In the ever-evolving landscape of digital payments, the Unified Payments Interface (UPI) has emerged as a champion of convenience and speed. In 2024, the State Bank of India (SBI) implemented specific limits for UPI transactions to ensure secure and efficient digital payments. Understanding these limits is crucial for users to manage their transactions effectively and avoid any inconvenience.
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What is SBI UPI Transaction Limit in 2024?
The State Bank of India (SBI) has set a per-transaction limit of Rs. 1,00,000 for its customers using UPI. This limit applies regardless of the UPI payment app being used. Customers must stay informed about any updates or changes to the SBI UPI limit, as SBI may modify them from time to time. Staying updated with the bank’s rules and regulations ensures that you remain compliant with the current SBI UPI transaction limits.
SBI UPI Transaction Limit Per Day
SBI has set two limits for UPI transactions each day. The maximum amount you can transfer in a single UPI transaction is Rs. 1,00,000. Additionally, SBI permits up to 10 UPI transactions per day. While you can customize the number of transactions within this daily limit using the SBI Yono app, the maximum allowable transaction amount of Rs. 1,00,000 remains fixed and cannot be adjusted.
Related Read: Latest RBI UPI Transaction Limit for Tax Payments
SBI UPI Transaction Limit Per Month in 2024
SBI’s latest update indicates that there is no set monthly limit for UPI transactions. However, these limits may change, so it’s important to stay informed about any future updates.
SBI UPI Transaction Charges
SBI does not impose any additional charges on UPI transactions within the specified limits.
How to Increase SBI UPI Limit?
The maximum allowable amount per transaction, which is Rs. 1,00,000 is fixed and cannot be increased.
How to Change UPI Transaction Limit in SBI?
If you need to adjust your SBI UPI transaction limit, there are two main methods available to you: using the SBI YONO app or visiting your nearest SBI branch. Each method offers a straightforward process to help you manage your UPI transaction limits according to your needs. Here’s how you can proceed with both options:
Method 1: Using the SBI YONO App
- Log In: Open the YONO Lite app and log in with your User ID, password, or M-pin. Find and select the “UPI Transfer” option on the main screen.
- Set Limit: Go to “Set UPI Transaction Limit” or “Manage UPI Limit” under settings. Enter your profile password to authorize changes. Input your desired new limit (up to ₹1 lakh), confirm it, and submit.
- Verify: Review the new limit and confirm. Enter the OTP sent to your mobile to finalize the change. Changes may take up to 24 hours to take effect.
Method 2: Visiting an SBI Branch
- Prepare Documents: Bring a photo ID (Aadhaar card, PAN card, or driver’s license) and your SBI account passbook or debit card.
- Request Limit Increase: Inform the customer service representative of your request to increase your UPI limit. Fill out and submit the required form with your documents.
- Await Confirmation: The representative will process your request and inform you of the estimated completion time, which could be a few hours to a few business days. Once approved, your new limit will be activated.
Conclusion
Navigating the SBI UPI transaction limits for 2024 ensures that you can make the most of your digital banking experience without facing unexpected hurdles. By understanding the daily and monthly transaction limits, as well as being aware of any applicable charges, you can plan your transactions effectively. For any adjustments or inquiries regarding your UPI limits, SBI offers straightforward online and offline solutions to help you manage your banking needs seamlessly. Staying informed about these guidelines will help you maintain smooth and efficient digital transactions.
Related Read: What is the SBI ATM Withdrawal Limit? SBI ATM Withdrawal Limit Per Day
Frequently Asked Questions (FAQs)
1. What is the maximum amount I can transfer in a single SBI UPI transaction in 2024?
In 2024, the maximum amount you can transfer in a single SBI UPI transaction is Rs. 1,00,000. This limit ensures secure and manageable transactions for users.
2. Is the SBI UPI limit different from the overall UPI limit set by NPCI?
Yes, while the National Payments Corporation of India (NPCI) provides a broad framework for UPI transactions, individual banks like SBI set their own specific limits. SBI’s UPI limits are designed within this overarching framework to cater to its user base.
3. How can I check my current SBI UPI transaction limit?
You can easily check your current SBI UPI transaction limit by logging into SBI’s mobile banking app or Internet banking portal. These platforms provide real-time information about your transaction limits and activity.
4. Is there a separate limit on the number of UPI transactions I can do per day?
Yes, SBI imposes a limit on the number of UPI transactions you can perform per day. As of 2024, you can make up to 10 UPI transactions per day. This limit helps in managing and monitoring daily transaction activities.
5. Are there any charges for UPI transactions in SBI?
Typically, SBI does not levy charges on UPI transactions. However, it is always advisable to refer to SBI’s official fee schedule for the most up-to-date information on any potential fees associated with UPI transactions.
6. What should I do if my UPI transaction fails due to exceeding the limit?
If your UPI transaction fails due to exceeding the limit, first verify that you have not surpassed the daily or monthly limits. If the problem persists, contact SBI customer support for assistance. They can help you troubleshoot the issue and provide guidance on how to manage your transactions within the set limits.
