Do you want to know about the limits of the Phonepe Payments app? You’re in luck! This guide breaks down those limits into simple pieces.
Let’s explore PhonePe’s daily transaction limits, understanding what you can and can’t do. Get ready to dive in.
Types of Limits on Phonepe
There can be various types of limits on Phonepe. You must be aware of all these. Else, you may stuck in an urgent situation.
- The maximum amount of single transaction
- The maximum amount of Transactions in a day.
- Number of payments you can make in a day.
- Number of Payments you can receive in a day.
Note, the limits for merchant transactions are different from payments to your friend and relative.
Also, banks can also impose their own limits on UPI Transactions.
Actual Meaning of Daily Limit
At times, even if you haven’t exceeded the set limit within a single day, you might come across a specific message: “You can’t make this payment at the moment.”
This message appears due to a breach in the limit, which occurs because of the unique interpretation of a “Day.”
In the realm of UPI transactions, a “Day” encompasses the previous 24 hours. When you’re on the brink of initiating a payment, the system reviews all the transactions executed in the preceding 24 hours.
If the collective sum of these transactions surpasses the predefined limit, you’ll encounter an inability to proceed with the payment. Importantly, this limit is enforced regardless of calendar dates.
Limit on a Bank Account or Limit on the UPI App?
You may be wondering about the Payment limit of Phonepe. It is true that Phonepe has set limits on UPI Transactions. But please note the limits are applicable to a single bank account.
It means, if you have many bank accounts, you would have a higher aggregate limit. Phonepe does not bother if you use multiple bank accounts to send a big amount.
What is the Per Day Limit of UPI Transactions through the Phonepe?
The UPI payment is a very convenient way of making online payments. But, you have to also mind the daily limit of such transactions.
In Phonepe, you can make a maximum payment of ₹1 lakh in a day. In the case of UPI Limit, a day is considered as the preceding 24 hours.
Phonepe Per Transaction Limit
PhonePe adheres to the limits established by the NPCI, which is the National Payments Corporation of India. This authority manages the UPI Payment system under the Reserve Bank of India. The NPCI has outlined specific per-transaction limits based on the type of transaction involved.
Limit for Payment to Family and Friends
For every transaction you undertake on PhonePe, there’s a maximum cap of ₹1 lakh per transaction. This limit is applicable to Person-to-Person (P2P) payments, meaning that you can’t transfer more than ₹1 lakh to your family and friends using UPI. It’s worth noting that alternative payment methods like IMPS, NEFT, and RTGS don’t carry such constraints.
The limit imposed on UPI transactions serves as a protective measure. It ensures that your financial moves stay within secure boundaries, mitigating any unforeseen surprises.
Limit For Payment to Merchants
NPCI has extended this relaxed UPI per-transaction limit for merchants as well. This adjustment proves especially helpful when you’re looking to purchase higher-value goods. Presently, you can make transactions of up to ₹2 lakhs using PhonePe or any other UPI app. It’s important to note that this higher limit applies only to verified merchants, as banks typically validate these accounts as merchant accounts.
Limit for IPO and RBI Bonds
You might already know that UPI payments aren’t just limited to regular transactions; they can also be used for IPO subscriptions. In this scenario, you have the flexibility to make payments of up to ₹5 lakhs per transaction. Initially, the limit stood at ₹2 lakhs, but a recent update from NPCI has elevated the IPO payment limit to ₹5 lakhs.
For IPO subscriptions, the specified amount is temporarily blocked in your account until the allotment of shares. If you secure the shares, the corresponding amount is deducted from your account. However, if you don’t get the shares, the money remains untouched in your account.
Similar to IPOs, the investment limit for the RBI Retail Direct Scheme also stands at ₹5 lakhs per transaction.
Limit for Insurance Premium, Credit card Bills and Loan Repayment
The NPCI has taken steps to ease the per-transaction limits for specific payment categories. You now have the liberty to execute UPI payments of up to ₹2 lakhs for tasks like settling Insurance Premiums, Credit Card Bills, and Loan Repayments. This expansion feels like a little extra room for managing life’s essential financial responsibilities.
Limits Set By Banks for UPI Transactions
The NPCI oversees the UPI Payment System and establishes both daily and per-transaction limits to ensure security. Simultaneously, banks endeavour to establish their own limits based on their risk evaluations. Some banks may choose to set lower daily and per-transaction limits. As banks are the final intermediaries in UPI transactions, their limits take precedence over those set by the NPCI or PhonePe.
The variations in banks’ limits have caused considerable inconvenience for users. In response, the NPCI has issued a directive to all participating banks, urging them to conform to the limits stipulated by the NPCI. This alignment aims to provide customers with a seamless UPI experience, free from complications arising from differing limits.
However, it’s important to note that some banks still retain their distinct daily and per-transaction limits. What’s more, certain banks even introduce weekly and monthly limits to regulate UPI transactions. Here is the list of Banks and their limits.
Banks and Their UPI Limits
Some of the government banks have been merged with their bigger peers. So you would not find the name of those banks in the following table.
This is the updated list for 2023. I have also verified the latest Limits of many small and cooperative banks through their website. However, Some banks do not have such information on their website so I took the data from the Google Pay Page.
Use Ctrl + F to find out your own bank.
|Name of Bank||Per Transaction Limit of PhonePe (INR)||PhonePe Transaction limit Per day (INR)||Phone Pe Transaction Limit Per Week (INR)||Phone Pe Transaction Limit Per Month (INR)|
|A P Mahesh||25,000||100,000||NA||NA|
|Aditya Birla Bank||1,00,000||1,00,000||NA||NA|
|Andhra Pradesh Grameen Vikas||25000||25000||NA||NA|
|Apna Sahakari||100000||100000||No limit||No limit|
|Bank of Baroda||1,00,000||1,00,000||NA||NA|
|Bank of Maharashtra||1,00,000||1,00,000||NA||NA|
|Baroda Gujarat Gramin||25,000||NA||NA||NA|
|Baroda Uttar Pradesh Gramin||25,000||100,000||NA||NA|
|Catholic Syrian Bank||1,00,000||1,00,000||NA||NA|
|Central Bank of India||25000||50000||NA||NA|
|Chaitanya Godavari Gramin Bank||25,000||100,000||NA||NA|
|Chhattisgarh Rajya Gramin Bank||25000||25000||NA||NA|
|City Union Bank||1,00,000||1,00,000||NA||NA|
|Deutsche Bank AG||1,00,000||NA||NA||NA|
|Dombivli Nagri Sahakari Bank||100,000||100,000||NA||NA|
|Equitas Small Finance Bank Payments Bank||1,00,000||1,00,000||NA||NA|
|Name of Bank: Federal bank||1,00,000||1,00,000||NA||NA|
|G P Parsik Bank||50000||100000||700000||3000000|
|Gujarat State Bank||1,00,000||1,00,000||NA||NA|
|IDFC First Bank||1,00,000||100,000||700,000||3,000,000|
|Janta Sahakari Bank||100000||NA||NA||NA|
|Karur Vysya Bank||1,00,000||1,00,000||NA||NA|
|Kerala Grameen Bank||50000||50000||NA||NA|
|Kotak Mahindra bank||1,00,000||1,00,000||NA||NA|
|Maharashtra Grameen Bank||25000||25000||NA||NA|
|Malwa Gramin Bank||25000||25000||NA||NA|
|Meghalaya Rural Bank||25000||25000||NA||NA|
|Mehsana Urban Co-operative Bank||1,00,000||1,00,000||NA||NA|
|Mizoram Rural bank||25000||25000||NA||NA|
|NKGSB Co-Op Bank Ltd||20,000||40,000||NA||NA|
|Punjab and Maharashtra Co-Op Bank Ltd||1,00,000||1,00,000||NA||NA|
|Paytm Payments Bank||100000||NA||NA||NA|
|Pragathi Krishna Grameen Bank||*10-20000||20000||NA||NA|
|Rajkot Nagrik Bank||100000||100000||No limit||No limit|
|Samruddhi Co-Op Bank||50,000||50000||350000||150000|
|Saraswat Co-op Bank||1,00,000||50,000||NA||NA|
|Saurashtra Gramin Bank||25000||25000||NA||NA|
|SBI / State Bank of India||100,000||100,000||NA||NA|
|South Indian Bank||1,00,000||1,00,000||NA||NA|
|Standard Charter Bank||100000||NA||NA||NA|
|Standard Chartered Bank||100000||100000||NA||NA|
|SUCO SOUHARDA SAHAKARI BANK||10000||8,00,000||NA||NA|
|Surat People Cooperative Bank||100,000||100,000||NA||NA|
|TELANGANA GRAMEENA BANK||25000||25000||NA||NA|
|Thane Bharat Sahakari Bank||50000||100000||No limit||No limit|
|Thane Janta sahakari Bank||100000||100000||No limit||No limit|
|The Jammu and Kashmir Bank Ltd||25,000||25,000||NA||250,000|
|The Kalyan janta sahakari Bank||100000||100000||No limit||No limit|
|The Sutex Co–Op Bank||200000||200000||NA||NA|
|Ujjivan Small Finance Bank||50,000||100,000||NA||NA|
|Union Bank of India||1,00,000||100,000||5,00,000||20,00,000|
|Uttarakhand Gramin Bank||25000||25000||NA||NA|
|Vishveshwar Co opp Bank||1,00,000||1,00,000||NA||NA|
Limit on Number of Transactions
In the past, there was no limit on transactions. But people started misusing it for cashback, and too many small transactions burdened banks’ servers. So, the NPCI set transaction limits per day. These limits apply to both sending and receiving money.
Maximum Transactions for Sending Money
You can’t send more than 20 UPI payments in 24 hours. Remember, this is only for sending money to friends and family. There’s no limit for paying businesses.
Limits on Receiving UPI Payments
Surprisingly, there’s a cap on how many UPI payments you can receive – 200 payments in 24 hours. However, businesses don’t have this limit. They can get as many payments as they need in a day. This doesn’t interrupt their operations.
These limits make sure UPI is used wisely and doesn’t overload the system. They help keep things fair and efficient for everyone.
Maximum Transactions through the UPI Autopay
If you love automatic payments, you’ll love this upgrade. The UPI Autopay limit used to be ₹5,000, but now it’s ₹15,000. If you need to pay more, you’ll need to confirm it. It’s like PhonePe gives you more control over your regular payments.
UPI Autopay is a convenient payment feature that simplifies your financial transactions. It lets you set up automatic payments for regular expenses like utility bills, subscription services, and loan EMIs.
Once set up, UPI Autopay will deduct the specified amount from your bank account on the scheduled dates. This helps you avoid late fees or missed payments.
Whether you’re investing, paying bills, or shopping, PhonePe’s limits are here to help you. So, dive into the digital financial world knowing that you’re in control. Enjoy your financial adventures! 🌟