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SBI enhances the limit on IMPS transactions from Rs. 2 lac upto Rs. 5 lac with nil charges on transactions through Digital Channels

SBI enhances the limit on IMPS transactions from Rs. 2 lac upto Rs. 5 lac with nil charges on transactions through Digital Channels 1

Mumbai – January 05, 2022: 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 ₹ 2,00,000 to ₹ 5,00,000 has been added and the proposed service charges for this slab is ₹ 20 + GST w.e.f 01.02.2022. The service charges on IMPS are in line with the Service Charges on NEFT/RTGS transactions.

Please see the charts:

IMPS Service Charges

 SlabTransactions at BranchesTransactions through Net Banking / Mobile / YONO
ExistingRevisedw.e.f. 01.02.2022
Upto Rs  ₹ 1000Nil  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

SlabTransactions through BranchesTransactions 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

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