SBI’s new service charges on IMPS, NEFT and RTGS transactions announced; Check full list here

State Bank of India (SBI) has announced the new service charges on IMPS, NEFT and RTGS transactions. SBI has increased the limit on IMPS transactions from Rs 2 lakh upto Rs 5 lakh and the bank will charge customers along with GST on IMPS through bank branches from next month.

Customers don’t have to pay any charges on transactions through Digital Channels, said SBI.

With an aim to encourage customers to adopt digital banking, SBI has not levied any Service Charges on IMPS transactions up to Rs 5 lakhs done through Internet banking/Mobile Banking including YONO, SBI said in a statement.

“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 Rs 2,00,000 to Rs 5,00,000 has been added and the proposed service charges for this slab is Rs 20 + GST and will be effective from 1st February 2022,” added the public sector bank in the statement.

The bank said that the service charges on IMPS are in line with the Service Charges on NEFT/RTGS transactions. The new charges on IMPS transactions will be effective from February 01, 2022.

Let’s check out the full list of SBI’s new charges on IMPS, NEFT and RTGS transactions below.

SBI IMPS charges 2022

Slab Transactions at Branches Transactions through Net Banking / Mobile / YONO
Existing Revised
w.e.f. 01.02.2022
Upto Rs Rs 1000 Nil No Change NIL
Above Rs 1000 and upto Rs 10,000 Rs 2 + GST
Above Rs 10,000 and upto Rs 1,00,000 Rs 4 + GST
Above Rs 1,00,000 and upto Rs 2,00,000 Rs 12 + GST
Above Rs 2,00,000 and upto Rs 5,00,000 (New slab) N.A. Rs 20 + GST

 

SBI NEFT transaction charges

lab Transactions through Branches Transactions through Net Banking / Mobile / YONO
Upto Rs Rs 10000 Rs 2 + GST NIL
Above Rs 10,000 and upto Rs 1,00,000 Rs 4 + GST
Above Rs 1,00,000 and upto Rs 2,00,000 Rs 12 + GST
Above Rs 2,00,000 Rs 20 + GST

 

SBI RTGS transaction charges

Slab Transactions through Branches Transactions through Net Banking / Mobile / YONO
Above Rs 2,00,000 and upto Rs 5,00,000 Rs 20 + GST NIL
Above Rs 5,00,000 Rs 40 + GST

 

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