If you use internet or mobile banking to transfer money, this update is important. Many big banks in India have now decided to impose charges on IMPS (Immediate Payment Service) transactions.
Earlier, most banks offered this facility free of cost. But starting August 2025, customers will have to pay a small fee depending on the transaction amount.
What is IMPS?
IMPS (Immediate Payment Service) is a real-time payment service operated by the National Payments Corporation of India (NPCI). With IMPS, money can be transferred instantly, 24×7.
Maximum limit per transaction: ₹5 lakh
Not included: SMS and IVR-based transactions
From August 2025, the charges will vary from bank to bank. Smaller transactions will have very low or zero charges, while larger transactions can cost up to ₹20 per transfer. Hence, it’s important to check your bank’s rules before making a transfer.
New IMPS Charges of Major Banks
State Bank of India (SBI)
(Charges applicable from 15 August 2025)
₹25,000 – ₹1,00,000 → ₹2 + GST
₹1,00,000 – ₹2,00,000 → ₹6 + GST
₹2,00,000 – ₹5,00,000 → ₹10 + GST
(Earlier, these transactions were free)
Canara Bank
Up to ₹1,000 → No charge
₹1,000 – ₹10,000 → ₹3 + GST
₹10,000 – ₹25,000 → ₹5 + GST
₹25,000 – ₹1,00,000 → ₹8 + GST
₹1,00,000 – ₹2,00,000 → ₹15 + GST
₹2,00,000 – ₹5,00,000 → ₹20 + GST
Punjab National Bank (PNB)
Up to ₹1,000 → No charge
₹1,001 – ₹1,00,000 →
From branch: ₹6 + GST
Online: ₹5 + GST
Above ₹1,00,000 →
From branch: ₹12 + GST
Online: ₹10 + GST
HDFC Bank (Effective from 1 August 2025)
Up to ₹1,000 →
Regular customer: ₹2.50
Senior citizen: ₹2.25
₹1,000 – ₹1,00,000 →
Regular: ₹5
Senior citizen: ₹4.50
Above ₹1,00,000 →
Regular: ₹15
Senior citizen: ₹13.50
