The State Bank of India (SBI) has revised its IMPS (Immediate Payment Service) transaction charges, effective 15 February 2026. While IMPS transfers up to ₹25,000 through online channels remain free, new charges now apply for higher-value online IMPS transactions. Importantly, branch IMPS charges remain unchanged.
This article explains the latest SBI IMPS charges, slab-wise fees, exemptions, and what account holders should know before transferring money.
What Is IMPS?
IMPS (Immediate Payment Service) is a real-time interbank electronic fund transfer system that allows customers to send money instantly using:
- Mobile number & MMID
- Bank account number & IFSC
IMPS works 24×7, including Sundays and bank holidays, making it one of the fastest payment options in India.
SBI Revised IMPS Charges (Effective from 15-02-2026)
Bank: State Bank of India
Online Channel vs Branch Channel Charges
| IMPS Transaction Amount | Online (Earlier) | Online (Revised) | Branch (Earlier) | Branch (Revised*) |
|---|---|---|---|---|
| Up to ₹1,000 | Free | Free | Free | Free |
| Above ₹1,000 – ₹10,000 | Free | Free | ₹2 + GST | ₹2 + GST |
| Above ₹10,000 – ₹25,000 | Free | Free | ₹4 + GST | ₹4 + GST |
| Above ₹25,000 – ₹1,00,000 | Free | ₹2 + GST | ₹4 + GST | ₹4 + GST |
| Above ₹1,00,000 – ₹2,00,000 | Free | ₹6 + GST | ₹12 + GST | ₹12 + GST |
| Above ₹2,00,000 – ₹5,00,000 | Free | ₹10 + GST | ₹20 + GST | ₹20 + GST |
* No change in branch IMPS charges
Key Takeaways for SBI Customers
- Online IMPS is free up to ₹25,000
- Charges apply only for online IMPS above ₹25,000
- Branch IMPS charges remain unchanged
- GST is applicable on IMPS service charges
- IMPS continues to be available 24×7
IMPS Charges Waived for These SBI Accounts
SBI continues to waive IMPS transaction charges for select salary and special savings accounts.
Salary / Pension Package Accounts
- DSP
- PMSP
- ICGSP
- CGSP
- PSP
- RSP
- Shaurya Family Pension Accounts
Special Savings Accounts
- CSP / SGSP / SUSP
- Family Savings Account – SBI RISHTEY
Customers holding these accounts can continue using IMPS without any charges, even after 15 February 2026.
Should You Still Use IMPS?
IMPS remains a fast and reliable payment method, especially for urgent transfers. However:
- For amounts above ₹25,000, users may consider NEFT, which remains free on SBI online channels.
- For small and instant payments, UPI is still the most cost-effective option.
Choosing the right payment mode can help avoid unnecessary charges.
The revised SBI IMPS charges from 15 February 2026 mainly impact high-value online IMPS transactions, while smaller transfers remain unaffected. Branch customers will see no change, and many salary account holders continue to enjoy complete fee waivers.
Before making a transfer, it’s always wise to check the amount slab and applicable charges to select the most cost-efficient payment option.
Rajil M P is a seasoned banking expert and the Founder of IndianBanker.com. With over eight years of leadership as a Senior Manager in India’s public sector banking system, he brings firsthand experience in credit appraisal, regulatory compliance, and branch operations. A certified professional, Rajil holds flagship credentials from the IIBF (JAIIB & CAIIB) and is a certified IRDAI-compliant insurance professional. He specializes in translating complex RBI policies into actionable financial insights for both banking professionals and the general public.
Discover more from Indian Banker
Subscribe to get the latest posts sent to your email.
