1 week ago

Digital Savings Transfer Limits for UPI, IMPS, NEFT and RTGS

Different digital payment methods have different rules for moving money from a Savings Account.

UPI is usually used for everyday payments and commonly allows up to ₹1 lakh per transaction.

Some special UPI categories can have higher limits, such as ₹5 lakh.

IMPS can transfer up to ₹5 lakh per transaction under the standard framework and works 24x7.

NEFT has no maximum limit set by RBI, but a bank may create its own limit.

RTGS is meant for large transfers and generally requires at least ₹2 lakh.

Banks can set lower limits than the payment systems allow.

Checking your bank’s limits and the recipient’s details can help prevent a failed transfer.

Key facts

UPI standard limit: Up to ₹1 lakh per transaction for many standard transactions; certain specified categories may allow up to ₹5 lakh.
IMPS limit: Up to ₹5 lakh per transaction under the standard framework, excluding applicable SMS and IVR channel limits.
NEFT maximum: RBI imposes no maximum amount limit, although individual banks may set transaction limits.
RTGS range: Transfers generally require a minimum of ₹2 lakh; RBI prescribes no maximum ceiling.
Daily transfer limit: There is no single limit for every Savings Account; the bank, method, transaction and security controls determine the amount.
UPI use: Commonly suited to everyday payments, bills, purchases and transfers to family or friends.
IMPS availability: Operates 24x7 and is intended for immediate bank-to-bank transfers.

freepressjournal.in · 1 week ago