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SBI declares no service charges for transactions up to Rs.1000
Posted on: 13/Jul/2017 9:41:58 AM
The State Bank of India has withdrawn service charges for transactions for the amounts of Rs. 1000 and less done through IMPS (Immediate Payment Service).
The customers can undertake immediate financial transactions through IMPS on net banking or mobile banking.
In this situation, SBI has withdrawn the service charges of Rs. 5 for transactions of Rs. 1000 and less.
This measure has been undertaken by the State Bank of India to encourage the trend of cashless transactions for lower amounts.
However, if financial transactions of amounts above Rs. 1000 up to Rs. 1 Lakh are undertaken, service charges of Rs. 5 and the additional GST charges will be collected.
If the transactions are in the range Rs. 1 Lakh – Rs. 2 Lakhs, a service charge of Rs. 15 along with GST will be collected.
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