SBI, India’s largest bank, has released important information to its customers.
The news was posted on SBI Bank’s official Twitter page.
SBI Bank
The limit for IMPS Immediate Payment Service is Rs. 2 lakhs to 5 lakhs. The multi-day request of the customers has now been fulfilled.
Also another nice thing is that there is no service charge for this facility.
State Bank of India has decided not to charge any service charges for up to 5 lakh IMPS transactions made through the internet and mobile banking in order to promote the digital banking service of the customers.
The IMPS service is very helpful for those who pay online. This allows you to send money instantly. Money can be sent to those in need all day and all time. Customers can use this service even on holidays.
At the same time a transaction fee will be charged for this service. According to the SBI website, IMPS transactions between Rs 2 lakh and Rs 5 lakh will be charged Rs 20 with GST.
These are in line with existing SBI Bank fees for NEFT / RTGS transactions.