SBI to Revise IMPS Charges From August 15, 2025: Full Details, Comparison With NEFT & UPI, and Money-Saving Tips
State Bank of India will introduce nominal fees for high-value IMPS transactions made online, while small transfers up to ₹25,000 will remain free. Here’s the full breakdown.
From August 15, 2025, SBI will revise IMPS charges for retail customers. Transfers up to ₹25,000 will remain free; higher-value transfers will attract nominal fees. Learn the new rates, compare with NEFT and UPI, and find the cheapest transfer method.
SBI IMPS Charges Change From August 15, 2025 — Complete Guide for Customers
The State Bank of India (SBI), India’s largest public sector bank, has announced a revision of IMPS charges effective August 15, 2025.
The update introduces nominal charges for high-value IMPS transactions done online, while smaller transfers will remain free for all retail customers.
This article explains the changes, compares IMPS with other payment modes like NEFT and UPI, and provides practical tips to minimize your transfer costs.
What is IMPS?
Immediate Payment Service (IMPS) is a real-time interbank fund transfer system operated by the National Payments Corporation of India (NPCI).
Key features of IMPS:
- 24×7 availability, including Sundays and bank holidays
- Instant settlement — money reaches the beneficiary’s account within seconds
- Multiple access channels — internet banking, mobile apps, ATMs, bank branches
- Multiple identifiers — Account + IFSC or Mobile number + MMID
💡 Difference from NEFT:
- NEFT processes transactions in hourly batches, while IMPS processes them instantly.
- NEFT is free or low-cost for most transactions, but not available 24×7 in all cases for high-value transfers (though it is operational on holidays for many banks).
Current SBI IMPS Charges (Before August 15, 2025)
Currently, SBI does not charge retail customers for online IMPS transfers, regardless of the amount.
New SBI IMPS Charges (From August 15, 2025)
While full fee details will be shared in SBI’s official circular, the bank has confirmed:
| Transaction Slab | New Charge (From Aug 15) | Existing Charge |
|---|---|---|
| Up to ₹25,000 | Free | Free |
| ₹25,001 – ₹2 lakh | Nominal fee (TBA) | Free |
| Above ₹2 lakh* | Nominal fee (TBA) | Free |
*IMPS maximum limit for most banks is ₹5 lakh per transaction.
Why SBI is Introducing Charges
Banking experts suggest the reasons include:
- Operational cost recovery for maintaining instant payment infrastructure
- Encouraging small transfers via UPI, reserving IMPS for higher-value use cases
- Aligning with industry norms — some private banks already charge for high-value IMPS
IMPS vs NEFT vs UPI — Which Is Cheaper After August 15?
| Feature | IMPS (Post-Aug 15) | NEFT | UPI |
|---|---|---|---|
| Speed | Instant | 30 mins – 2 hrs | Instant |
| 24×7 Availability | Yes | Mostly Yes | Yes |
| Cost (Small Transfers) | Free (≤₹25k) | Free / Nominal | Free |
| Cost (High-Value) | Nominal fee | Low / Nominal | Free (limit varies) |
| Max Limit per Transfer | ₹5 lakh | No upper limit* | ₹1–5 lakh |
*Upper limit varies by bank; RBI does not set a strict cap for NEFT.
💡 Tip: For amounts above ₹25,000 but below ₹1 lakh, UPI may still be free if your bank allows higher limits.
How to Make an IMPS Payment with SBI
Step-by-Step via SBI YONO App
- Log in to the SBI YONO app.
- Select ‘Fund Transfer’ → ‘IMPS’.
- Choose transfer mode: Account + IFSC or Mobile + MMID.
- Enter beneficiary details and amount.
- Confirm with OTP.
- Transaction completes instantly; you get an SMS confirmation.
Step-by-Step via SBI Net Banking
- Log in to SBI Online.
- Go to Payments / Transfers → IMPS.
- Add beneficiary (if not already added).
- Enter amount and remarks.
- Authorize with OTP or profile password.
Tips to Save Money on SBI Transfers After August 15
- Use UPI for small and medium-value transactions (up to your bank’s UPI limit).
- Use NEFT for large, non-urgent transfers to avoid IMPS fees.
- Bundle transfers — instead of multiple IMPS transactions, make one larger NEFT if possible.
- Check SBI’s official circular for exact charges before deciding.
Frequently Asked Questions (FAQs)
Q1: Will SBI charge for all IMPS transactions after August 15?
No. Transactions up to ₹25,000 will remain free. Only higher-value transactions will have nominal fees.
Q2: Will UPI remain free?
Yes, UPI payments are expected to remain free for most users, subject to RBI rules.
Q3: What’s the maximum limit for SBI IMPS transfers?
₹5 lakh per transaction for most accounts.
Q4: Can IMPS payments be reversed?
No. Once processed, they cannot be stopped or reversed. You’ll need to contact the beneficiary for refunds.
Expert View
Digital payments consultant Anuj Mehta notes:
“SBI’s IMPS fee revision aligns with global trends of charging for instant high-value transfers. However, the charges are nominal and will not discourage most users. Customers should compare options like NEFT and UPI to choose the most cost-effective method.”
From August 15, 2025, SBI will charge nominal fees for high-value IMPS transfers while keeping small-value transactions free. Customers making frequent large transfers should explore alternatives like NEFT or high-limit UPI to keep costs minimal.
