Starting August 15, 2025, the State Bank of India (SBI) is making a big change in how customers pay for money transfers through IMPS. The SBI Money Transfer Policy Change will end free IMPS transfers and introduce a new fee system that affects transactions of different amounts.
This update is important for anyone who regularly uses mobile or online banking for quick transfers. Let’s break down the details in a simple and practical way.
What’s Changing in SBI’s IMPS Policy?
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Free IMPS transfers are ending from August 15, 2025.
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The IMPS Fee Structure Revised introduces charges based on transaction amounts.
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The new policy applies to transfers made via SBI YONO app, Internet Banking, and Mobile Banking.
New SBI IMPS Fee Structure (Effective August 15, 2025)
Here’s a clear look at the revised charges:
| Transaction Amount (₹) | New IMPS Charge (₹) |
|---|---|
| Up to ₹1,000 | Free |
| ₹1,001 – ₹10,000 | ₹2 + GST |
| ₹10,001 – ₹1,00,000 | ₹5 + GST |
| ₹1,00,001 – ₹2,00,000 | ₹10 + GST |
Why This Change Matters
The SBI Money Transfer Policy Change impacts millions of customers, especially those who rely on IMPS for fast transfers. Here’s why you should pay attention:
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Daily users may now face extra costs.
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Businesses dealing in frequent small transfers need to rethink transaction strategies.
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Digital banking habits might shift, as customers may prefer UPI for free transfers.
Smart Ways to Save on IMPS Charges
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Use UPI transfers for small amounts (still free in most cases).
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Split larger payments into ₹1,000 transfers if possible.
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Check NEFT transfers, which are free for some time slots via online banking.
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Limit IMPS use to urgent transactions that need instant settlement.
Quick Comparison – IMPS vs UPI vs NEFT
| Feature | IMPS (New) | UPI | NEFT |
|---|---|---|---|
| Speed | Instant | Instant | Within time slots |
| Charges | ₹0 – ₹10 + GST | Free | Mostly Free |
| Availability | 24/7 | 24/7 | Limited hours |
Final Takeaway
The IMPS Fee Structure Revised means convenience now comes with a cost. While IMPS remains one of the fastest and most reliable transfer methods, customers should use it wisely to avoid unnecessary charges.
If you’re an SBI customer, adapting to the SBI Money Transfer Policy Change will help you save money while continuing to enjoy hassle-free digital banking.
FAQs on SBI’s New IMPS Charges
Q1. From when will the new SBI IMPS charges apply?
The revised IMPS fee structure will apply from August 15, 2025.
Q2. Are all IMPS transfers chargeable under the new rules?
No, transfers up to ₹1,000 remain free. Charges apply only to transfers above this amount.
Q3. Can I avoid IMPS charges completely?
Yes, you can use UPI or NEFT for most transactions, as they are free or cheaper alternatives.
Q4. Does this change affect only online banking?
Yes, the charges apply to IMPS transfers made via SBI YONO, Internet Banking, and Mobile Banking.
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