State Bank of India (SBI) customers have been hit with an unexpected update. The bank has made an announcement stating that no more free instant money transfers via IMPS will be offered soon. Starting from February 15, 2026, customers will be required to pay for online IMPS transactions that go beyond the free limit.

New IMPS Charges (Effective Feb 15, 2026)

State Bank of India has revised its pricing structure for IMPS, more especially for transactions effected from internet banking, mobile banking, and YONO app. The revision is made due to the increasing operational costs. The new charges will apply based on the transfer amount as follows:

• Up to ₹25,000 – Free
• ₹25,001 to ₹1 lakh – ₹2 + GST
• ₹1 lakh to ₹2 lakh – ₹6 + GST
• ₹2 lakh to ₹5 lakh – ₹10 + GST

These charges are applicable only for online transfers. Customers sending money through bank branches will continue to pay the existing charges (ranging from ₹2 to ₹20 depending on the amount).

Who Is Exempted?

To ease the impact, SBI has exempted certain account holders from the new IMPS charges. These include:

• Salary package accounts such as those for Defence, Central Government, Railways, Police, etc.
• Special accounts such as Shaurya Family Pension Account and SBI Rishte accounts.

Why the Change?

SBI has stated that while it continues to promote digital payments, the bank is introducing nominal charges on high-value transactions to increase revenue and manage operational costs. However, the bank has kept the ₹25,000 free limit, which provides relief to everyday users.

Customers are advised to plan their transactions accordingly before the new rules come into effect on February 15. This change follows earlier tightening of ATM transaction norms by the bank.