Nowadays UPI has become the biggest means of payment (UPI transaction limits). Generally, a person can transact up to ₹ 1 lakh in a day through UPI. Some banks have also imposed restrictions on the number. Tax payment IPO RBI Retail Direct Educational Institutes and Hospitals have a limit of up to ₹ 5 lakh / day.
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UPI Transactions Limit: Nowadays UPI (Unified Payments Interface) has become the biggest support in our daily payments. Whether it is paying for tea at the shop or online shopping, everything is done in a jiffy through UPI. But have you ever wondered how many transactions (UPI transaction limits) can be done in a day through UPI and up to what amount? Let’s understand this in simple language.
What is the maximum limit in a day?
Generally, any person can transact up to ₹1 lakh in a day through UPI. This limit applies to both P2P (person to person) i.e. sending money to someone and P2M (person to merchant) i.e. giving money to a shopkeeper/trader. However, it is not known whether charges will be deducted for exceeding this limit. It is worth noting that when we transact more than the limit, the process will stop automatically after that.
Is there a limit on the number of transactions?
Some banks have also put restrictions on the number. According to the website of SBI (State Bank of India), it allows its customers a maximum of 20 transactions in a day, but this is applicable only on P2P transfers. At the same time, there is no limit on P2M payments (such as shopping, bill payments). HDFC Bank has also kept the same rule. That is, ₹ 1 lakh or 20 transactions, whichever is completed first.
Where can you make payments more than ₹ 1 lakh?
RBI has given higher limits in some categories. For tax payments, IPOs, RBI Retail Direct, educational institutes and hospitals, it is ₹ 5 lakh / day. Credit card payments, loan repayments, insurance, capital markets and foreign remittances are ₹ 2 lakh / day.
Rules for new users
If you are a new UPI user in a bank like HDFC, then “cooling off period” applies. Android users can send only up to ₹5,000 in the first 24 hours. This limit for iPhone users is for the first 72 hours.
UPI Lite limit
UPI Lite is available for small payments. In which you can send up to ₹1,000 at a time. You can add up to ₹4,000 to your wallet throughout the day. The maximum capacity of the wallet at any time will be ₹5,000.
UPI123Pay limit
UPI123Pay is for those who do not have a smartphone or internet. Here the limit for every transaction is ₹10,000. This payment can be made through IVR call, missed call, feature phone app or sound-based technology.
