Check SBI’s service charges on IMPS, NEFT and RTGS transactions– See complete chart here

Though SBI will charge customers along with GST on IMPS through bank branches from next month, there will be no charges on transactions through Digital Channels.

New Delhi: India’s largest lender State Bank of India (SBI) has enhanced the limit on IMPS transactions from Rs 2 lakh upto Rs 5 lakh. Though the bank will charge customers along with GST on IMPS through bank branches from next month, there will be nil charges on transactions through Digital Channels, said SBI.

“In an aim to encourage customers to adopt digital banking, SBI has not levied any Service Charges on IMPS transactions upto Rs. 5 lacs, done through Internet banking/Mobile Banking including YONO. In case of Branch Channels, there has been no change in the service charges for IMPS done through the Branch Channel in the existing slabs. However, a new slab for ₹ 2,00,000 to ₹ 5,00,000 has been added and the proposed service charges for this slab is ₹ 20 + GST w.e.f 01.02.2022,” SBI said in a statement.

Check out State Bank of India’s IMPS charges effective from 01 February 2022

Slab	Transactions at Branches		Transactions through Net Banking / Mobile / YONO
	Existing	Revised w.e.f. 01.02.2022
Upto Rs ₹ 1000	Nil	No Change	NIL
Above ₹ 1000/- and upto ₹ 10,000/-	₹ 2 + GST
Above ₹ 10,000/- and upto ₹ 1,00,000/-	₹ 4 + GST
Above ₹ 1,00,000/- and upto ₹ 2,00,000/-	₹ 12 + GST
Above ₹ 2,00,000/- and upto ₹ 5,00,000/- (New slab)	N.A.	₹ 20 + GST

Check out State Bank of India’s NEFT transaction charges

lab	Transactions through Branches	Transactions through Net Banking / Mobile / YONO
Upto Rs ₹ 10000	₹ 2 + GST	NIL
Above ₹ 10,000/- and upto ₹ 1,00,000/-	₹ 4 + GST
Above ₹ 1,00,000/- and upto ₹ 2,00,000/-	₹ 12 + GST
Above ₹ 2,00,000/-	₹ 20 + GST

Check out State Bank of India’s RTGS transaction charges

Slab		Transactions through Branches	Transactions through Net Banking / Mobile / YONO
Above ₹ 2,00,000/- and upto ₹ 5,00,000/-	₹ 20 + GST		NIL
Above ₹ 5,00,000/-	₹ 40 + GST

The service charges on IMPS are in line with the Service Charges on NEFT/RTGS transactions, SBI has said.