SBI, HDFC, ICICI IMPS Fees Updated:New Charges & Transaction Limits for Digital Transfers

Big banks like SBI, HDFC Bank, and ICICI Bank have started charging small fees on IMPS transactions, both online and through branches. IMPS (Immediate Payment Service) is a popular way to send money instantly, any time of the day, including weekends and holidays.

Earlier, many banks allowed IMPS transfers for free to encourage people to use digital payments. But now, with more and more people using this service and the rising cost of handling transactions, banks have begun adding nominal charges. The fees depend on the amount you send, how you transfer (online or branch), and your account type.

HDFC Bank IMPS Charges

From August 1, 2025, HDFC Bank revised its IMPS fees for online transactions. The charges vary depending on the transfer amount and customer type:

• Up to Rs 1,000: Rs 2.50 for regular customers; Rs 2.25 for senior citizens.
• Rs 1,001 to Rs 1,00,000: Rs 5 for regular customers; Rs 4.50 for senior citizens.
• Above Rs 1,00,000: Rs 15 for regular customers; Rs 13.50 for senior citizens.

Notably, Speciale Gold and Platinum account holders will continue to enjoy zero IMPS charges, making these premium accounts cost-effective for high-value digital transactions.

SBI IMPS Charges and Limits

State Bank of India (SBI) has clarified that online IMPS transfers are no longer free. While branch-based IMPS charges remain unchanged (Rs 2 + GST to Rs 20 + GST depending on the amount), the bank has introduced new charges for online transfers:

• Above Rs 25,000 to Rs 1,00,000: Rs 2 + GST
• Above Rs 1,00,000 to Rs 2,00,000: Rs 6 + GST
• Above Rs 2,00,000 to Rs 5,00,000: Rs 10 + GST

The IMPS transaction limit at SBI is capped at Rs 5 lakh per transaction, available 24x7 across all channels except SMS and IVR.

ICICI Bank IMPS Fees and Transaction Limits

ICICI Bank offers 24x7 instant IMPS fund transfers through multiple channels, including internet banking, the iMobile app, and InstaBIZ. The minimum transfer amount is Rs 1, while the maximum is Rs 5 lakh per transaction, with a daily limit of up to Rs 20 lakh when using the iMobile app. For transfers made using a mobile number and MMID, the limit is capped at Rs 10,000.

Upadted IMPS charges:

• Up to Rs 1,000-Rs 2.50 + GST
• Rs 1,001 to Rs 1,00,000 - Rs 5 + GST
• Above Rs 1,00,000 - Rs 15 + GST

Disclaimer: The views and recommendations expressed are solely those of the individual analysts or entities and do not reflect the views of Goodreturns.in or Greynium Information Technologies Private Limited (together referred as "we"). We do not guarantee, endorse or take responsibility for the accuracy, completeness or reliability of any content, nor do we provide any investment advice or solicit the purchase or sale of securities. All information is provided for informational and educational purposes only and should be independently verified from licensed financial advisors before making any investment decisions.