There is a great news for customers of State Bank of India. Yes, SBI has reduced charge of NEFT, IMPS and RTGS up to 80% for online fund transfer.
The bank has reduced the Charges for online fund transfer so people use online money transfer facility as much as possible.
Recently SBI has increased the monthly average balance for the savings account to Rs. 5000 and increased ATM cash withdrawal charges, there was a lot of resentment among the customers about this issue.
For the past some time it was being demanded that if online transfer is being promoted so much, then the charges should also be reduced, so that people use more online money transfer facility
Keeping this demand of its customers, the bank has reduced the Charges for the IMPS, NEFT and RTGS.
New SBI IMPS Charges
IMPS is used mostly by the people as money quickly transfer to beneficiary’s account.
- You will no longer be charged for sending money from IMPS to Rs.1 to Rs.1000. Prior to this, you had to pay Rs.5 + tax .
- If you send money from RS.1000 to 1 lac through IMPS, then you will be charged Rs.5 + GST (Rs 6-7).
- In the same way if you transfer from 1 lac to 2 lac, then you will be charged Rs.15 + GST (Rs 16-17).
New NEFT & RTGS Charges
NEFT and RTGS are used by people to transfer large amounts of money. SBI has reduced the charges for both.
You can transfer Rs.1 to 10 lac through NEFT.
- To transfer RS.10,000, you will now have to pay only Rs.1, which was Rs.2 earlier.
- For Rs.10000 to 1 lac, you will be charges Rs. 2 which was Rs.4 earlier.
- 1 lac to 2 lac, you will now have to pay only Rs.3, which was Rs.13 earlier.
- And if you send money more than 2 lac, then you will be charged RS.5, which was Rs.20 earlier.
Using RTGS you can transfer minimum 2 lac and maximum 10 lac..
- To transfer 2 lac to 5 lac through RTGS, you will be charges Rs 5, before that the charge was Rs 20.
- For 5 lac to 10 lac, you will be charges Rs.10, which was Rs.40 earlier.
So these new charges for NEFT, IMPS and RTGS for SBI customers to transfer money online.