SBI increased IMPS transaction limit to Rs 5 lac with NIL charges

The service charges for the branch channel on IMPS are in line with the Service Charges on NEFT/RTGS transactions. 

SBI increased IMPS transaction limit to Rs 5 lac with NIL charges

New Delhi: Indian's Largest public sector bank, State Bank of India enhances IMPS transaction limit to Rs. 5 lacs. No charges for digital IMPS transactions

Earlier the bank has Rs. 2 lacs IMPS transaction limit.  No service charges will apply for IMPS transactions up to Rs. 5 lacs undertaken through Digital Channels like Internet banking/Mobile Banking including YONO SBI.

The service charges for the branch channel on IMPS are in line with the Service Charges on NEFT/RTGS transactions.

Revision in Services charges:

The Enhanced limits of IMPS transaction by RBI hence the introduction of the new slab in IMPS – Branch channel and service charges W.E.F. 01.02.2022

Slab and IMPS Service Charges (Existing)
1. Upto Rs. 1,000/-   (Nil)
2. Above Rs. 1000/- and up to Rs. 10,000/- (Rs. 2/- + GST)
3. Above Rs.10,000/- and up to Rs. 1,00,000/- (Rs. 4/- + GST)
4. Above Rs. 1,00,000/- and up to Rs. 2,00,000/- (Rs. 12/- + GST)
5. Above Rs. 2,00,000/- and up to Rs. 5,00,000/-(New Slab)

The Revised IMPS Service Charges on slab has no change and above 2,00,000 there is Rs. 20/- + GST.