SBI enhances the limit on IMPS transactions from Rs. 2 lac upto Rs. 5 lac with nil charges on transactions through Digital Channels

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

Please see the charts:

IMPS Service Charges

  SlabTransactions at BranchesTransactions through          Net Banking / Mobile / YONO
ExistingRevised w.e.f. 01.02.2022
Upto Rs  ₹ 1000Nil    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

NEFT Service Charges

SlabTransactions through BranchesTransactions 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

RTGS Service Charges

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