Charges Levied By Key Banks For Immediate Payment Service (IMPS)

IMPS charges: One can transfer money through IMPS at any time or day, irrespective of holidays, under certain conditions.

Charges Levied By Key Banks For Immediate Payment Service (IMPS)

IMPS charges: The maximum amount that can be transferred through IMPS is Rs. 2 lakh.

Immediate Payment Service (IMPS) is an instant payments service that enables round-the-clock money transfer through the use of mobile app, mobile banking or internet banking. One can transfer money through IMPS at any time or day, irrespective of holidays, under certain conditions. However, the maximum amount that can be transferred through IMPS is Rs. 2 lakh. State-run SBI (State Bank of India) to private sector lenders such as HDFC Bank and ICICI Bank - charge a fee ranging from Rs. 1 to Rs. 15 per IMPS transaction.

Here's a comparison of the charges levied by SBI, HDFC Bank, ICICI Bank and Axis Bank for sending money through IMPS:

IMPS charges of State Bank of India

Transaction amountIMPS charges
Up to Rs.1,000No Charges
Rs.1,001 to Rs. 10,000Rs 1 + GST
Rs.10,001 to Rs. 1,00,000Rs 2 + GST
Rs 1,00,001 to 2,00,000Rs 3 + GST

(As mentioned on SBI's website- onlinesbi.com)

IMPS charges of HDFC Bank

Transaction amountIMPS charges
Above Rs. 1 to Rs. 1 lakhRs. 5 + GST
Above 1 lakh to 2 lakhRs. 15 + GST

(As mentioned on HDFC Bank's website- hdfcbank.com)  

IMPS charges of ICICI Bank

Transaction amountIMPS charges
Amount up to Rs. 10,000Rs. 5 + GST
Amount above Rs. 10,000 and up to Rs. 1 lakhRs. 5 + GST
Amount above Rs. 1 lakh and up to Rs. 2 lakhRs. 15 + GST

(As mentioned on ICICI Bank's website- icicibank.com)

IMPS charges of Axis Bank

AmountIMPS charges
Up to Rs.1,000Rs. 2.50 + GST
Rs. 1,000 to Rs. 1,00,000Rs. 5 + GST
Rs. 1,00,000 to Rs. 2,00,000Rs. 15 + GST

(As mentioned on Axis Bank's website- axisbank.com)

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