UPI Lite Transaction Limit

Know UPI Lite transaction limits and benefits for hassle-free daily payments
UPI Lite Transaction Limit
SET UP UPI
4 mins
02 September 2024

Understanding UPI Lite transaction limits

UPI Lite is an extension of the Unified Payments Interface (UPI) that aims to enhance user convenience by enabling quick, low-value transactions without needing a bank account balance check every time. UPI Lite is designed for small transactions, making it ideal for micropayments such as buying snacks, paying for public transport, or small grocery purchases. Users can add funds up to Rs. 2,000 to their UPI Lite wallet at a time, allowing seamless transactions without frequent top-ups. The maximum balance that can be held in a UPI Lite account is Rs. 2,000, providing enough flexibility for daily expenses. Unlike regular UPI transactions, UPI Lite transactions are processed offline, ensuring swift payments even when the internet connection is slow. This feature reduces the load on banking infrastructure, enabling faster and more reliable payment experiences.

UPI Lite limit per day

UPI Lite offers a convenient way to manage daily transactions with specific limits to ensure security and efficiency. The daily transaction limit for UPI Lite is set at Rs. 4,000, allowing users to perform multiple small-value transactions without exceeding the cap. This limit ensures that users can comfortably manage routine expenses, such as dining out, shopping, and transportation, using UPI Lite without carrying cash. It is essential to note that UPI Lite transactions are restricted to a maximum of Rs. 200 per transaction, making it suitable for micropayments. Users can add up to Rs. 2,000 to their UPI Lite wallet twice daily, providing flexibility in managing funds. This daily limit is designed to accommodate frequent low-value transactions, ensuring a hassle-free payment experience. UPI Lite is a powerful tool for those seeking quick and secure payments without the need to repeatedly check their bank balance.

Advantages of UPI Lite

  • Quick Transactions: UPI Lite enables rapid payments without relying on internet connectivity.
  • Low Transaction Value: Ideal for small purchases like groceries and daily essentials.
  • Reduced Load: Offloads the banking system, providing smoother transactions.
  • User-Friendly: Easy to set up and use, making it accessible for all demographics.
How to set up UPI Lite
Setting up UPI Lite is simple and user-friendly, allowing individuals to start making transactions swiftly. Users must download a UPI-enabled app supporting UPI Lite and navigate to the setup section. After verifying their phone number, users can link their bank account to the app, similar to regular UPI ID setup. UPI Lite will then require loading funds, which can be done through a standard UPI transaction. Users can add up to Rs. 2,000 to their UPI Lite balance, ready for small transactions. Once the setup is complete, users can enjoy quick, seamless payments without needing internet access or bank account verification for each transaction. UPI Lite is especially advantageous for those who frequently make small payments and require an efficient, hassle-free payment method. With its easy setup process and daily transaction limit, UPI Lite has become a preferred choice for many. For more details, check out Bajaj Finserv’s comprehensive guide on UPI Lite.

Conclusion

In conclusion, UPI Lite offers a practical and efficient solution for handling small-value transactions, providing a seamless payment experience with specific daily limits. With a transaction limit of Rs. 200 per transaction and a daily cap of Rs. 4,000, UPI Lite caters to everyday financial needs while ensuring security and ease of use. It eliminates the need for constant bank balance checks, allowing users to perform micropayments quickly and efficiently. UPI Lite is beneficial for those looking to streamline their daily expenses without carrying cash. Its offline processing capability makes it a reliable choice, even in areas with poor internet connectivity. UPI Lite is a game-changer in the digital payment landscape, bridging the gap between cashless transactions and user convenience.

Disclaimer

1. Bajaj Finance Limited (“BFL”) is a Non-Banking Finance Company (NBFC) and Prepaid Payment Instrument Issuer offering financial services viz., loans, deposits, Bajaj Pay Wallet, Bajaj Pay UPI, bill payments and third-party wealth management products. The details mentioned in the respective product/ service document shall prevail in case of any inconsistency with respect to the information referring to BFL products and services on this page.

2. All other information, such as, the images, facts, statistics etc. (“information”) that are in addition to the details mentioned in the BFL’s product/ service document and which are being displayed on this page only depicts the summary of the information sourced from the public domain. The said information is neither owned by BFL nor it is to the exclusive knowledge of BFL. There may be inadvertent inaccuracies or typographical errors or delays in updating the said information. Hence, users are advised to independently exercise diligence by verifying complete information, including by consulting experts, if any. Users shall be the sole owner of the decision taken, if any, about suitability of the same.

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Frequently asked questions

Does UPI Lite charge for transactions?
UPI Lite does not charge users for transactions. It is designed for low-value transactions (up to Rs. 500) without requiring a PIN, making it a cost-effective option for everyday payments.

What is the limit of UPI Lite in 2024?
As of 2024, the transaction limit for UPI Lite is set atRs. 2,000per transaction, with a maximum daily limit ofRs. 4,000. Users can maintain a balance of up to Rs. 2,000 in their UPI Lite account.

Is UPI lite offline?
Yes, UPI Lite allows for offline transactions. Users can make payments up to Rs. 500 without an internet connection, although adding funds to the UPI Lite account requires a stable internet connection.

Is the UPI lite limit increase?
Currently, the UPI Lite limit remains at Rs. 2,000 per transaction, with a daily limit of Rs. 4,000. There are no announcements regarding an increase in these limits as of now.

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