SBI hikes IMPS charges from August 15, 2025: See what PNB, Canara Bank are charging

State Bank of India has announced a revision in Immediate Payment Service (IMPS) transaction charges for retail customers, applicable from August 15, 2025. The changes apply differently to online and branch channels, with some slabs witnessing new charges while others remain unchanged.

Small-value IMPS transactions up to Rs 25,000 will remain free for online users. While, higher-value transactions above Rs 25,000 done through online channels will now attract nominal charges from August 15, 2025. Salary package account holders continue to enjoy full waivers for online IMPS transfers.

What is IMPS?
IMPS is an innovative real-time payment service available round the clock. This service is offered by National Payments Corporation of India (NPCI). The per transaction limit on IMPS is Rs 5 lakh (for all channels except SMS and IVR).

Also read: ICICI Bank’s hike in monthly average balance: How it compares with other private and PSU banks

Who will incur the increased charges for IMPS transactions in SBI?

For online IMPS transactions, amounts above Rs 25,000 and up to Rs 1,00,000 will attract a charge of Rs 2 + GST, amounts above Rs 1,00,000 and up to Rs 2,00,000 will incur Rs 6 + GST, and amounts above Rs 2,00,000 and up to Rs 5,00,000 will incur Rs 10 + GST. Earlier, these transactions were free of charge.

What are the charges for IMPS transactions done at SBI branches?

SBI has not changed any service charges done through branch channels.
The lowest branch charge is Rs 2+GST, while the highest branch charge is Rs 20+GST.

IMPS charges not applicable for these accounts

IMPS transaction charges for salary package accounts is waived in online channel for all variants of DSP (Defence Salary Package), PMSP (Para Military Salary Package), ICGSP (Indian Coast Guard Salary Package), CGSP (Central Government Salary Package), PSP (Police Salary Package), and RSP (Railway Salary Package), including Shaurya Family Pension Accounts. These are all types of salary packages offered by SBI, tailored for different sectors and organisations.

Waived in the online channel for Corporate Salary Package (CSP), State Government Salary Package (SGSP), and Startup Salary Package (SUSP) and Family Savings Account-SBI Rishtey.

Canara Bank IMPS transaction charges

For transactions below Rs 1,000, there are no charges. Transactions from Rs 1,000 to below Rs 10,000 incur a fee of Rs 3 + GST, those from Rs 10,000 to below Rs 25,000 are charged at Rs 5 + GST, and from Rs 25,000 to below Rs 1,00,000, the fee is Rs 8 + GST. For amounts from Rs 1,00,000 to below Rs 2,00,000, the charge is Rs 15 + GST, while transactions from Rs 2,00,000 up to Rs 5,00,000 attract a fee of Rs 20 + GST.

Punjab National Bank

For IMPS transactions up to Rs 1,000, there are no charges. For transactions above Rs 1,001 and up to Rs 1,00,000, the charges are Rs 6+GST if transactions are done through a branch and Rs 5 + GST if done via online. For transactions above Rs 1,00,000, the charges are Rs 12 + GST if done through a bank, and Rs 10 + GST if done online.

Important FAQs on IMPS as per NPCI website

Does a customer need to register to remit funds through IMPS?

For using IMPS on mobile or SMS or through a net banking portal, a customer will have to register for mobile, internet banking or SMS banking with his/her individual bank. However, for initiating IMPS using Bank branch, IVR and ATM channels, no prior registration is required.

What is MMID? How do I get this issued?

Mobile Money Identifier is a 7-digit number issued by banks. MMID is one of the inputs which, when clubbed with a mobile number, facilitates fund transfer. Combination of Mobile no. & MMID is uniquely linked with an account number and helps identify beneficiary details. Different MMIDs can be linked to the same Mobile Number.

Is the facility of Stop payments available on IMPS?

No, IMPS is an immediate fund transfer service, after initiating the payment request payment cannot be stopped or cancelled.