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Savings Account with industry best 7% Interest

Notifications

Inward Remittance

Receive funds from overseas in your Indian account at competitive exchange rates

Calculate Now Know more
wealth

Features

Receive unlimited
inwards

Zero processing fees

Receive funds from overseas in your Indian account at competitive exchange rates

Multi-currency support, 15 different currencies including USD, EUR GBP, etc.

Apply Now

What is Inward Remittance?

Every year, non-resident Indians worldwide send billions of rupees to India for a variety of reasons, from funding investments to supporting family back home. Inward remittance refers to the transfer of money to Indian from abroad. For example, when you receive money in your Indian bank account from a relative abroad, it is called inward remittance. Know more

Lorem is dummy text dolor a sagacite is regulated by the International Financial Services Centre Authority (IFSCA). With a wide range of financial services under its hood, it presents enormous opportunities to accelerate cross-border trade and facilitate foreign investment.

Lorem is dummy text dolor a sagacite is regulated by the International Financial Services Centre Authority (IFSCA). With a wide range of financial services under its hood, it presents enormous opportunities to accelerate cross-border trade and facilitate foreign investment. Know less

How to transfer

Follow these simple steps to transfer funds conveniently:

  • Step 1

    Walk into your nearest IDFC FIRST Bank branch

  • Step 2

    Submit the Application for outward remittance
    Form A2 click to download
    More details

  • Step 3

    On receiving the payment from the foreign Bank, IDFC FIRST Bank will deposit the money in the desired account within 1 to 2 days***.

  • Step 1

    Walk into your nearest IDFC FIRST Bank branch

  • Step 2

    Submit the Application for outward remittance
    Form A2 click to download
    More details

  • Step 3

    On receiving the payment from the foreign Bank, IDFC FIRST Bank will deposit the money in the desired account within 1 to 2 days***.

For details on the exchange or forex rates, please Click Here

  1. * For FCNR Deposit, you don't need to mention account number but ensure your 10 digit customer ID is mentioned.
  2. ** For faster credit, it is mandatory to mention purpose of payment.
  3. *** In certain cases, the bank may be required to reach beneficiary for additional details prior to credit of funds.
Click here to view documentation Click here to view contact information

Remittance Calculator

Transfer money to India

USD
USD
AED
AUD
CAD
CHF

Enter amount

USD

100 1,00,000

Convert
  • Exchange rate USD1 = ₹84.74
  • Foreign exchange GST (INR) ₹147.6
  • Intermediary bank charges ₹ 20 ₹0
  • Exchange fee (INR) ₹ 300 ₹0

INR equivalent amount
credited will be

₹ 236.02

You saved ₹1,940.00

Charges

  • IDFC FIRST Bank does not charge any processing fees for fund transfer received from abroad. GST will be levied on the converted gross INR amount, as per the existing tax slab.
  • Click here to know the slab wise structure
  • Please note that the remitting bank routes remittance funds through their correspondent banks in arrangement. These correspondent banks may levy certain remittance charges for rendering their services which are neither in control nor the responsibility of the IDFC FIRST Bank.

FX Retail Platform

  • Reserve Bank of India (RBI), through Clearing Corporation of India Ltd (CCIL), has rolled out an electronic trading platform ‘FX-Retail’ where customers have the option to BUY and SELL foreign exchange. FX Retail platform, currently offers Cash/Tom/Spot deals.
  • For registration, please visit CCIL-FX Retail website, https://www.fxretail.co.in/#/login
  • Post successful registration on the FX Retail Platform, the limit can be setup by visiting the nearest branch of IDFC FIRST Bank.
  • For more information, visit the CCIL website, https://www.ccilindia.com/AboutUs/Pages FxRetailPlatform.aspx

Eligibility

Who can apply?

  • IDFC FIRST Bank Account Holder: Only individuals who hold an account with IDFC FIRST Bank are eligible to receive inward remittances.
  • Non-resident and resident account holders: Both Non-Resident Indian (NRI) and Resident account holders can avail of the inward remittance facility.

Limits

Here are the details of limits set for transfer:

...
Resident Indian
All purposes under LRS

Per txn. limit* - $25,000

Annual limit*- $250,000

USD 2,50,000 and equivalent in a financial year

...
Non Resident From NRE A/c
Repatriation of funds(S0014)

Per txn. limit* - $100,000

Annual limit*- $1,000,000

USD 1,000,000 and equivalent per financial year (No limit for current income)

...
Non Resident From NRO A/c
Repatriation of funds(S0014)

Per txn. limit* - $100,000

Annual limit*- $1,000,000

USD 2,50,000 and equivalent in a financial year

...
Foreign National Residing in India
Salary (1301)

Per txn. limit* - $25,000

Annual limit*- $250,000

USD 2,50,000 and equivalent in a financial year

Minors have same limits as residents.

...
Resident Indian
All purposes under LRS

Per txn. limit* - $25,000

Annual limit*- $250,000

USD 2,50,000 and equivalent in a financial year

...
Non Resident From NRE A/c
Repatriation of funds(S0014)

Per txn. limit* - $100,000

Annual limit*- $1,000,000

USD 1,000,000 and equivalent per financial year (No limit for current income)

...
Non Resident From NRO A/c
Repatriation of funds(S0014)

Per txn. limit* - $100,000

Annual limit*- $1,000,000

USD 2,50,000 and equivalent in a financial year

...
Foreign National Residing in India
Salary (1301)

Per txn. limit* - $25,000

Annual limit*- $250,000

USD 2,50,000 and equivalent in a financial year

Minors have same limits as residents.

Key benefits

Swift GPI

Seamless tracking of transaction starting from the time of initiation till funds reaches beneficiary

Competitive exchange rates

Enjoy attractive exchange rates like never before

Zero fees & charges

Make the most of zero processing fees and correspondent bank charges

Easy accessibility

Available to residents and non-resident customers of the bank

Regulations

Caution regarding unauthorised entities offering foreign exchange (forex) trading facilities

The Reserve Bank of India (RBI) has cautioned customers against unauthorised entities offering foreign exchange (forex) trading facilities to Indian residents with promises of disproportionate/exorbitant returns. These entities may take recourse to engaging local agents who open accounts at different bank branches for collecting money towards margin, investment, charges, etc. These accounts are opened in the name of individuals, proprietary concerns, trading firms etc. and the transactions in such accounts are not found to be commensurate with the stated purpose for opening the account in several cases. It is also observed that these entities are providing options to residents to remit/deposit funds in Rupees for undertaking unauthorised forex transactions using domestic payment systems like online transfers, payment gateways, etc.

View more

Lorem is dummy text dolor a sagacite is regulated by the International Financial Services Centre Authority (IFSCA). With a wide range of financial services under its hood, it presents enormous opportunities to accelerate cross-border trade and facilitate foreign investment.

Know less

Frequently asked questions

What is Pay Abroad facility?

Pay Abroad is a facility to transfer money by a resident in India or an NRI to a beneficiary outside India (except Nepal and Bhutan) for a purpose as approved under FEMA (Foreign Exchange Management Act). The various purposes include family maintenance, education, gifts, medical treatment, foreign travel, foreign outward remittance, employment abroad, repatriation of funds, etc.

What is the meaning of outward remittance?

The joining fee of ₹2,500 (+GST) will be levied instantly on card generation. You can pay for the fee before or after statement generation.

Who is eligible to make a funds transfer abroad?

On payment of joining fee, you will receive cashback of ₹400 for each of any 5 transactions worth ₹400 or more, completed using your credit card within 60 days of card generation. The joining benefit will be credited in the next statement. Cash withdrawal transactions, fees and charges will not be eligible for the joining benefit.

Testimonials

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Jane Doe

CEO, ABCD Company

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inverted-commas

Jane Doe

CEO, ABCD Company

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inverted-commas

Jane Doe

CEO, ABCD Company

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inverted-commas

Jane Doe

CEO, ABCD Company

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Get in touch with us

...
Are you an Indian resident?
If yes, you may call us at

1800-419-4332

...
Are you an NRI? If yes, please feel free to get in touch with us at
nriservices@idfcfirstbank.com

or call us at +91-22-6248-5152.

...
Still have doubts about our many NRI-related services?

Please write to us at nriservices@idfcfirstbank.com

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