INSUBCONTINENT EXCLUSIVE:
Most banks in the country offer the facility of IMPS for making an online money transfer.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
(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
For an IMPS transaction from 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.NoAmountCharge1Up to Rs.1000/-No Charges2Rs.1001 to Rs 10,000/-Rs.1/- +
GST3Rs.10,001 to Rs 1,00,000/-Rs.2/- + GST4Rs 1,00,001 to 2,00,000/-Rs.3/- + GST(As mentioned on SBI's website- sbi.co.in)HDFC BankHDFC 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.Transaction
ChargesIMPS chargesAbove Rs 1 to Rs 1 LakhRs 5 + Applicable GSTAbove 1 lakh to 2 LakhRs 15 + Applicable GST(As mentioned on HDFC Bank's
website- hdfcbank.com)ICICI BankFor IMPS transfers, ICICI Bank charges a fee of Rs
5 plus GST per transaction for an amount up to Rs
2 lakh, the bank levies Rs
15 plus GST per transaction, according to its website-icicibank.com.Transaction ChargesIMPS chargesAmounts upto Rs 10,000Rs 5 + Applicable
GSTAmounts above Rs 10,000 and upto Rs 1 lakhRs 5 + Applicable GSTAmounts above Rs 1 lakh and upto Rs 2 lakhRs 15 + Applicable GST(As
