RemitFee

Kotak Mahindra Bank · India → Japan

Kotak Mahindra Bank to Japan: what it actually costs to send JPY from India

At ₹1,00,000, Kotak Mahindra Bank charges ₹1,360 — the 5th-cheapest of 6 banks for JPY. State Bank of India is ₹1,180 cheaper.

Last updated 9 Oct 2026

Fee breakdown

  • Commission ₹500
  • Correspondent Charge ₹500
  • GST Commission ₹180
  • GST Exchange ₹180
  • Total at ₹1,00,000₹1,360

JPY rate trend at Kotak Mahindra Bank

Today Kotak Mahindra Bank sells JPY at ₹0.6313 (TT Selling) and buys it at ₹0.5926 (TT Buying). The selling rate is +0.0053 (+0.85%) since 2 Oct and +0.0176 (+2.87%) since 1 Sep.

  • 30-day TT Selling range: ₹0.6258 – ₹0.6393 across 15 refreshes.
  • ₹1,00,000 bought between 156421.09 and 159795.46 JPY over that window, before charges.
Kotak Mahindra Bank JPY TT selling and TT buying rates, last 90 days16 Jul: TT Selling ₹0.6132 · TT Buying ₹0.574420 Jul: TT Selling ₹0.6132 · TT Buying ₹0.574429 Jul: TT Selling ₹0.6042 · TT Buying ₹0.565531 Jul: TT Selling ₹0.6129 · TT Buying ₹0.57421 Aug: TT Selling ₹0.6129 · TT Buying ₹0.57424 Aug: TT Selling ₹0.6245 · TT Buying ₹0.58577 Aug: TT Selling ₹0.6209 · TT Buying ₹0.582124 Aug: TT Selling ₹0.6209 · TT Buying ₹0.58211 Sep: TT Selling ₹0.6137 · TT Buying ₹0.575011 Sep: TT Selling ₹0.6393 · TT Buying ₹0.600514 Sep: TT Selling ₹0.6393 · TT Buying ₹0.600521 Sep: TT Selling ₹0.6291 · TT Buying ₹0.590223 Sep: TT Selling ₹0.6259 · TT Buying ₹0.587224 Sep: TT Selling ₹0.6258 · TT Buying ₹0.586928 Sep: TT Selling ₹0.6271 · TT Buying ₹0.588329 Sep: TT Selling ₹0.6306 · TT Buying ₹0.591730 Sep: TT Selling ₹0.6314 · TT Buying ₹0.59261 Oct: TT Selling ₹0.6260 · TT Buying ₹0.58732 Oct: TT Selling ₹0.6260 · TT Buying ₹0.58735 Oct: TT Selling ₹0.6285 · TT Buying ₹0.58986 Oct: TT Selling ₹0.6297 · TT Buying ₹0.59097 Oct: TT Selling ₹0.6282 · TT Buying ₹0.58958 Oct: TT Selling ₹0.6309 · TT Buying ₹0.59219 Oct: TT Selling ₹0.6313 · TT Buying ₹0.59260.640.5716 Jul9 Oct
TT Selling (when you send)TT Buying (when you receive)24 refreshes · INR per 1 JPY · hover a point for its values

All Kotak Mahindra Bank forex rates today →

What's specific to JPY at Kotak Mahindra Bank

Kotak Mahindra Bank's fee lines don't vary by destination currency — the breakdown above applies to every corridor it supports; only the exchange rate changes.

Receiving in Japan

  • Japanese accounts are identified by the bank code, branch code, 7-digit account number and account type (ordinary/futsu); the SWIFT/BIC code routes the wire. Beneficiary names are often required in katakana exactly as registered with the bank.
  • Japanese banks commonly charge the recipient an incoming international remittance fee (often JPY 1,500–2,500 at the megabanks), and a separate "lifting charge" may apply; confirm with the beneficiary's bank.
  • Japan Post Bank and some online banks have their own SWIFT arrangements; get the exact wiring details from the beneficiary rather than from a bank website.

Japan is 3.5 hours ahead of IST; a transfer sent in the Indian morning often credits the next Japanese business day.

How this compares

State Bank of India is ₹1,180 cheaper than Kotak Mahindra Bank for sending JPY to Japan.

See the full side-by-side →

Kotak Mahindra Bank — Things to know

Applies to:Sending money abroad via Kotak NetBanking or Mobile Banking as a Resident Individual. Online transfers always go as OUR, so you pay the correspondent fee.

  • Branch costs double. A branch transfer is ₹2,250 vs ₹1,000 online (before GST) — more than twice the price.↗
  • Online is always 'OUR'. Online Kotak Remit always sends as OUR, so the ₹500 correspondent fee always applies — you can only switch to SHA/BEN at a branch.↗
  • GST is charged twice. You pay 18% GST on the processing + correspondent fees (₹180), plus a slab GST on the amount converted (₹45 minimum, ₹10,800 cap).↗
  • TCS on large transfers. For general purposes, 20% TCS applies on LRS spending above ₹10 lakh a year — refundable as a tax credit at ITR time.
  • Skip the branch. Use NetBanking or Mobile instead of a branch to save ₹1,250 per transfer before GST.↗
▸Show 2 more notes

Other things to know

  • No BHD or OMR. Kotak's rate card lists BHD and OMR but tags them 'No Txns' — the bank doesn't transact them, so they aren't quoted here; use another bank for Bahrain or Oman.↗

Other ways to save

  • The full amount reaches the recipient. Because online transfers go as OUR, the recipient gets the full amount with no surprise correspondent deduction — that ₹500 fee is already in your total.

FAQ — Kotak Mahindra Bank to Japan

What is Kotak Mahindra Bank's JPY rate today?

₹0.6313 per JPY is Kotak Mahindra Bank's TT Selling rate today — the rate applied when you send — and ₹0.5926 is its TT Buying rate for money you receive. The selling rate is +0.0053 (+0.85%) since 2 Oct. The full sheet with a 90-day chart is on the Kotak Mahindra Bank forex rates page.

How much does Kotak Mahindra Bank charge to send JPY to Japan?

On a ₹1,00,000 outward remittance, Kotak Mahindra Bank's all-in cost today is ₹1,360 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for JPY. The fee breakdown above shows every line item.

Is Kotak Mahindra Bank the cheapest bank to send JPY to Japan?

No — State Bank of India is currently ₹1,180 cheaper than Kotak Mahindra Bank for JPY to Japan at ₹1,00,000. Kotak Mahindra Bank ranks 5th of 6 banks in our coverage for this corridor.

How long does a Kotak Mahindra Bank transfer to Japan take?

A standard SWIFT / TT outward remittance from Kotak Mahindra Bank to a beneficiary in Japan typically settles in 1–3 working days, depending on correspondent-bank routing.

What do I need to send money to Japan with Kotak Mahindra Bank?

You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in Japan, and proof of source of funds for larger amounts. TCS at 20% applies above ₹10 lakh per financial year for most non-education purposes and is claimable in your ITR.

Run your own numbers

TRANSFER

You pay in INR; recipient receives USD.

USD

Used to determine if this transfer crosses the ₹10L TCS threshold.

Best deal: Indian Overseas Bank. You save ₹3,948.89 vs the most expensive.

INR / 1 USD

TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.

BREAKDOWN

Outward remittance

Amount being sent
₹96,890.00

$1,000.00 × ₹96.89

Outward Remittance Commission (0.075%)
₹250.00
Swift Payment Message
₹500.00
GST on Commission + Swift (18%)
₹135.00
GST on Amount Exchanged
₹174.40
Total charges
₹1,059.40

Total payable (INR)

₹97,949.40

TCS is refundable when you file your ITR — it's a tax credit, not a fee.

Estimate only. Correspondent-bank charges are included only where the bank publishes them (Kotak, Axis, SBI); elsewhere they are a pass-through not shown here. Exchange rates shown are indicative. Mid-market rates by Exchange Rate API, updated daily.

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