Instant Money Transfer: Charges Levied By Banks For Immediate Payment Service (IMPS)

Immediate Payment Service (IMPS), an instant interbank electronic fund transfer facility, allows the customer to transfer funds on a 24x7 basis and 365 days of the year. The maximum amount that can be transferred via IMPS is Rs 2 lakh. This facility is available only via internet banking. Most banks in the country offer the facility of IMPS for making an online money transfer. State-run SBI (State Bank of India) to private sector lenders HDFC Bank and ICICI Bank- charge a fee ranging from Rs 1 to Rs 15 (excluding GST) per IMPS transaction. However, SBI IMPS transactions up to Rs 1,000 are free..(Also read: NEFT Transaction Charges Levied By Five Key Banks Compared).Here's a comparison of different IMPS charges levied by SBI, ICICI Bank and HDFC Bank:.State Bank of India (SBI).For IMPS transfer, SBI charges Rs. 5 plus GST (Goods and Services Tax) for any transaction of an amount between Rs 1,001 to Rs. 1 lakh. For an IMPS transaction from Rs. 1,00,001 to Rs. 2 lakh through net banking or online banking, SBI charges a fee of Rs. 15 plus GST, it mentioned on its website- onlinesbi.com..table.tab_1 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; border-right: solid 1px #ccc; font-size: 14px; } table.tab_1 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tab_1 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; } table.tab_1 th:nth-child(1), table.tab_1 td:nth-child(1) { width: 40%; text-align: left; } table.tab_1 th:last-child, table.tab_1 td:last-child { border-right: 0; } @media only screen and (max-device-width: 480px) and (min-device-width: 320px) { table.tab_1 { display: table; min-width: 280px; max-width: 100%; } table.tab_1 th, table.tab_1 td, table.tab_1 th:nth-child(n+1), table.tab_1 td:nth-child(n+1) { display: table-cell; line-height: normal; } table.tab_1 th:last-child, table.tab_1 td:last-child { border-right: 0;} } . No Amount Charge 1 Up to Rs.1000/- No Charges 2 Rs.1001 to Rs 10,000/- Rs.1/- + GST 3 Rs.10,001 to Rs 1,00,000/- Rs.2/- + GST 4 Rs 1,00,001 to 2,00,000/- Rs.3/- + GST .(As mentioned on SBI's website- sbi.co.in).HDFC Bank.HDFC Bank levies a fee of Rs 5 plus GST per IMPS transaction of an amount up to 1 lakh. For an amount between Rs 1 lakh and Rs 2 lakh, the bank charges a fee of Rs 15 plus GST, according to its website- hdfcbank.com..table.tble_wrap4 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; } table.tble_wrap4 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_wrap4 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_wrap4, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_wrap4, thead, tbody, th, td, tr { font-size: 14px; } table.tble_wrap4 th { padding: 4px; } table.tble_wrap4 td { padding: 4px; } } /*Media Query END*/ . Transaction Charges IMPS charges Above Rs 1 to Rs 1 Lakh Rs 5 + Applicable GST Above 1 lakh to 2 Lakh Rs 15 + Applicable GST .(As mentioned on HDFC Bank's website- hdfcbank.com).ICICI Bank.For IMPS transfers, ICICI Bank charges a fee of Rs. 5 plus GST per transaction for an amount up to Rs. 1 lakh. For an amount between Rs. 1 lakh and Rs. 2 lakh, the bank levies Rs. 15 plus GST per transaction, according to its website-icicibank.com. table.tble_wrap3 { border-top: solid 1px #ccc; border-left: solid 1px #ccc; xborder-right: solid 1px #ccc; font-size: 16px; } table.tble_wrap3 th { background-color: #f5f5f5; padding: 5px 10px; border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; } table.tble_wrap3 td { border-bottom: solid 1px #ccc; border-right: solid 1px #ccc; padding: 5px 10px; line-height: 18px; } /*Media Query start*/ @media only screen and (max-width: 760px), (min-device-width: 768px) and (max-device-width: 1024px) { /* Force table to not be like tables anymore */ table.tble_wrap3, thead, tbody, th, td, tr { font-size: 14px; } } /* Smartphones (portrait and landscape) ----------- */ @media only screen and (min-device-width : 320px) and (max-device-width : 480px) { body { padding: 0; margin: 0; } table.tble_wrap3, thead, tbody, th, td, tr { font-size: 14px; } table.tble_wrap3 th { padding: 4px; } table.tble_wrap3 td { padding: 4px; } } /*Media Query END*/ . Transaction Charges IMPS charges Amounts upto Rs 10,000 Rs 5 + Applicable GST Amounts above Rs 10,000 and upto Rs 1 lakh Rs 5 + Applicable GST Amounts above Rs 1 lakh and upto Rs 2 lakh Rs 15 + Applicable GST .(As mentioned on ICICI Bank's website- icicibank.com)

Instant Money Transfer: Charges Levied By Banks For Immediate Payment Service (IMPS)

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