Kotak Mahindra Bank Remittance Charges
Full per-currency rate sheet, fee-component breakdown, and worked totals at ₹50,000, ₹1,00,000, and ₹5,00,000 across USD, GBP, EUR, AED — all computed against Kotak Mahindra Bank's own data.
Today's USD rate
₹96.9000
TT Selling, INR per 1 unit
Commission
₹500
flat
GST
18%
on Commission + Correspondent Charge
Swift charge
—
not separately charged
01 · Things to know
Things to know
Applies to:Outward remittance via Kotak NetBanking or Mobile Banking, Resident Individual, OUR charge-bearer (sender pays correspondent fees).
- Branch transactions cost ₹2,250 vs ₹1,000 online (before GST) — more than double the online price.↗
- The ₹500 Correspondent fee assumes OUR (sender pays); SHA / BEN shifts the cost to the recipient as an in-flight deduction.↗
- GST applies twice: 18% on processing + correspondent (₹180), plus a slab GST on the foreign amount exchanged (min ₹45, max ₹10,800).↗
- TCS at 20% applies on general LRS remittance above ₹10 lakh per financial year (refundable as a tax credit at ITR time).
- Use NetBanking or Mobile instead of branch — saves ₹1,250 per transfer before GST.↗
▸Show 2 more notes
Other things to know
- BHD and OMR rates are published but marked "No Txns" — Kotak may not actually transact these currencies; verify with branch.↗
Other ways to save
- Keep the default OUR charge-bearer if you want the full amount credited to the beneficiary without surprise deductions.
02 · What you'll pay
What you'll pay
Kotak Mahindra Bank bundles a small set of line items into the final fee. Each is computed from the rules below.
| Component | How it's calculated |
|---|---|
| Outward Remittance Commission (Online) | Flat ₹500 |
| Correspondent Bank Charge | Flat ₹500 |
| GST on Commission + Correspondent (18%) | 18% on commission, correspondent_charge |
| GST on Amount Exchanged | Slab by ACE; 3 bands |
03 · Today's rates
Today's rates
TT Selling = rate the bank uses when you send money abroad. TT Buying = rate applied when you receive money from abroad. Spread shows how much wider the sell rate is over the buy rate.
| Currency | TT Selling (outward) | TT Buying (inward) | Spread |
|---|---|---|---|
| USD | 96.9000 | 93.6400 | 3.48% |
| EUR | 112.2000 | 107.3400 | 4.53% |
| GBP | 130.9200 | 125.4000 | 4.40% |
| AUD | 68.7600 | 65.1000 | 5.62% |
| CAD | 69.6200 | 66.0000 | 5.48% |
| CHF | 120.0800 | 114.3900 | 4.97% |
| NZD | 57.2900 | 54.4600 | 5.20% |
| SGD | 75.8600 | 72.7000 | 4.35% |
| HKD | 12.5000 | 11.7900 | 6.02% |
| JPY | 0.6209 | 0.5821 | 6.67% |
| THB | 2.9800 | 2.7700 | 7.58% |
| CNH | 14.6000 | 13.6000 | 7.35% |
| AED | 26.9300 | 24.9500 | 7.94% |
| SAR | 26.1800 | 24.5700 | 6.55% |
| OMR | 214.8200 | 211.8200 | 1.42% |
| BHD | 219.2500 | 216.4800 | 1.28% |
| KWD | 317.6600 | 302.7900 | 4.91% |
| DKK | 15.2100 | 14.1500 | 7.49% |
| SEK | 10.3300 | 9.7000 | 6.49% |
| ZAR | 6.0100 | 5.6300 | 6.75% |
04 · Worked examples
Worked examples
Real totals at three benchmark amounts across four currencies, computed against Kotak Mahindra Bank's own rate sheet.
| Amount | Foreign amount | Total fees |
|---|---|---|
| USD | ||
| ₹50,000 | 516.00 USD | ₹1,270 |
| ₹1,00,000 | 1031.99 USD | ₹1,360 |
| ₹5,00,000 | 5159.96 USD | ₹1,720 |
| GBP | ||
| ₹50,000 | 381.91 GBP | ₹1,270 |
| ₹1,00,000 | 763.83 GBP | ₹1,360 |
| ₹5,00,000 | 3819.13 GBP | ₹1,720 |
| EUR | ||
| ₹50,000 | 445.63 EUR | ₹1,270 |
| ₹1,00,000 | 891.27 EUR | ₹1,360 |
| ₹5,00,000 | 4456.33 EUR | ₹1,720 |
| AED | ||
| ₹50,000 | 1856.67 AED | ₹1,270 |
| ₹1,00,000 | 3713.33 AED | ₹1,360 |
| ₹5,00,000 | 18566.65 AED | ₹1,720 |
Sending money to specific countries
At ₹1,00,000, Kotak Mahindra Bank charges the same total on every supported corridor — commission and GST components don't vary by destination currency at this amount.
Supported corridors — click any for the full breakdown
Try it
Run your own numbers
Adjust the amount and currency below to see live totals for Kotak Mahindra Bank.
TRANSFER
You pay in INR; recipient receives USD.
Used to determine if this transfer crosses the ₹10L TCS threshold.
Best deal: Indian Overseas Bank. You save ₹1,807.72 vs the most expensive.
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
BREAKDOWN
Outward remittance
Amount being sent $1,000.00 × ₹95.44 | ₹95,440.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹171.79 |
| Total charges | ₹1,056.79 |
| Total payable (INR) | ₹96,496.79 |
- Amount being sent
- ₹95,440.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹171.79
- Total charges
- ₹1,056.79
$1,000.00 × ₹95.44
Total payable (INR)
₹96,496.79
TCS is refundable when you file your ITR — it's a tax credit, not a fee.