What is UPI
Unified Payments Interface is an instant real-time payment system developed by National Payments Corporation of India facilitating inter-bank peer-to-peer and person-to-merchant transactions. Ujjivan SFB is live as issuer in UPI payment system. Ujjivan SFB’s Savings/ Current Account holders can link their account in any UPI app and create VPA to send or receive payment directly to his/her Ujjivan SFB’s account.
How is it unique?
- Availability: Immediate money transfer through mobile device round the clock 24*7 and 365 days.
- Ease of Access: Single mobile application for accessing different bank accounts.
- Secure transactions: All UPI transactions are authorized using a unique UPI PIN that you set for the account
- Simple to use: No addition of beneficiary required.
- UPI application is used to transfer funds to any bank account or merchant through any of the payment’s modes given below
- VPA (Virtual Payment Address)
- Providing the Bank Account Number along with IFSC Code
- No cost fund transfer: Transfer funds instantly without any charges.
- Merchant Payment with Single Application or In-App Payments: Utility Bill Payments, Over the Counter Payments, QR Code (Scan and Pay) based payments.
Ujjivan Bank UPI Transaction Limits
The various UPI limits of Ujjivan Bank is given in the below table
|Maximum amount per transaction
|Minimum amount per transaction
|Maximum transaction amount per day
|Maximum number of transactions per day, per account
|Maximum amount per transaction post resetting the PIN or for a first-time user
- Daily limit of Rs 1 Lakh or 10 Transactions (calculated on 24 Hours basis)
- The limit of 10 transactions is only applicable for fund transfer and doesn't include Bill pay transactions and merchant transaction.
- New UPI users or users who have changed their device / sim card / mobile number can transact only up to Rs 5,000/- for the first 24 hours.