New Delhi: The Reserve Bank Of India on 8 August 2024, the UPI limit for tax payment matters has been increased from Rs 1 lakh to Rs 5 lakh per transaction.
However, the normal UPI transaction limit remains the same. Since the National Payments Corporation of India (NPCI) introduced the Unified Payments Interface (UPI) in 2016, the number of transactions using it has increased. For UPI, the NPCI has set a maximum daily transaction restriction at Rs 1 lakh. Most Indian banks have fixed their daily UPI transaction limits at Rs 1 lakh in compliance with the NPCI’s rules.
UPI Transaction Limit
The daily limit for regular UPI transactions in India is up to Rs. 1 lakh. There shall be a 24-hour waiting period for any attempt to surpass these limitations. Overall UPI apps and bank accounts, there is also a cumulative limit of ten transactions.
The transaction maximum is 2 lakh for some types of UPI transactions, such as capital markets, collections, insurance, and foreign inward remittances. The maximum amount per transaction for Initial Public Offering and Retail Direct Scheme is Rs 5 lakh.
Check out below the UPI transaction limit and per day limit of various public and private sector banks in India:
UPI Limits Set by Public Sector Banks
State Bank of India
SBI has set a daily UPI transaction limit of Rs. 1,00,000. The bank also limits customers to 10 transactions per day.
Central Bank of India
Central Bank of India has set a daily UPI transaction limit of Rs. 1,00,000.
Union Bank of India
The maximum per transaction amount that can be transferred through UPI is Rs 1 lakh.
Union Bank of India
The maximum transaction limit per transaction is Rs 1,00,000.
Indian Bank
Users can send a total of Rs 100,000 per day, with each transaction capped at Rs 100,000.
UCO Bank
With each transaction capped at Rs 100,000, users can send a total of Rs 100,000 per day.
Bank of Maharashtra
For the P2P type, the maximum limit is capped at Rs 1,00,000.
Canara Bank
For the P2P type, the maximum limit is capped at Rs 1,00,000 within 24 hours and up to 20 transactions.
Bank of Baroda
Users can send a total of Rs 1,00,000 per day. Users are restricted to a maximum of 20 transactions per day.
Punjab National Bank
The upper limit per UPI transaction is Rs 1 Lakh.
Punjab & Sind Bank
The maximum amount that can be transferred through UPI is Rs 1,00,000 per day per user.
UPI Limits Set by Private Sector Banks
Axis Bank
The overall transaction limit for debit fund transfers/P2P through UPI within 24 hours is Rs 1,00,000.
HDFC Bank
The bank has set a maximum limit of Rs 1 lakh for P2P UPI transactions, or 20 transactions per bank account in 24 hours.
IndusInd Bank
The UPI limit per day for general transactions stands at Rs 1,00,000.
ICICI Bank
The upper limit mandated by NPCI is Rs 1 lakh per transaction and Rs 1 lakh cumulative transaction value.
Bandhan Bank
Users can transfer a maximum of Rs 1 lakh per day using UPI.
IDFC First Bank
For P2P transactions, the per transaction limit is Rs 1,00,000.
IDBI Bank
The per-transaction cap of IDBI Bank is Rs 100,000.
Karur Vysya Bank
Karur Vysya Bank has set the per-transaction cap to Rs 100,000.
City Union Bank
Users can send up to Rs 100,000 per transaction and a maximum of Rs 100,000 per day.