How to Increase the UPI Transaction limit in SBI?

The Unified Payments Interface (UPI) is the foundation of digital transactions in India. It has gained such popularity that it is considered one of the most popular mediums for online transactions.

UPI is a platform that helps make transactions between different bank accounts into a single mobile app from any participating bank. UPI combines multiple banking functions, smooth fund transfers, and merchant payments on one platform. It also accommodates different financial requests based on individual needs and convenience. Every bank offers its UPI application for Android, Windows, and iOS mobile platforms.

Advantages of setting a transaction limit.

According to the norms of the NPCI,  the banks establish daily limits, which are up to ₹1 lakh, while certain banks may also establish limits for weekly and monthly transactions. Some financial institutions or banks fix UPI transaction limits according to their infrastructure and technical capabilities but cannot exceed Rs. 1,00,000. You can also set your limit to control your financial expenditure. There are a few factors that may force your banks to put a decreased transaction cap:

• Risk management: Every bank has the authority to fix its own UPI transaction limits, which depend on the bank’s risk management strategies.
• Technical complications and infrastructure: Setting transaction limits is beneficial to control technical complications.

Due to the operational constraints and technical capabilities of a bank’s UPI system, transaction limits need to be set. Banks with an advanced IT infrastructure may offer higher transaction limits than those with less technical solid systems.

• Client-based setting: Banks may impose different limits based on your account type. It can be set according to your transaction history. Premium account holders or those with a long-standing relationship with the bank might have higher limits than regular or new customers.
• Control over fraudulent activities: Certain banks may establish reduced restrictions to minimize potential instances of fraud. High transaction limits can be a target for fraudsters, so banks often keep them lower to mitigate potential risks.

UPI Transaction Limit in SBI.

The National Payments Corporation of India (NPCI) has fixed the standard cap for UPI transactions at Rs 1,00,000 per transaction. If you send money to another individual, the maximum limit is Rs 1 lakh per transaction. So, the SBI  has also fixed Rs. 1,00,000 as the UPI per transaction limit for its customers. Whichever UPI payment application you are using doesn’t matter. However, as an SBI customer, you cannot spend beyond this limit. In some exceptional cases, the transaction limit can be increased. For example, you can send up to Rs 2 lakh through UPI in capital markets or insurance. The limit is up to Rs 5 lakh per transaction for educational purposes. The State Bank of India has applied this new rule to UPI transactions since mid-2023. The bank has also restricted its customers from making more than ten daily transactions.

It is essential to know that the bank can change these limits according to the customer’s requirements and requests. If you want to set this limit at Rs. 50,000, you can do it. But you cannot exceed the limit of Rs 1,00,000.

How to increase the UPI transaction limit in SSBI?

There are two methods of requesting increasing the UPI transaction limit in SBI. One is online, and the other is offline.  

1. Using the SBI Yono App

• Open the Yono Lite app on your smartphone, which must have an internet connection, and log in using your user ID and password.
• After logging in, open the “UPI Transfer” or “UPI Payments” option, whichever is available on your phone on the YONO Lite’s main screen. Click on this option to access your UPI settings.
• When you reach the “UPI Transfer” section, there you will see “More Options” or “Additional Settings.”
• Under the option of “Additional Settings”,  an option of “Set UPI Transaction Limit” or “Manage UPI Limit”  is shown.  Select this option to set your transaction limit.
• When you open the “Manage UPI Limit” option, It will ask for your “Profile Password.”  Now, you are required to enter your profile password. You should do it very carefully, as it authorizes you to change your profile.
• You’ll see three boxes when you enter your profile password in the given space.
• The first box is specially meant to fill out the current UPI transaction limit; you should fill it out with the same.
• The second box must be used to fill out your new UPI transaction limit. In this box, you should fill out your new limit, which should not exceed the Rs. 1,00,000 limit.
• You should re-enter your new UPI transaction limit in the third box for confirmation purposes.
• When you fill out all three boxes, click the “Submit” button to proceed.
• Now, a new screen will be opened that will display your “Existing UPI Transaction Limit” and the “New UPI Transaction Limit.”
• You should compare both the limits carefully and ensure they fulfill your requirements.
• Click “Confirm” to finalize the change.
• SBI YONO will send an OTP to your registered mobile number to verify your request. You should enter that OTP in the space provided and then click “Submit.”
• As soon as you submit your password, a message will be sent to your registered mobile number regarding confirmation of your new UPI transaction limit.
• Within 24 hours, the new increased UPI transaction limit will be visible on the app.

1. Visit the nearest SBI Branch:

• You must visit your nearest SBI branch to increase the offline transaction limit. You should carry all the necessary documents, such as an Aadhaar card, PAN card, or your driving license (as photo ID proof), your passbook, and a debit card if you have one.
• After reaching the branch, you should inform the customer service representative and tell him about your issue and that you want to increase your UPI transaction limit. They will assist you in reaching the appropriate counter or bank representative who handles such matters.
• The bank representative will give you a request form to increase the limit. You should fill out the form to request an increase in your UPI transaction limit.
• Before submitting this form, you should be sure you have provided all the accurate and complete information. The information that is required is about the details of your account number, current limit, desired new limit, and reason for the change.
• When you complete the form, you should submit it to the bank representative. All the necessary documents should be attached to this form.
• Then, the bank officials will verify all the inform you provided, and our request will be processed.
• In some branches, the procedure is a bit different. The bank might ask you to sign additional documents for further verification.
• You are required to complete all the necessary formalities. Then, the bank representative will inform you about the expected time for processing your request.
• The bank takes some time to complete the process. It can be from a few hours to a few working days.
• As soon as the process of increasing the transaction limit is completed and the bank approves it, you’ll receive a confirmation message from the bank, and since then, your new UPI transaction limit will be active.

Conclusion.

For the customers of the State Bank of India, it is impossible to make unlimited transactions while using UPI applications, as it is neither in the customer’s favor nor in the bank’s favor. The SBI UPI limit is beneficial in managing your finances more sensibly and avoiding reckless expenses daily. SBI account holders must follow this transaction limit to pay for all UPI apps. Customers need to stay updated on the rules and regulations SBI sets regarding the SBI UPI limit.

FAQs.