No hidden charges
UPI transactions typically have minimal to no transaction charges, promoting cost-effective digital transactions.
Interoperability
UPI is interoperable across various banks and payment service providers, promoting a unified digital payment ecosystem.
Cashless economy
UPI transactions contribute to the vision of a cashless economy by reducing the reliance on physical currency.
Convenience
Users can initiate transactions from the comfort of their homes, reducing the need to visit banks or ATMs.
Financial inclusion
UPI has played a significant role in bringing financial services to underbanked and rural areas.
UPI transaction limits
Transaction type | Per transaction limit | Daily limit |
UPI transactions | Varies by bank | Generally, up to Rs. 1 lakh |
UPI collects requests | Varies by bank | Generally, up to Rs. 1 lakh |
UPI payments to Merchant | Varies by bank | Generally higher limits |
UPI transaction charges
Most banks do not charge any fees for UPI transactions, but it is recommended to check with your bank for specific details.
