South Indian Bank IMPS Charges and Limits Guide
South Indian Bank IMPS Charges, Limits, and How to Use
South Indian Bank IMPS charges range from Rs. 5 to Rs. 15 per transaction depending on the transfer amount when done at a branch. Online IMPS transfers via SIB Mirror+ or net banking are free, and funds reach the beneficiary instantly at any time of day or night.
SIB IMPS Charges
- Up to Rs. 1,000: Free (online); Rs. 5 (branch)
- Rs. 1,001 to Rs. 1 lakh: Free (online); Rs. 5 (branch)
- Rs. 1 lakh to Rs. 2 lakh: Free (online); Rs. 15 (branch)
GST is applicable on branch charges. Online IMPS via SIB Mirror+ or net banking is free of charge.
IMPS Transaction Limits at SIB
- Minimum: Rs. 1
- Maximum per transaction: Rs. 5 lakh
- Daily limit: Up to Rs. 5 lakh (subject to beneficiary limits)
IMPS vs NEFT vs UPI: Quick Comparison
- IMPS: Instant, 24×7, up to Rs. 5 lakh
- NEFT: 24×7, half-hourly batches, no upper limit
- UPI: Instant, 24×7, up to Rs. 1 lakh per transaction
How to Send Money via IMPS on SIB Mirror+
- Open SIB Mirror+ and tap Fund Transfer.
- Choose IMPS.
- Enter the beneficiary account number and IFSC code, or use MMID and mobile number.
- Enter the amount and tap Send.
- Confirm with OTP.
FAQ
Is IMPS available 24 hours a day at South Indian Bank?
Yes. IMPS is a real-time payment system that works 24×7, including Sundays and bank holidays. Funds are credited instantly.
What is the maximum amount I can transfer via IMPS at SIB?
The maximum IMPS transaction limit at South Indian Bank is Rs. 5 lakh per transaction, subject to your account’s daily transfer limit.
What happens if an IMPS transaction fails at SIB?
If the funds are debited but not credited to the beneficiary, the amount is auto-reversed within 24 to 48 hours. Raise a complaint via SIB Mirror+ or call 1800 425 1809 if the reversal is delayed.
Key Takeaways
- IMPS is free online; branch IMPS costs Rs. 5 to Rs. 15 plus GST.
- Maximum transfer limit per IMPS transaction is Rs. 5 lakh.
- IMPS transfers are instant and available 24×7.
- For large amounts above Rs. 5 lakh, use NEFT or RTGS instead.
