State Bank of India (SBI) is one of the largest banks in India and is headquartered in Mumbai. It is a public sector bank and was founded in 1955 as a result of the nationalization of the Imperial Bank of India. SBI provides a wide range of banking services to individuals, businesses, and corporates, including savings accounts, current accounts, loans, credit cards, insurance, and investment services.
When doing an IMPS transfer from your SBI account, it is imperative to know how much of the amount you can actually send. Thus, we provide you with all the information around SBI IMPS limit per day along with the IMPS limit SBI for every transaction. Read on.
SBI IMPS Limit
Earlier in 2010, when the IMPS system was launched, SBI was one of the only banks to be participating with RBI in the project. At that time, the IMPS limit was set at Rs 1 lakh per day. This was for all the participating banks (SBI, BOI, UBI, ICICI, HDFC, Axis and Yes Bank).
However, from 1st Feb 2022 i.e. 12 years from its inception, limit for SBI IMPS was enhanced. Currently, SBI IMPS limit is set at Rs 5 lakhs per day. Please note that this limit is not per transaction, i.e. you may make multiple transactions or a single transaction but it cannot go beyond Rs 5 lakhs in a day.
SBI IMPS Charges
There are no SBI IMPS charges when the transfer is done digitally, i.e. using either the mobile banking or internet banking option.
However, if done at the bank, you will be charged with:
Rs 5 for IMPS amount of up to Rs 1 lakh
Rs 15 for transfers above Rs 1 lakh and up to Rs 5 lakhs
Also, check all related details about the IMPS:
|ICICI IMPS Limit||SBI IMPS||Indian Bank IMPS Charges|
|HDFC Bank IMPS||HDFC IMPS Charges||PNB IMPS Charges|
|IMPS Full Form||IMPS Charges||SBI IMPS Charges|
|MMID||IMPS Charges ICICI Bank||Bank of Baroda IMPS Limit|
|IMPS Limit||SBI IMPS Timings||HDFC IMPS Limit|
SBI IMPS Limit: FAQs
SBI customers can transfer up to Rs 5 lakhs in a day using the IMPS mode.
You can make up to Rs 5 lakhs per transaction as per the SBI IMPS rules. That said, it is the same for per day as well. If you’ve exhausted the entire SBI IMPS limit in one transaction of Rs 5 lakhs, you won’t be able to make any more transactions in that day using the IMPS facility.
SBI IMPS timings for online mode: 24×7
SBI IMPS charges for online mode are NIL but for doing it at-the-bank, you will be charged with certain fees. Check SBI IMPS charges here.