SBI enhances the limit on IMPS transactions from Rs2 lac upto Rs5 lac with nil charges on transactions through Digital Channels

4 Jan 2022 , 04:18 PM

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 Rs2,00,000 to Rs5,00,000 has been added and the proposed service charges for this slab is Rs20 + GST w.e.f 01.02.2022.

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

IMPS Service Charges

Slab	Transactions at Branches	Transactions through          Net Banking / Mobile / YONO
Existing	Revised w.e.f. 01.02.2022
Upto Rs  ₹ 1000	Nil	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

Slab	Transactions through Branches	Transactions 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

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