Is There Any Limit On Transaction Through UPI? How To Know If You Have Reached The Limit? : Explained

A few years ago, accompanying cash was mandatory if you were to step out of your home, and right now, we are living in an era where you can transfer money in a matter of seconds. No matter where you shop or purchase from, everyone is now accepting online payment. The UPI or Unified Payments Interface is the reason behind this revolution in the financial industry.

It is a digital payment system that has been developed by the NPCI or National Payments Corporation of India (under the Reserve bank of India) and helps in transferring payments between two parties instantly utilizing a mobile platform. The best part about this digital payment is that everyone can easily access it, be it a roadside vendor or a prestigious brand outlet in a mall everyone can use UPI. In this article, we will discuss the transaction limit of UPI for everyone (including merchants).

Things you should know regarding UPI transfer limit

For every UPI transfer, the governing body NPCI has fixed a certain transaction or money transfer limit for everyday transactions. Currently, the UPI transfer limit for every UPI transaction has been set at Rs.1 Lakh.

  • United Payment Interface is based upon IMPS or Immediate Payment Service and that is why the limit is set at Rs. 1 lakh.
  • You can make a maximum of 20 transactions every day using the UPI method.
  • Although the maximum transaction limit in the case of UPI is Rs.1 lakh, it can also be dependent upon the banks who are issuing these transactions. For example, the upper limit of every transaction can range from Rs. 1000 to Rs. 1 Lakh (depending on the banks).
  • The maximum transaction amount for a person with UPI ID is Rs. 1 lakh.
  • The transaction cap for BHIM UPI is Rs. 40000 per transaction and it is also the maximum UPI limit per day. This transaction cap applies to anyone with a BHIM-linked bank account. This transaction cap can also be revised once in a while.
  • In the case of a merchant payment, the maximum transaction cap is increased to Rs. 2 lakhs per day.
  • If you change your smartphone device, UPI PIN, mobile number, etc. then your maximum limit will be set to Rs. 5000. This transaction cap will be applicable for only 24 hours.

The maximum UPI limit per day is set at Rs. 1 lakh for everyone with a bank account.

UPI transaction limit update 2022: Increased transaction limit for RDS and IPO

According to the new rules and updates provided by the NPCI, the current UPI transaction limit for Retails Direct Scheme or RDS and Initial Public Offering or IPO has been set at Rs. 5 lakhs. The NPCI circular with the details of this new rule was released in December 2021. However, it is also to be noted that in September 2021 NPCI released another circular mentioning the standardized UPI transaction limit.

Currently, the NPCI has instructed the banks to follow these particulars:

UPI Transaction Type UPI Transaction Category UPI limit per day
Peer to Peer or P2P and Peer to Peer Merchant or P2PM Intent link and QR code Rs. 2000
Peer to Merchant or P2M Offline and Non-verified Intent link and QR code Rs. 2000
P2P/P2PM Direct Payment Rs. 1 lakh
P2M All types Rs. 1 lakh
P2M specific categories All types Rs. 2 lakh

The specific groups include various business categories such as insurance, FIR, capital market and preapproved disbursement. Although the Reserve Bank of India is trying to standardize the UPI limit per day, right now most of the banks have not applied the same. This is the same reason why you may come across different UPI limits per day for different banks.

Different transaction limits for individual banks

The UPI limit per day is different for every bank and if you have a bank account you need to be aware of those transaction limits. Here are some UPI transaction limit details for some of the reputed banks:

  • State Bank of India or SBI: Transaction cap up to Rs. 1 lakh per day. You can conduct a total of 10 transactions per day.
  • Kotak Mahindra Bank: Maximum transaction amount per transaction is Rs. 25000 and 2 transactions per day are allowed.
  • IDFC First Bank: The transaction limit is Rs. 25000 per transaction and the per day limit is Rs. 1 lakh.
  • HDFC Bank: Both transaction cap on every transaction and UPI limit per day is at Rs. 1 lakh.
  • ICICI Bank: The account holder of ICICI bank can make 20 transactions in 24 hours and the transaction cap is Rs. 1 lakh.

If you are someone who actively uses UPI for payments and transfers you should be aware of both the UPI limit per day and the maximum number of transactions you can conduct every single day. Although the Unified Payment Interface has enabled us to conduct and operate transactions very smoothly, it also has certain rules and regulations that you need to follow.

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