The transaction limits for AEPS (Aadhaar Enabled Payment System) vary depending on the specific policies and guidelines set by each bank. However, typically, the transaction limits for AEPS transactions are as follows:
- Cash Withdrawal: The maximum amount that can be withdrawn in a single transaction varies from bank to bank but is usually limited to a range of Rs. 10,000 to Rs. 25,000 per day.
- Balance Inquiry: Customers can usually check their account balance multiple times a day without any specific limit.
- Fund Transfer: The maximum amount that can be transferred through AEPS varies and is typically subject to daily and monthly limits set by the bank. These limits may range from Rs. 5,000 to Rs. 25,000 per day, depending on the bank’s policies.
It’s important to note that these transaction limits are subject to change and may differ based on the bank’s discretion and regulatory requirements. Customers are advised to check with their respective banks for the most up-to-date information on AEPS transaction limits.
Contents
AePS Bank Transaction Limit
SRN | Name of Bank | No of txt /day | Amount oftxt/day | No of txt/month | No ofamount/month |
1 | Uttarbanga Kshetriya Gramin Bank | 2 | 20000 | 5 | 50000 |
2 | Pragathi Krishna Gramin Bank | 5 | 10000 | 15 | 100000 |
3 | Kerala Gramin bank | 5 | 5000 | NA | NA |
4 | City Union Bank | 5 | 2500 | 100 | 50000 |
5 | United Bank of India | 1 | No limit | No limi | No limi |
6 | State Bank of India | 1 | 10000 | 4 | 40000 |
7 | Corporation bank | 5 | No limit | No limit | No limit |
8 | Uttarakhand Gramin Bank | 3 | 10000 | 90 | 3000000 |
9 | Central bank of India | 2 | 10000 | 10 | 100000 |
10 | Baroda Gujrat Gramin Bank | 5 | 10000 | 5 | 50000 |
11 | Bank of Baroda | 4 | 10000 | 4 | 40000 |
12 | Baroda UP gramin bank | 5 | 10000 | 5 | 50000 |
13 | Baroda Rajasthan KGB | 5 | 50000 | 5 | 50000 |
14 | Andhra Pradesh Grameena Vikas Bank | 2 | 20000 | 60 | 600000 |
15 | ICICI Bank | 5 | 50000 | 150 | 7500000 |
What are the transaction limits for AEPS transactions with Indian Overseas Bank?
Transaction limits vary depending on the type of transaction and guidelines issued by the RBI/NPCI. Limits as of now are provided in the below table:
Mode Of Transaction | Type Of Transaction | Count | Min Amt Per Transaction | Per Transaction Amount | Per Day Amount | Monthly Count | Monthly Amount |
AEPS Onus(Our Customer Our BC) | Cash Deposit | 3 | 50 | 25,000 | 25,000 | NA | NA |
Cash Withdraw | 5 | 50 | 10,000 | 10,000 | NA | 50,000 | |
Fund Transfer | 3 | 50 | 25,000 | 25,000 | NA | NA | |
AEPS Offus(Our Customer Other Bank BC) | Cash Deposit | NA | NA | NA | NA | NA | NA |
Cash Withdraw + Aadhaar Pay | 5 | 50 | 10,000 | 10,000 | 50 | 50,000 | |
Fund Transfer | 5 | 50 | 10,000 | 25,000 | 100 | 1,00,000 | |
Account Transfer | Cash Deposit | 2 | 50 | 25,000 | 25,000 | NA | NA |
How Does AEPS Transaction Work?
AEPS inclusion for the financial sector is completely a specific change for people residing in remote areas. For making India with banking facilities is now an easy procedure. Here, the only requirement is for your Aadhaar number which is issued by the government of India. The Aadhaar-enabled payment system capture fingerprints or iris scan for unique biometric authentication. With that, you can easily transact money with the participation of banks and financial institutions.
Banking agents have a Micro-ATM network for transferring money. With this option, you can transact money, withdraw cash, cash deposit, check balance, and can take your statement also. All your banking statements and verification link are with your banking accounts to provide better services.
Advantage of AEPS Transaction?
Government initiation to create financial inclusion for people, who are not associated with the traditional banking system. Connecting with Aadhaar-enabled services lead to generating secure authentic method of payment for rural India. It can make India access banking services in digital mode. It has numerous benefits with accessibility and convenience to remote living people. This beneficial step takes part to develop Indian livelihood to an extent. It has all the features like traditional banking procedures like cash transfer, and cash deposit to access mini statements of your account. AEPS services provide complete security for their user’s accounts.
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