If you have an account in the State Bank of India, there is good news for you. The bank has waived its charges applicable to IMPS, RTGS and NEFT transactions.
SBI now will not charge any money on IMPS transactions initiated through net banking, mobile banking as well as mobile app YONO. It has also decided to waive the charges applicable to IMPS transactions up to Rs 1,000 initiated through bank branches.
The SBI has also decided to waive charges applicable on RTGS and NEFT transactions initiated through online banking and YONO routes.
The SBI will waive the charges applicable on RTGS and NEFT transactions made through online banking and YONO with effect from July 1.
It has also reduced the charges applicable to RTGS and NEFT transactions initiated at the SBI Branches by 20 per cent. This means that the SBI customers who initiate fund transfer through RTGS and NEFT, by visiting an SBI Branch will get a relief of 20 per cent in charges on and after August 1.
However, charges on IMPS transactions up to Rs 1,000 will also be waived if initiated at SBI Branches with effect from August 1.
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