Gone are the days when carrying cash was mandatory for you to step out of your home. We are in an era where money transfer happens within minutes. Be it in a mall or a roadside coconut vendor everyone accepts the payment online.
Unified Payments Interface (UPI) is a digital payment system developed by the NPCI that helps to instantly transfer funds between two banks through a mobile platform.
Things to know about UPI Transaction Limit
- For UPI transfers, the NPCI has set a transaction limit and a per-day transaction limit. At present, the UPI transfer limit per UPI transaction is Rs 1 Lakh.
- Since UPI is based on IMPS technology, this limit is allowed.
- The maximum number of UPI transactions is typically limited to 20 in most cases.
- While each UPI transaction has a cap of Rs 1 lakh, the upper limit varies from bank to bank. As a result, the upper limit could range from Rs 10,000 to Rs 1 lakh.
- The transaction limit per day for UPI transactions is Rs 1 Lakh.
- The BHIM UPI transaction cap is Rs 40,000 per transaction and 40,000 in 24 hours. This cap is available per the BHIM-linked bank account.
- The limit may be revised from time-to-time.
- For merchant payment, the maximum amount would be Rs 2 lakh in 24 hours.
- If you change your mobile handset, mobile number, or UPI PIN, you are limited to a maximum of Rs 5000. This strict cap is in place for the first 24 hours.
UPI transaction limit is different for different bank accounts. Here are some of the banks with their per-transaction and per-day UPI transaction limits:
1. SBI - Rs 1 Lakh per transaction. In 24 hours, a maximum of 10 peer-to-peer transactions is allowed.
2. HDFC Bank - Rs 1 Lakh per transaction
3. Kotak Mahindra Bank - Rs 25,000 per transaction, 2 transactions per day
4. Central Bank - Rs 25,000 per transaction
5. IDFC First Bank - Rs 25,000 per transaction
6. ICICI bank - Rs 1 Lakh per transaction. The account holders of ICICI Bank can transfer 20 times in 24 hours.
8. Bank of India - Rs 10,000 per transaction
Like Phonepe and Google Pay, Paytm also permits up to Rs 1 lakh for a single transaction. You can't pay more than Rs 1 lakh in 24 hours.
|S.No.||Bank Name||Upper Limit Per Transaction||Per Transaction Limit|
|1||State Bank of India||Rs. 1 lakh||Rs. 1 lakh|
|2||ICICI Bank||Rs. 1 Lakh||Rs. 1 Lakh|
|3||HDFC Bank||Rs. 1 lakh||Rs. 1 lakh|
|4||Andhra Bank||Rs. 1 lakh||Rs. 1 lakh|
|5||Axis Bank||Rs. 1 lakh||Rs. 1 lakh|
|6||Bank of Baroda||Rs. 25,000||Rs. 50,000|
|7||Bank of Maharashtra||Rs. 1 lakh||Rs. 20,000|
|8||Canara Bank||Rs. 1 lakh||Rs. 1 lakh|
|9||Corporation Bank||Rs. 50,000||Rs. 1 lakh|
|10||Bank of India||Rs. 10,000||Rs. 1 lakh|
|11||Central Bank||Rs. 20,000||Rs. 50,000|
|12||Dena Bank||Rs. 1 lakh||Rs. 1 lakh|
|13||Citibank||Rs. 1 lakh||Rs. 1 lakh|
|14||City Union Bank||Rs. 1 lakh||Rs. 1 lakh|
If you're done with the maximum allowed number of transactions, you can't do any more UPI transactions. You can wait 24 hours after the first transaction of the day.
The daily limit of the BHIM app is only Rs 40,000. The per transaction limit is also Rs 40,000. This cap extends to all bank accounts related to the BHIM app.
Currently, the maximum amount of Rs 1 lakh can be transferred, as per the NPCI and Indian government-defined UPI guidelines. So even if you ask your bank, there is no possibility of increasing the transaction limit. Bank officials will decline your request.
Under the NPCI limit, banks can set their own limits. They can do this to give their customers more protection. As a result, some banks have exercised their authority and put a lower cap on their customers.