Starting August 15, 2025, India’s largest public sector bank, State Bank of India (SBI), will begin charging fees for Immediate Payment Service (IMPS) transfers. Until now, SBI customers enjoyed free IMPS transfers, but with this IMPS Transfer Charges Update by SBI 2025, customers need to prepare for transaction costs on money transfers.
This move marks the end of Free Transactions Ending August 15, making it essential for customers to understand the new charges, limits, and ways to save money while transferring funds.
What is IMPS and Why is it Popular?
IMPS (Immediate Payment Service) is one of the fastest ways to transfer money within India. It operates 24/7, including weekends and bank holidays, making it a preferred option for:
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Instant transfers between banks
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Emergency money transfers at any time
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Small-value payments without delays
Until now, SBI’s customers enjoyed this service without fees, but things are changing.
New SBI IMPS Transfer Charges – Effective August 15, 2025
Here’s a quick look at the updated fee structure:
| Transaction Amount (₹) | Charges (Excluding GST) | When Applicable |
|---|---|---|
| Up to ₹1,000 | Free | No charges applied |
| ₹1,001 – ₹10,000 | ₹2.50 per transaction | Post August 15, 2025 |
| ₹10,001 – ₹1,00,000 | ₹5 per transaction | Post August 15, 2025 |
| ₹1,00,001 – ₹2,00,000 | ₹15 per transaction | Post August 15, 2025 |
Note: GST will be applied additionally as per government rules.
This IMPS Transfer Charges Update by SBI 2025 means that customers who often make multiple transfers will need to plan their digital transactions more wisely.
Why Did SBI Introduce These Charges?
SBI states that the charges are being introduced to:
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Cover rising operational and technology costs
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Bring uniformity in banking charges across digital platforms
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Encourage customers to use UPI transfers, which will continue to remain free of charge
How Customers Can Save on Charges
Even though Free Transactions Ending August 15, customers still have ways to save money:
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Use UPI: Transfers through UPI apps like YONO SBI, PhonePe, Paytm, and Google Pay remain free
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Plan Large Transfers: Instead of multiple small transfers, send a lump sum where possible
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Check Alternatives: NEFT transfers via internet banking are often cheaper and available almost round the clock
Impact on SBI Customers
For regular users of IMPS, this update means a small but noticeable change in monthly expenses. While ₹2.50 or ₹15 per transaction may not feel big, frequent transfers could add up quickly.
FAQs
Q1. From when will SBI start charging for IMPS transfers?
SBI will start charging customers from August 15, 2025, marking the end of free IMPS transactions.
Q2. Are small IMPS transfers below ₹1,000 still free?
Yes, transfers of ₹1,000 or below will continue to remain free.
Q3. Will UPI transactions also attract charges?
No. UPI transfers remain completely free, making them a cost-saving alternative for SBI customers.
Q4. How much will I pay for transferring ₹50,000 via IMPS?
You will be charged ₹5 + GST for IMPS transfers between ₹10,001 and ₹1,00,000.
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