IMPS Transactions to Get Costlier: Here’s What Banks Will Charge from August 2025

If you regularly move money through internet or mobile banking, there’s an important update you can’t ignore. From August 2025, several major banks in India will begin levying charges on IMPS (Immediate Payment Service) transactions, which until now were free of cost in most cases.

This shift is set to impact millions of digital banking users, as IMPS has long been one of the most convenient ways to transfer funds instantly across accounts.

A Quick Look at IMPS

IMPS, short for Immediate Payment Service, is a facility managed by the National Payments Corporation of India (NPCI) that allows 24×7 money transfers in real time—yes, even on Sundays and bank holidays.

• Limit per transaction: Up to ₹5 lakh
  
• Access: Internet and mobile banking (SMS and IVR not included)
  

For years, IMPS was offered free by most banks. That’s about to change, with each bank rolling out its own fee structure from August 2025.

New IMPS Charges Across Major Banks

State Bank of India (Effective 15 August 2025)

• ₹25,000 – ₹1,00,000: ₹2 + GST
  
• ₹1,00,001 – ₹2,00,000: ₹6 + GST
  
• ₹2,00,001 – ₹5,00,000: ₹10 + GST
  

Canara Bank

• Up to ₹1,000: No charge
  
• ₹1,001 – ₹10,000: ₹3 + GST
  
• ₹10,001 – ₹25,000: ₹5 + GST
  
• ₹25,001 – ₹1,00,000: ₹8 + GST
  
• ₹1,00,001 – ₹2,00,000: ₹15 + GST
  
• ₹2,00,001 – ₹5,00,000: ₹20 + GST
  

Punjab National Bank (PNB)

• Up to ₹1,000: Free
  
• ₹1,001 – ₹1,00,000:
  
  • Online: ₹5 + GST
    
  • Branch transfer: ₹6 + GST
    
• Above ₹1,00,000:
  
  • Online: ₹10 + GST
    
  • Branch transfer: ₹12 + GST
    

HDFC Bank (Effective 1 August 2025)

• Up to ₹1,000:
  
  • Regular: ₹2.50
    
  • Senior Citizens: ₹2.25
    
• ₹1,001 – ₹1,00,000:
  
  • Regular: ₹5
    
  • Senior Citizens: ₹4.50
    
• Above ₹1,00,000:
  
  • Regular: ₹15
    
  • Senior Citizens: ₹13.50
    

HDFC Gold and Platinum account holders will continue to enjoy free IMPS transactions.

What This Means for Customers

While the charges may look small, frequent users will likely feel the pinch over time. For example:

• An SBI customer transferring ₹2 lakh will now pay ₹6 + GST.
  
• A senior citizen making repeated transfers above ₹1 lakh at HDFC will shell out ₹13.50 per transaction.
  
• PNB customers may want to stick to online transfers, as branch charges are slightly higher.

Digital transactions are here to stay, but what was once a free service will now come with a nominal price tag. With IMPS charges kicking in from August 2025, customers would be wise to review their bank’s updated fee structure and plan transfers strategically. By choosing the right platform—whether online or at the branch—you can keep extra costs to a minimum and continue enjoying the speed and convenience of instant fund transfers.