UPI transaction limit increased: Check latest UPI, UPI Lite limits for different types of payments
If you use UPI daily, you should know the latest transaction limits of different UPI payments and transactions. ET Wealth Online explains the daily payment limits of UPI, UPI Lite, and UPI123Pay.
UPI payment limit per transaction: Latest update
The standard UPI transaction limit for peer-to-peer payments is Rs 1 lakh, but this can vary significantly. Individual banks have the discretion to set their own limits, which can range from as low as Rs 5,000 to as high as Rs 1 lakh or more. Additionally, different UPI apps may have their transaction limits, further influencing the maximum amount you can transact. Banks can also impose individual daily limits on customers based on various factors.
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For specific transaction types such as capital market transactions, collections, insurance, and foreign inward remittances, the limit is generally higher at Rs 2 lakh per day.
Individuals can now make UPI payments of up to Rs 5 lakh per transaction for the following categories: a) tax payments, b) hospital and educational institutions, and c) IPOs and RBI retail direct schemes.
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