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Banking charges: SBI to levy nominal fee on IMPS transfers above Rs 25,000 from August 15, corporate rates from September 8

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Banking charges: SBI to levy nominal fee on IMPS transfers above Rs 25,000 from August 15, corporate rates from September 8

The State Bank of India (SBI) will introduce nominal charges on Immediate Payment Service (IMPS) fund transfers above Rs 25,000 made through online channels starting August 15, according to details posted on its website.The country’s largest lender clarified there will be no change in charges for IMPS transfers conducted at branches, PTI reported. For online transactions, transfers above Rs 25,000 but below Rs 1 lakh will attract a fee of Rs 2, transfers between Rs 1-2 lakh will incur a fee of Rs 6, and transactions in the Rs 2-5 lakh range will carry a charge of Rs 10. Goods and Services Tax (GST) will be applicable on all these charges.Salary package account holders will continue to enjoy full waivers for online IMPS transactions. For corporate customers, the revised service charges will take effect from September 8, 2025.SBI said IMPS transaction charges will remain waived for current accounts under special categories — including Gold, Diamond, Platinum, Rhodium, government departments, and autonomous or statutory bodies — when conducted online.





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