UPI payment limit: Till now UPI payment is completely free. More than 20 crore transactions are done with its help on a daily basis. You know that NPCI has also fixed the limit for UPI payment.
UPI, an instant payment system developed by the National Payment Corporation of India (NPCI), has become the most popular medium of online payment. On a daily basis, more than 20 crore transactions are done from it, whose value is in thousands of crores. UPI uses IMPS infrastructure and within seconds, money is transferred from one account to another. This means of payment is completely free, so it is also so popular. Did you know that there is a limit for UPI transactions as well?
BHIM UPI limit is Rs 1 lakh
As we know, with the help of UPI, transactions can be done 24 hours a day. According to the information available on the NPCI website, a maximum amount of Rs 2 lakh can be transacted through UPI at a time. If a user transfers with the help of BHIM UPI, then he can transfer a maximum of Rs 1 lakh in one transaction. According to the information available on the NPCI website, the limit for one day from a bank account is only Rs 1 lakh.
There are mainly three types of limits
NPCI has given the freedom to all the banks to decide its limit according to their convenience. This limit may be different for different banks. There are mainly three types of limit regarding UPI Payment. The first limit is the maximum transaction value in a day. The second limit is the maximum number of transactions in a single time and the third limit is the maximum number of transactions in a day.
Up to 10 fund transfers can be made
According to the information available on the HDFC Bank website, with the help of HDFC Bank UPI, a maximum of 10 fund transfers can be done in a day. The value of the total transaction cannot exceed Rs 1 lakh. For new users, the limit for the first 24 hours is Rs 5000.
Which bank has the limit?
State Bank of India customers can do a maximum transaction of Rs 1 lakh in a day with the help of UPI. Similarly, for Bank of Baroda this limit is Rs 1 lakh, for Punjab National Bank this limit is Rs 1 lakh, for Axis Bank Rs 1 lakh and for ICICI Bank also Rs 1 lakh. ICICI Bank customers can do a maximum of 10 transactions in 24 hours. For Google Pay users, the bank has fixed a limit of 25 thousand.
