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Foreign Exchange
Individual Outward Remittances

Overview

International payments – Telegraphic Transfer

Secure all your bookings abroad - Pay in advance for your travel arrangements such as hotel reservations, conferences or car hire with our TT product.

Non- Trade –Remittance
You can send money abroad in a secure and convenient way. IndusInd Bank Offers Outward Remittance facilities enabling you to remit money abroad through reliable and quick transactions.

Indusind Bank offers you instant Telegraphic Transfer facilities through our correspondent banks abroad for you to send money to your loved ones as gift / maintenance or for any of your following requirements:

  • Medical
  • Education
  • Employment
  • Immigration
  • Maintenance of Close Relative
  • Remittance for Tour Arrangement on request of the traveller
  • Conference/ Conference Fee/ Specialised Training
  • Visa Fee
  • Examination Fee
  • Participation in international Events
  • Consultancy fee
  • Registration/ subscription / membership fee of international organisation
  • Skill assessment fee for indenting migrants

The service is available for following currencies:

Code Currency
AED Arab Emirates Dirham
AUD Australia Dollar
CAD Canada Dollar
CHF Swiss Franc
DKK Danish Kroner
EUR Euro
GBP Great Britain pound
HKD Hong Kong Dollar
JPY/100 Japanese Yen
NOK Norwegian Kroner
NZD New Zealand Dollar
SAR Saudi Riyal
SEK Swedish Kroner
SGD Singapore Dollar
USD US Dollar
ZAR South African Rand

Eligibility

Particulars Liberalized Remittance Scheme* (LRS) Normal Remittance Scheme**

 

Eligibility USD 250,000 or equivalent per individual per financial year No defined limit
Purposes Capital Account transactions covered under LRS are as follow:
  • Opening of Foreign Currency Account abroad with a bank;
  • Remittances for investment in Purchase of Property;
  • Remittance towards Investments abroad (both listed and unlisted shares of an overseas company);
  • Set up Joint Ventures (JV) / Wholly Owned Subsidiaries (WOS) by individuals outside India for bona-fide business activities outside India (with effect from August 5, 2013)- Refer all these cases to your nearest Trade desk only ;
  • Extending loans including loans in Indian Rupees to Non-Resident Indians (NRIs) who are relatives as defined in Companies Act, 2013.
RBI has also brought the following purposes mentioned in the Schedule III under the umbrella of LRS.
  • Private visits to any country (except Nepal and Bhutan);
  • Gift or Donation;
  • Going abroad for employment;
  • Emigration;
  • Maintenance of close relatives abroad;
  • Travel for business, or attending a conference or specialized training or for meeting expenses for meeting medical expenses, or check-up abroad, or for accompanying as attendant to a patient going abroad for medical treatment/check-up;
  • Expenses in connection with medical treatment abroad;
  • Studies abroad;
  • Any other current account transaction.
All other purposes besides the purposes mentioned under LRS
Exceptions For the purposes Emigration, Expenses in connection with medical treatment abroad and Studies abroad, the individual may avail of exchange facility for an amount in excess of the limit prescribed under the Liberalized RemittanceRemittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. Scheme as provided in regulation 4 to FEMA Notification 1/2000-RB, dated the 3rd May, 2000 if it is so required by a medical institute offering treatment or the university or country of emigration, respectively.

NA

* Remittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different.

 

** Remittance is any form of money transfer or payment done from one's working country to home country. Depending on the difference in currency rates and the amount to be transferred, the charges on remittance are also different. Scheme

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  • SAVINGS RATES*

  • Daily balance upto 5 lac 4 %
  • Daily balance above 5 lac and upto 10 lac 5 %
  • Daily Balance above 10 lac 6 %
  • DEPOSIT RATES

  • 1 year to 1 year 2 months 7.15 %
  • Indus Tax Saver Scheme - 5 years (upto Rs 1.5 lacs) 6.75 %
* applicable till 28.2.2017
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