SBI: Millions of customers of the country’s largest public sector bank, the State Bank of India (SBI), are about to be shocked. SBI’s instant money transfer service, which was previously virtually free, is about to become more expensive.
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SBI: Millions of customers of the country’s largest public sector bank, State Bank of India (SBI), are about to face a setback. SBI’s instant money transfer service, which was previously virtually free, is about to become more expensive. If you transfer large amounts through online IMPS, this facility will no longer be completely free. Starting February 15, 2026, SBI will impose a service charge on online IMPS transactions. This charge will apply to transactions exceeding ₹25,000.
What was the system like before?
Until now, SBI customers could transfer amounts up to ₹5 lakh through online IMPS without any charge. Whether through internet banking or the YONO app, there were no fees on any amount. However, after the new rules come into effect, this service will become more expensive. However, the relief is that there has been no change in the charges for IMPS transactions conducted at branches.
Which transactions will be charged?
According to the new rules, online IMPS transactions from ₹25,000 to ₹5 lakh will now be chargeable.
From ₹25,000 to ₹1 lakh: ₹2 + GST
From ₹1 lakh to ₹2 lakh: ₹6 + GST
From ₹2 lakh to ₹5 lakh: ₹10 + GST
This means that if you send ₹3 lakh through YONO or internet banking, you will have to pay ₹10 plus GST. Customers sending smaller amounts will get some relief for now, as online IMPS transactions up to ₹25,000 will still be free.
What will change when using IMPS from a branch?
For customers who visit a bank branch for IMPS, the charges will remain the same.
Up to Rs 1,000: Free
Rs 1,000 to Rs 1 lakh: Rs 4 + GST
Rs 1 lakh to Rs 2 lakh: Rs 12 + GST
Rs 2 lakh to Rs 5 lakh: Rs 20 + GST
This clearly means that online transactions will still be cheaper than in-branch transactions, but they will not be completely free.
Which accounts will not be charged?
SBI has exempted certain accounts from this charge. These include salary package accounts such as DSP, PMSP, CGSP, PSP, RSP, etc.
Shaurya Family Pension Account
SBI Rishta (Family Savings Account)
CSP, SGSP, SUSP Accounts
If your account falls into any of these categories, you will not be charged any fees for online IMPS.
