SBI Charges For Online Money Transfer (NEFT, IMPS, RTGS)

India’s largest bank State Bank Of India gives you the facility of Internet Banking so you can do all the work related to your bank account at your home on Smartphone / PC.

You can do these work through Internet Banking:

There are many other things that you can do at home through Internet Banking facility.

Today, we are going to tell you How much charges sbi levied for online money transfer.

SBI Internet Banking Money transfer Charges

As you all know, there are many different methods for online money transfer. (Read: Difference between IMPS, NEFT and RTGS)

  1. NEFT
  2. IMPS
  3. RTGS
  4. And UPI
  • For faster transactions you can use IMPS, your money will be credited to beneficiary account immediately.
  • If you are transferring higher amount (above 2 lac) then you can use NEFT and RTGS.
  • UPI is the new way to send online money in which you can send 10000 at a time.

Now the biggest question in your mind will be
– “Does the bank charge us for transferring money online, if so, how much does it take?

So let us tell you how much charged by SBI from customers to transfer money online.

For your information, let me tell you – Charges are not too much, so do not think that online Money transfer is not right, but I would say that everyone should do online money transactions. It also saves our time and avoids fraud.

So let’s know about the Charges of SBI for online transactions.

1. SBI IMPS Charges

IMPS – (Immediate payment service), you can send money online in any person’s account immediately, within seconds money will be credited to beneficiary’s account.

Nowadays people use IMPS a lot. You can send maximum 2 lac daily by IMPS, not more than this.

IMPS Charges:

IMPS Transactions
Rs.1 to Rs.1000  NIL
Rs.1001 to 10,000 Rs.1
Rs. 10,001 to 1,00,000 Rs. 2
Rs. 1 lac to 2 lac Rs. 3
  • To transfer Rs.1 to 1000, NIL charges
  • If you are sending 1001 to 1 lac or less through imps, then you will be charges Rs.5 + GST charge.
  • If amount is above 1 lac then you will be charged of Rs.15 + GST

2. SBI NEFT Charges

NEFT (National Electronic Funds Transfer) – you can send maximum Rs.10 lac online.

Suppose you have to send more than 2 lac to someone, then you can use NEFT.

The beneficiary receive your money within 4 hours in bank working days.

NEFT Charges:

NEFT Transactions
 up to Rs.10,000/- Rs.1/-
up to 10,001/- to  1 lac Rs.2/-
up to 1 lac to 2 lac Rs.3/-
more than 2 lac Rs.5/-
  • If you sending Rs.10,000 amount then you will be charged rs.1
  • If the amount is from 10001 to 1 lac then you have to pay Rs.2 charge.
  • From 1 lac to 2 lac, you will be charged Rs.3
  • And if the amount is more than 2 lac then you have to pay Rs.5.

3. SBI RTGS Charges

RTGS – (Real Time Gross Settlement) used to transfer minimum 2 lac and maximum 10 lac amount online. The money transfer process work in real-time and credited to beneficiary’s account immediately.

RTGS Charges:

RTGS Transactions
2 lac to 5 lac Rs.5/-
Above 5 lac Rs.10/-
  • If you are sending someone from 2 lac to 5 lac through RTGS then you will be charged Rs.5
  • If you are sending more than 5 lac then you will be charged for Rs.10

4. UPI Charges

Free! Yes, the Unified Payment interface is free so far, you can send Rs.10,000 to anyone at one time.

At the moment, all the banks do not charge for UPI transactions.

Almost all banks support the UPI, if you want to send someone a small amount online and avoid the Charges, you can send money using UPI.

Final Words

As you can see charges are not much and remember those charges levied for maintenance to provide you safe and better net banking experience. Online money transfer habit save your precious time and also Protects you from fraud.