KOTAK MAHINDRA BANK · UAE
Kotak Mahindra Bank to UAE: what it actually costs to send AED from India
At ₹1,00,000, Kotak Mahindra Bank charges ₹1,360 — the 5th-cheapest of 5 banks for AED. ICICI Bank is ₹295 cheaper.
Cost at common amounts
| Amount | Total cost | AED received |
|---|---|---|
| ₹50,000 | ₹1,270 | 1856.67 AED |
| ₹1,00,000 | ₹1,360 | 3713.33 AED |
| ₹5,00,000 | ₹1,720 | 18566.65 AED |
Fee breakdown
- Commission ₹500
- Correspondent Charge ₹500
- GST Commission ₹180
- GST Exchange ₹180
- Total at ₹1,00,000₹1,360
How this compares
ICICI Bank is ₹295 cheaper than Kotak Mahindra Bank for sending AED to UAE.
See the full side-by-side →Kotak Mahindra Bank — 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.
Run your own numbers
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.
Want the full picture?
- Kotak Mahindra Bank Bank: all remittance charges — every corridor Kotak Mahindra Bank supports, side by side
- Send money to UAE from India — all 5 banks compared for AED