Millions of customers of the State Bank of India (SBI) will soon have to pay a small fee for certain instant money transfers. The country’s largest public sector bank has announced a revision in its IMPS (Immediate Payment Service) charges, ending the era of completely free high-value online transfers. The new rates will come into effect from February 15, 2026.
IMPS is one of the most popular ways to send money instantly through internet banking and the YONO app. Until now, SBI customers could transfer large amounts online without paying anything extra. That is about to change.
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What exactly is changing?
Under the revised policy, SBI will introduce service charges on online IMPS transactions above ₹25,000. The charges will apply to transfers made via internet banking and the YONO mobile app.
Smaller transactions will continue to remain free, but customers who regularly move higher amounts using IMPS will notice a fee being deducted.
New online IMPS charges from February 15
Here’s how the new fee structure looks for online IMPS transfers:
- ₹25,000 to ₹1 lakh: ₹2 + GST
- ₹1 lakh to ₹2 lakh: ₹6 + GST
- ₹2 lakh to ₹5 lakh: ₹10 + GST
So, if you transfer ₹3 lakh online using IMPS, you’ll be charged ₹10 plus GST. Transfers up to ₹25,000 will remain completely free.
How was it earlier?
Until now, SBI did not charge anything for online IMPS transfers, even for large amounts up to ₹5 lakh. This made it one of the most user-friendly banks for instant digital transfers.
The new move marks a clear shift, especially for customers who frequently transfer higher sums online.
What about IMPS done at branches?
There is no change in IMPS charges for transactions done at SBI branches. The existing fee structure will continue:
- Up to ₹1,000: Free
- ₹1,000 to ₹1 lakh: ₹4 + GST
- ₹1 lakh to ₹2 lakh: ₹12 + GST
- ₹2 lakh to ₹5 lakh: ₹20 + GST
Even after the revision, online IMPS transfers remain cheaper than branch-based ones.
Who won’t have to pay these charges?
SBI has kept several account categories completely exempt from online IMPS charges. These include:
- Salary package accounts (DSP, PMSP, CGSP, PSP, RSP)
- Shaurya Family Pension Account
- SBI Rishta (Family Savings Account)
- CSP, SGSP and SUSP accounts
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If your account falls under any of these categories, online IMPS transfers will continue to be free.
What should customers keep in mind?
If you mostly send smaller amounts, nothing really changes for you. IMPS transfers up to ₹25,000 remain free. But if you regularly move large sums, it’s worth factoring in the new charges or checking if other digital payment options work better for you.
The bottom line
SBI’s decision may involve only a few rupees per transaction, but it clearly signals the end of free high-value IMPS transfers online. Staying aware of the new slabs — and knowing whether your account is exempt — will help avoid surprises after February 15, 2026.
