State Bank of India (SBI) has revised charges on fund transfers through the IMPS (Immediate Payment Service) with effect from today. 

Fund transfers above Rs 25,000 through the online channel will attract nominal charges ranging from Rs 2-10 plus Goods and Services Tax (GST). Small-value transfers up to Rs 25,000 are free.

For transactions over Rs 25,000 and up to Rs 1 lakh, the service charge would be Rs 2. For amounts over Rs 1 lakh and up to Rs 2 lakh, it would be Rs 6. And for transfers of Rs 2-5 lakh, the charge would be Rs 10. GST would apply in all cases.

There is no change in charges for fund transfer through IMPS done via SBI branches.