The Unified Payments Interface (UPI) is the backbone of digital transactions in India. The general limit for UPI transactions is set at Rs 1,00,000 per transaction by the National Payments Corporation of India (NPCI). However, not all banks allow their customers to make transactions up to this limit.
UPI transaction limit:
Different banks in the UPI network have their own transaction limits for daily, weekly, and monthly transfers.
More From This Section
HDFC Bank, YES Bank and more: 4 credit card changes you need to know about
UPI transaction limits by different banks:
Daily UPI transaction limit
State Bank of India (SBI): Rs 1,00,000
ICICI: Rs 1,00,000
HDFC: Rs 1,00,000
AXIS BANK: Rs.1,00,000
PNB: Rs 50,000
Weekly UPI transaction limit
IDFC First Bank: Rs 1,00,000
Monthly UPI transaction limit
IDFC First Bank: Rs 30,00,000
State Bank of India (SBI): No monthly limit is specified
Generally, banks set daily limits, but some banks also set weekly and monthly limits.
Here are some reasons why your bank may impose a lower transaction limit:
Each bank can set its own UPI transaction limits based on its risk management policies, infrastructure, and customer base. Some banks might set lower limits to mitigate potential fraud risks or technical issues.
For new UPI users, the daily transaction limit is Rs 5,000 for the first 24 hours.
Recently, the Reserve Bank of India (RBI) announced new UPI transaction limits, allowing individuals to make payments through UPI up to Rs 5 lakh for specific payments like those to hospitals and educational institutes, a significant increase from the previous Rs 1 lakh limit.
Banks may impose different limits based on the type of account you hold or your transaction history. Premium account holders or those with a long-standing relationship with the bank might have higher limits compared to regular or new customers.
Risk management and fraud prevention
To protect customers from fraudulent activities, banks might set lower transaction limits. High transaction limits can be a target for fraudsters, so banks often keep them lower to reduce potential risks.
Operational constraints
Technical capabilities and operational bandwidth of a bank's UPI system can also dictate transaction limits. Banks with advanced IT infrastructure may offer higher limits compared to those with less robust systems.
Methods to send money to someone who is not registered on UPI:
Direct bank transfer: You can transfer money directly to the recipient's bank account using their account number and IFSC code through various methods like NEFT, RTGS, or IMPS.
Mobile wallets: Many mobile wallets, such as Paytm, Google Pay, and PhonePe, allow you to transfer money to someone using their mobile number or email. These wallets can be linked to bank accounts for direct transfer.
