Gold Loan: There is good news for those who take gold loans. Now they will not have to visit banks to take gold loans and withdraw money from fixed deposits (FD). Now they can also take gold loans digitally through UPI and can also withdraw money from FD. National Payments Corporation of India (NPCI) has made a big change regarding payment through UPI. Now users will be able to send or withdraw the amount of gold loan, personal loan, business loan and fixed deposit (FD) directly from UPI. This facility will be available to all from September 1, 2025.
Loan accounts can also be linked to UPI
Under the new rules, not only savings and overdraft accounts, but loan accounts can also be linked to UPI. With this, users will be able to pay everything from credit card bills to loans through apps like Paytm, PhonePe and Google Pay.
The aim of NPCI is to make the payment system more simple and secure. At present, UPI has the facility of P2M (Person to Merchant) transactions, but after the new rule, both P2P (Person to Person) and P2PM (Person to Person Merchant) will be possible. Along with this, now customers will also be able to withdraw cash.
Limits and conditions also apply
With the new changes, some limits have also been set. This includes a maximum transaction of up to Rs 1 lakh in a day, a daily limit of cash withdrawal of up to Rs 10,000 and a daily limit for P2P transactions. Banks will have the right to decide where the loan money can be used. These include hospital bills, school fees, etc.
Small traders will get big benefit
This facility provided by NPCI in UPI will be especially beneficial for small businessmen. Now they will not have to go to the bank again and again for a loan of up to Rs 2-3 lakh. They will be able to make payments directly from their UPI app, which will save both time and effort.