SBI Increases IMPS Transfer Charges Effective February 15

State Bank of India (SBI) has announced a revision in its Immediate Payment Service (IMPS) charges, effective February 15, as per news reports. This change follows a recent increase in ATM transaction fees, reflecting the bank's response to rising operational costs. 

New IMPS Charges for Online Transfers 

Under the revised structure, SBI has introduced charges for online IMPS transactions above ₹25,000, a category that was previously free. IMPS transfers conducted at bank branches remain unaffected by these changes. 

For transactions up to ₹10,000, IMPS transfers continue to be free across both online and branch channels. Transfers above ₹10,000 and up to ₹25,000 remain free online, while branch transfers incur a fee of ₹4 plus GST. 

For online transfers above ₹25,000 and up to ₹1 lakh, a fee of ₹2 plus GST will be applied. Transfers above ₹1 lakh and up to ₹2 lakh will attract a charge of ₹6 plus GST, and those above ₹2 lakh and up to ₹5 lakh will incur a fee of ₹10 plus GST. 

Exemptions and Implications 

SBI has stated that several account categories will remain exempt from these charges, including defence salary package, central government salary package, pension salary package, railways salary package, and Shaurya Family Pension Accounts. Certain institutional and family-linked savings accounts are also exempt. 

While UPI remains a free and popular option for many, IMPS is often used for higher-value and time-sensitive transactions. Customers who frequently use IMPS for large transfers may see a modest increase in their monthly banking costs. 

State Bank of India Share Price Performance 

As of January 14, 2026, at 2:36 PM, State Bank of India share price on NSE was trading at ₹1,027.30 down by 0.11% from the previous closing price. 

Read More: SBI ATM Charges Revised: Here is What Savings and Salary Account Holders Should Know! 

Conclusion 

SBI's revision of IMPS charges reflects a broader recalibration of service pricing in response to rising operational costs. The introduction of fees for online transfers above ₹25,000 marks a significant change for customers who rely on IMPS for high-value transactions. 

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