Understanding SBI IMPS charges is vital for making fast, secure, and convenient fund transfers through the IMPS (Immediate Payment Service). Knowing these charges helps you plan transactions better and avoid unnecessary costs. Whether you’re a business owner or an individual, knowing the understanding IMPS limit, fees, and benefits is key to managing your finances effectively.
Table of Contents
SBI IMPS Charges in 2025
SBI IMPS charges vary depending on the transaction amount and the channel used, such as branch banking or net banking and YONO. Below is a detailed breakdown of the charges:
Slab |
IMPS Fund Transfer Charges Through Branch Channel |
Up to ₹1,000 |
Free |
₹1,001 – ₹10,000 |
₹2 + GST |
₹10,001 – ₹1,00,000 |
₹4 + GST |
₹1,00,001 – ₹2,00,000 |
₹12 + GST |
₹2,00,001 to ₹5,00,000 |
₹20 + GST |
Exemptions
-
IMPS transactions through net banking or mobile banking (including YONO) are entirely free, regardless of the transaction amount.
Channels for SBI IMPS Transactions
1. Mobile Banking Apps
SBI’s mobile banking applications, such as YONO SBI and YONO SBI Lite, allow you to initiate IMPS transactions instantly using your smartphones. These apps provide a user-friendly interface and can be accessed anytime, anywhere.
2. Net Banking
The SBI net banking platform allows you to perform IMPS transactions securely from your desktop or mobile browser. It is a convenient option for users who prefer online banking for their financial needs.
3. SBI ATMs
IMPS transactions can also be carried out through SBI ATMs, providing an alternative for users who do not have access to the internet. This ensures that funds can be transferred easily using physical banking infrastructure.
SBI IMPS Transaction Limits
SBI IMPS transactions do not have a minimum transfer limit, enabling you to send even small amounts instantly. The maximum limit per transaction is ₹5,00,000. The total limit for daily transfers is ₹25,00,000, allowing you to make multiple transactions throughout the day, as long as the total does not exceed this amount.
You can verify your IMPS transaction limits by checking the SBI app or the official SBI website. This will help ensure you stay within your permissible limits and plan your transactions effectively.
Benefits of Using IMPS
1. Speed
IMPS is among the fastest methods for transferring funds, ensuring that money is credited to the recipient’s account within seconds. This is especially beneficial for urgent payments and immediate fund transfers. In comparison, NEFT and RTGS may take a little longer to process.
2. Accessibility
IMPS can be accessed through multiple channels, including mobile banking apps, net banking, and ATMs, giving users flexibility in how they make transactions. This widespread accessibility ensures that you can easily access IMPS, regardless of your preferred platform, offering more flexibility than other transfer methods.
3. 24/7 Availability
IMPS is available round the clock, including weekends and holidays, just like NEFT and RTGS, but it offers the added advantage of real-time processing for all transaction amounts.
4. Security
IMPS transactions are highly secure, utilising robust authentication and encryption to protect user data and funds. While NEFT and RTGS offer similar levels of security, IMPS stands out with its ease of use across multiple platforms, making secure transfers accessible to all users.
5. Versatility
IMPS supports a wide range of transactions, from as low as ₹1 to ₹5,00,000 per transaction, making it suitable for diverse financial needs. Unlike RTGS, which is restricted to high-value transfers, or UPI, which is typically used for smaller transactions, IMPS caters to both personal and business requirements efficiently.
How to Use IMPS in SBI?
1. Adding a Beneficiary
Before initiating an IMPS transaction, you need to add a beneficiary. You can do this via two ways:
Through SBI Internet Banking (RINB)
-
Log on to www.onlinesbi.sbi.
-
Navigate to the Profile section and select Manage Beneficiary.
-
Choose IMPS Beneficiary and provide details like beneficiary name, MMID, mobile number, and transfer limit.
-
Approve the addition using the OTP sent to your registered mobile number.
Through YONO App:
-
Open the YONO app and log in.
-
Go to YONO Pay > Bank Transfer to Own/Other Account > Pay a New Beneficiary.
-
Enter your INB Profile password and choose the option to pay using the beneficiary’s mobile number.
-
Add details like beneficiary name, MMID, mobile number, and transaction limit.
-
Authorise the addition using the OTP received on your registered mobile number.
2. Initiating IMPS Transfers
Person to Account Transfers:
-
Through RINB:
-
Log on to www.onlinesbi.sbi.
-
Go to Payments/Transfers > Other Bank Transfer > IMPS Fund Transfer.
-
Select Person to Account (Using IFSC).
-
Choose your debit account and enter the amount and purpose.
-
Select the beneficiary account.
-
Accept the Terms & Conditions and authorise the transaction using the OTP sent to your registered mobile number.
-
Through YONO:
-
Log on to the YONO mobile app.
-
Go to YONO Pay > Bank Transfer to Own/Other Account.
-
Select Other Accounts and then choose the other bank beneficiary to which to transfer money.
-
Enter the amount and choose IMPS as the mode of payment.
-
Select the purpose of the transfer and approve it using the OTP sent to your registered mobile number.
-
Through YONO Lite:
-
Log in to YONO Lite and click Fund Transfer > Other Bank Account.
-
Select your debit account, IMPS as the mode of transfer, and the beneficiary account.
-
Enter the amount and approve the transaction using OTP.
Person to Person Transfers:
-
Through RINB:
-
Log on to www.onlinesbi.sbi.
-
Go to Payments/Transfers > Other Bank Transfer > IMPS Fund Transfer.
-
Select Person to Person (Using MMID).
-
Choose your debit account and enter the amount and purpose.
-
Select the beneficiary account.
-
Accept the Terms & Conditions and authorise the transaction using the OTP sent to your registered mobile number.
-
Through YONO:
-
Log on to the YONO mobile app.
-
Go to YONO Pay > Bank Transfer to Own/Other Account.
-
Select Other Accounts > and then choose the other bank beneficiary (Added with MMID) to which to transfer money.
-
Enter the amount, choose IMPS as the mode of payment, and select the transfer purpose.
-
Approve the transaction using the OTP sent to your registered mobile number.
-
Through YONO Lite:
-
Log in to the YONO Lite app.
-
Click Fund Transfer > IMPS-Mobile No & MMID.
-
Select the debit account and the beneficiary account.
-
Enter the transfer amount and click on Submit.
-
Confirm the transaction and approve it using the OTP sent to your registered mobile number.
Conclusion
SBI’s Immediate Payment Service provides a secure, reliable, and instant way to transfer funds 24×7. With no charges for transactions up to ₹5,00,000 across online channels like YONO, YONO Lite, and Internet Banking, IMPS stands out as a cost-effective solution for seamless money transfers.
By leveraging its accessibility, speed, and versatility, IMPS caters to both personal and business financial needs. While using this service, it is crucial to verify beneficiary details carefully and remain informed about transaction limits and any applicable charges on specific channels.
Frequently Asked Questions (FAQs)
1. Is IMPS free for SBI customers?
No, IMPS is not entirely free for SBI customers. While there are no IMPS charges in SBI for transactions up to ₹1,000 through branch channels, IMPS charges are applicable for higher transaction amounts and depend on the transaction type and channel used.
2. What is the maximum amount I can transfer via IMPS with SBI?
The maximum limit for IMPS transactions with SBI is ₹5,00,000 per transaction.
3. How can I check SBI’s IMPS charges?
You can check SBI’s IMPS charges on the official SBI website or mobile banking applications like YONO and YONO Lite. Visit the Charges section or refer to the bank’s detailed schedule of charges available online.
4. Are IMPS charges refunded if a transaction fails in SBI?
Yes, SBI will refund the amount immediately if an IMPS transaction fails due to any reason, such as technical or operational issues.
5. Are IMPS charges applicable for both online and branch transactions in SBI?
IMPS charges apply to branch transactions based on the amount transferred. However, online IMPS transactions through SBI’s internet banking or mobile banking platforms are typically free, providing a cost-effective option for users.