SBI Hikes IMPS Charges For Large Online Transfers

SBI will charge fees for IMPS transfers above ₹25,000 from February 15, 2025. Transfers up to ₹25,000 remain free. Fees range from ₹2 plus GST (₹25,001–₹1 lakh) to ₹10 plus GST (₹2–5 lakh). The bank cites digital service maintenance as the reason, affecting mostly large online transfers via app or internet banking.