IMPS Is Not Free: Comparison Of Charges By SBI, HDFC, ICICI, PNB And Others

Last Updated:August 21, 2025, 09:30 IST

IMPS Charges Comparison: Several lenders, including SBI, HDFC Bank, Punjab National Bank (PNB) and Canara Bank, have announced or revised transaction charges.

IMPS Charges Comparison: Immediate Payment Service (IMPS), a popular real-time digital payment system run by the National Payments Corporation of India (NPCI), is no longer free across many banks. Several lenders, including State Bank of India (SBI), HDFC Bank, Punjab National Bank (PNB) and Canara Bank, have announced or revised transaction charges.

IMPS allows customers to transfer money instantly, 24×7, with a per-transaction limit of Rs 5 lakh (except via SMS and IVR). Here’s a quick look at what each bank will now charge:

SBI

Up to Rs 25,000: Free

Rs 25,001 – Rs 1,00,000: Rs 2 + GST

Rs 1,00,001 – Rs 2,00,000: Rs 6 + GST

Rs 2,00,001 – Rs 5,00,000: Rs 10 + GST

(Earlier, these transactions were free of cost.)

Canara Bank

Below Rs 1,000: Free

Rs 1,000 – Rs 9,999: Rs 3 + GST

Rs 10,000 – Rs 24,999: Rs 5 + GST

Rs 25,000 – Rs 99,999: Rs 8 + GST

Rs 1,00,000 – Rs 1,99,999: Rs 15 + GST

Rs 2,00,000 – Rs 5,00,000: Rs 20 + GST

Punjab National Bank (PNB)

Up to Rs 1,000: Free

Rs 1,001 – Rs 1,00,000: Rs 6 + GST (branch), Rs 5 + GST (online)

Above Rs 1,00,000: Rs 12 + GST (branch), Rs 10 + GST (online)

HDFC Bank (effective August 1, 2025)

Up to Rs 1,000: Rs 2.50 (regular), Rs 2.25 (senior citizens)

Rs 1,001 – Rs 1,00,000: Rs 5 (regular), Rs 4.50 (senior citizens)

Above Rs 1,00,000: Rs 15 (regular), Rs 13.50 (senior citizens)

Speciale Gold/Platinum account holders: Free

ICICI Bank – IMPS Charges & Limits

Transaction Limits (24x7x365)
• Minimum: Rs 1
• Maximum: Rs 5 lakh per transaction (Rs 20 lakh per day via iMobile app)
Channels:
• Internet Banking / Account No + IFSC → Up to Rs 5 lakh
• Mobile Number + MMID → Up to Rs 10,000
• API Banking / InstaBIZ / CIB → Up to Rs 5 lakh
Charges (varies slightly by channel):
• Up to Rs 1,000 → Rs 2.50 + GST
• Rs 1,001 – Rs 1,00,000 → Rs 5 + GST
• Above Rs 1,00,000 → Rs 15 + GST

Transaction Slab	SBI	Canara Bank	PNB	HDFC Bank
Up to Rs 1,000	Free	Free	Free	Rs 2.50 (regular) / Rs 2.25 (senior)
Rs 1,001 – Rs 10,000	Rs 2 + GST (25k–1L)	Rs 3 + GST	Rs 5 + GST (online) / Rs 6 + GST (branch)	Rs 5 (regular) / Rs 4.50 (senior)
Rs 10,001 – Rs 25,000	Rs 2 + GST (25k–1L)	Rs 5 + GST	Rs 5 + GST (online) / Rs 6 + GST (branch)	Rs 5 (regular) / Rs 4.50 (senior)
Rs 25,001 – Rs 1,00,000	Rs 2 + GST (25k–1L)	Rs 8 + GST	Rs 5 + GST (online) / Rs 6 + GST (branch)	Rs 5 (regular) / Rs 4.50 (senior)
Rs 1,00,001 – Rs 2,00,000	Rs 6 + GST	Rs 15 + GST	Rs 10 + GST (online) / Rs 12 + GST (branch)	Rs 15 (regular) / Rs 13.50 (senior)
Rs 2,00,001 – Rs 5,00,000	Rs 10 + GST	Rs 20 + GST	Rs 10 + GST (online) / Rs 12 + GST (branch)	Rs 15 (regular) / Rs 13.50 (senior)

Varun Yadav

Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More

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