If you have an account with the State Bank of India (SBI) this update is important for you. According to the bank’s announcement IMPS (Immediate Payment Service) transaction charges for retail customers will be revised from August 15. For corporate customers the changes will take effect on September 8. These revisions are expected to impact nearly 40 crore SBI customers. No charge For Transactions Up To Rs 25000 For retail customers using Internet banking or the YONO app there will be no charge for transactions up to Rs 25000. For transfers above Rs 25000 charges will apply: From Rs 25000 to Rs 1 lakh – Rs 2 + GST From Rs 1 lakh to Rs 2 lakh – Rs 6 + GST From Rs 2 lakh to Rs 5 lakh – Rs 10 + GST Different Rules For Branch Transactions If you carry out transactions at an SBI branch there will be no charge for amounts up to Rs 1000. For higher amounts the charges will be: Rs 1000 to Rs 10000 – Rs 2 + GST Rs 10000 to Rs 25000 – Rs 4 + GST Rs 25000 to Rs 1 lakh – Rs 4 + GST Rs 1 lakh to Rs 2 lakh – Rs 12 + GST Rs 2 lakh to Rs 5 lakh – Rs 20 + GST Exemptions For Specific Account Holders SBI has waived IMPS charges for certain special salary accounts when transactions are done through online modes. These include Defence Salary Package Police Salary Package Central Government Salary Package and Shaurya Family Pension accounts. The same revised charges will apply to corporate customers starting September 8. However certain current accounts like Gold Diamond Platinum and Rhodium along with government departments and legal entities will be exempt from IMPS charges for online transactions.