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UPI Transactions: The popularity of Unified Payment Interface (UPI) for digital payments is increasing. Sending and receiving money through UPI has made our lives much easier. People make payments through UPI to everyone from grocery stores to vegetable sellers. If you want to save on UPI transactions then this news is useful for you. Happy Savings Account of private bank DCB Bank can prove helpful in getting cashback on UPI transactions. You can get cashback up to Rs 7,500 annually on this savings account.
According to the bank, cashback of up to Rs 7,500 is given in a financial year on debit transactions through UPI from Happy Savings Account. For this, a minimum UPI transaction of Rs 500 will have to be done.
Maximum cashback of Rs 7,500 per year
Cashback will be given on the basis of transactions done in the quarter and will be credited to the account after the end of the quarter. Happy Savings account holders will get a maximum cashback of Rs 625 in a month and a maximum of Rs 7,500 in a year.
To get cashback AQB should be Rs 25 thousand
The minimum Average Quarterly Balance (AQB) required for DCB Happy Savings Account is Rs 10,000. To get cashback on UPI transaction, you will have to maintain a minimum balance of Rs 25,000 in the account. With this account you will get unlimited free RTGS, NEFT and IMPS facility. Apart from this, you can do unlimited transactions for free from any ATM of DCB Bank.
What is UPI?
Let us tell you that UPI is a real time payment system. For digital payments, facilities like UPI allow you to easily transfer money while sitting at home. For this you need UPI supporting apps like Paytm, PhonePe, BHIM, GooglePay etc. The special thing is that UPI allows you to transfer money even if you have only one information like scanner, mobile number, UPI ID.