UPI per transaction, per day limit: HDFC Bank, SBI, ICICI Bank, YES Bank, Kotak Mahindra Bank, PNB, Canara bank (2024)

Last Updated: Aug 08, 2024, 11:50:00 AM IST

The Unified Payments Interface (UPI) was created by the National Payments Corporation of India (NPCI), an entity regulated by RBI, as an instant payment system. UPI is constructed on top of the IMPS infrastructure and permits the immediate transfer of funds between any two parties' bank accounts.

There are restrictions on the amount you can send per transaction and the total amount you can send in a day when transferring money to another person, as determined by NPCI and sometimes by banks.

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What is the limit of fund transfer using UPI?

For normal UPI, the transaction limit is up to Rs 1 lakh per transaction in a day. For a few specific categories of UPI transactions, like Capital Markets, Collections, Insurance, and Foreign Inward Remittances, the transaction limit is up to 2 lakh, and for Initial Public Offering and Retail Direct Scheme, the limit is up to Rs 5 lakh per transaction.

For whom does it have a higher limit?
You can send up to Rs 2 lakh via UPI for merchant transactions such as capital markets, insurance, and foreign inward remittances. The limit is Rs 5 lakh per transaction for booking an IPO or making payments via the RBI Retail Direct Scheme.

UPI transaction limits

• HDFC Bank: HDFC Bank has set a maximum limit of Rs 1 lakh for P2P UPI transactions, or 20 transactions per bank account in a 24-hour period.
• ICICI Bank: According to the ICICI Bank website, "The upper limit mandated by NPCI is Rs 1 lakh per transaction and Rs 1 lakh cumulative transaction value. A maximum of 10 transactions can be initiated in 24 hours from the first transaction."
• State Bank of India: In SBI UPI daily transaction limit of Rs 1,00,000 with daily limit 1,00,000
• Bank of Baroda: Users can send a total of Rs 1,00,000 per day, customers are restricted to a maximum of 20 transactions per day.
• Union Bank of India: The maximum per transaction amount that can be transferred through UPI is Rs. 1 lakh.
• Canara Bank: For P2P type, the maximum limit capped to Rs. 1,00,000/- within 24hrs and up to 20 transactions.
• PNB: At present, the upper limit per UPI transaction is Rs. 1 Lakh.
• Yes Bank: YES Bank customers can transfer a maximum of Rs. 1 Lakh on a daily basis. The UPI limit per transaction set by NPCI per transaction is also Rs. 1 Lakh.
• Kotak Mahindra Bank: You can transfer maximum Rs 1 lakh per day using UPI and you can carry out a maximum of 10 transactions per day. In case, you send money by uploading QR code from gallery, the maximum transaction limit would be Rs 2,000/- per transaction.
• DCB: The daily transaction limit is Rs 1,00,000 for funds transfer made from any UPI app using your DCB Bank account.
• Axis Bank: The overall transaction limit for debit fund transfers/P2P(Person to Person) through UPI within 24 hrs is Rs 1,00,000/- (Rupees One lakh) including all linked accounts in BHIM Axis Pay.
• IndusInd Bank: The UPI limit per day for general transactions stands at Rs 1,00,000. Higher limits are set for specific categories.

( Originally published on Aug 07, 2024 )