Features

Important Instructions

FEES & CHARGES


 Charges applicable for transactions requested through RemitNow are as below:

Commission on Foreign Outward Remittance through NetBanking or Mobilebanking is charged as below:

  • Up to USD 500 or equivalent - Rs. 500/- per transaction
  • Above USD 500 or equivalent - Rs. 1000/- per transaction

All foreign exchange transactions are subject to levy of Goods and Services Tax (GST), which is payable in addition to the charges mentioned above.

Presently, the applicable rate of GST are as under:

  • On amount of commission, fees and charges paid - @ 18% of amount of the commission/fees/charges.
  • On amount of foreign currency exchanged as per below slab:

Amount of Currency Exchanged (ACE)

GST rates

Minimum GST

Maximum GST

Upto Rs. 1 lakh

0.18% of ACE

Rs. 45

Rs. 180

Between Rs. 1 lakh and up to Rs. 10 lakh

INR 180 + 0.09% of ACE

Rs. 180

Rs. 990

Above Rs. 10 lakh

INR 990 + 0.018% of ACE

Rs. 990

Rs. 10,800


Tax Collected at Source (TCS) : TCS was introduced by the Finance Act 2020 on Foreign Exchange transactions applicable to Resident Indian under Liberalised Remittance Scheme (LRS). Below are the applicable rates:

Sr.  No

Purpose of Remittance abroad

TCS Rate
(Applicable till 31st March 2025)

New TCS rate
(w.e.f 1st April 2025)



Normal PAN

Inoperative PAN /Specified Person

Normal PAN

Inoperative PAN

1

LRS for education purpose, if the amount being remitted is from education loan obtained from a specified institution

Upto 7 Lakh: NIL

Above 7 Lakh: 0.5%

Upto 7 Lakh: NIL

Above 7 Lakhs: 5%

NIL

NIL

2

LRS for the purpose of education, other than (1) above (or) for the purpose of medical treatment.

Upto 7 Lakh: NIL
Above 7 Lakh: 5%

Upto 7 Lakh: NIL
Above 7 Lakh: 10%

Upto 10 Lakh: NIL

Above 10 Lakhs: 5%

Upto 10 Lakh: NIL
Above 10 Lakh: 10%

3

Any other purpose under LRS

Upto 7 Lakh: NIL

Above 7 Lakh: 20%

Upto 7 Lakhs: NIL
Above 7 Lakhs: 20%

Upto 10 Lakh: NIL
Above 10 Lakh: 20%

Upto 10 Lakh: NIL
Above 10 Lakh: 20%


Note :

  • All commission, fees and charges, as mentioned above, are non-refundable (unless otherwise stated).
  • Charges mentioned above are charges levied by HDFC Bank only and does not include any charges that may be levied by originating/correspondent banks, excluding transactions processed under Full value facility.


For more details on fees and charges, please click here. 

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