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Credit Line on UPI

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Credit Line on UPI

Product Overview

“Pre-sanctioned Credit Lines on UPI” is an innovative financial offering developed in alignment with the Reserve Bank of India's vision to transform customer’s access to credit. This product empowers individuals and small businesses to obtain pre-sanctioned credit lines from banks, which can be utilized immediately for transactions through UPI. It facilitates availability and frictionless usage of credit lines, overdrafts and retail loans, fostering economic growth and enhancing financial inclusion.

Product Features:

Discover the power of "Credit Line on UPI" with these key features:

  • Seamless Linking: Discover Credit Line and link it to UPI basis your registered mobile number.
  • Secure Authentication: Authenticate transactions with a dedicated UPI PIN for Credit Line on UPI, enhancing security and preventing unauthorized access.
  • Transaction Variety: Make payments exclusively to merchants using QR codes or e-commerce platforms using the Credit Line on UPI.
  • Credit Line Details: Gain comprehensive insights into Credit Line status, utilized credit limit, and existing EMI details directly within the UPI app.
  • Dispute Resolution: Resolve disputes conveniently through the ODR (UPI Help) available on UPI apps, ensuring a transparent and user-friendly experience.
  • Repayment Methods: Understand and utilize repayment methods effectively, including inward payments to the specific UPI ID for Credit Line repayments and e-mandates (AutoPay), where applicable.
Banks live:
Apps live:
Do's and Don'ts:
Do's:
  • PIN Security: Set a distinct UPI PIN for your "Credit Line on UPI" transactions to enhance security.
  • Merchant Payments: Make payments only to merchants via QR Codes or e-commerce merchants using the Credit line on UPI.
  • Autopay Setup: Optimize your payment process by setting up UPI Autopay for timely Credit Line bill payments.
  • Mobile Number Update: Keep your mobile number updated with the issuing bank for seamless Credit Line linking on UPI.
  • Balance Check: Regularly check your available balance and outstanding amount on the UPI app before initiating merchant payments.
Don'ts:
  • PIN Sharing: Avoid sharing your UPI PIN with anyone to prevent unauthorized access to your Credit Line.
  • Uniform PINs: Refrain from using the same UPI PIN for both your "Credit Line on UPI" and Savings Bank account for added security.
  • OTP Sharing: Never share the OTP received during the registration process to maintain the confidentiality of your account.
  • Neglect Credit Line Guidelines: Do not ignore the Credit Line permitted usage guidelines, ensuring compliance with the terms defined by the issuing bank for a smooth financial experience.
  • Credit Limit Breach: Adhere to the credit limit assigned by your issuing bank to avoid overextending your Credit Line on UPI.
  • Restricted Payments: Avoid making payments in restricted categories, as specified by the issuing bank/RBI, using "Credit Line on UPI."
  • Delayed Credit Line Repayment: Adhere to the repayment schedule and terms to prevent any adverse impacts on your credit score and ensure a smooth credit relationship.