Fund Transfer
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About Fund Transfers

HDFC Bank offers convenient fund transfer options for NRIs to send demand drafts and cheques to India. These services allow NRIs to easily and securely transfer funds to their beneficiaries in India, ensuring smooth financial transactions without the need for direct cash handling.

Key Features

Cheque and Draft Guide

  • You can send cheques to India or send Demand Drafts to your Indian Bank branch accompanied by a letter of instruction specifying the recipient's account details.
  • We accept cheques and drafts in the following currencies: USD, GBP, ZAR, EUR, SGD, CAD, AUD, HKD, NZD, CHF, NOK, SEK, AED and SAR.
  • Click here to check the clearing time for your Foreign currency Cheques and Demand Drafts.
Cheque and Draft Guide

Fees and Charges

Foreign Exchange Transactions

  • Remittance Outward
    • Up to USD 500 or equivalent: ₹500 flat
    • Above USD 500 or equivalent: ₹1,000 flat
  • Remittance Inward
    • No charge

Other Foreign Exchange Transactions

  • FCY Cash - Selling: No charge
  • FCY Cash - Encashing: No charge

Click here to know more about the fees and charges.

Fees and Charges

More About Fund Transfer

The key features of Fund Transfer from HDFC Bank are:

Competitive exchange rates for cost-effective transfers.

Secure transactions with automated processing, minimising manual errors.

After completion of transaction, SMS alerts are sent to both the sender and the recipient.

Option to send funds via Demand Draft or cheque with clear instructions for credit.

Sending funds to India offers several benefits, including timely support for family needs such as education, healthcare, and daily expenses. It facilitates investments in property or businesses, aiding in financial growth. Fund transfers also strengthen family ties and support systems across borders.

When transferring funds to India from HDFC Bank, the charges depend on the transaction type:

1. Remittance Outward:

  • Up to $500 or equivalent: ₹500 flat fee
  • Above $500 or equivalent: ₹1000 flat fee

2. FCY Demand Drafts Issuance:

  • Up to $500 or equivalent: ₹200 flat fee
  • Above $500 to USD 10,000 or equivalent: ₹300 flat fee
  • Above $10,000 or equivalent: ₹500 flat fee

3. FCY Cheque Collection (FCY personal cheque, FCY DDs sent for collection):

  • 0.25% of Indian Rupee value (minimum ₹250 per transaction), plus ₹50 courier charges.

Frequently Asked Questions

No tax is applicable on money transferred from abroad to India. This is because you’ve already paid tax on the income earned in the foreign country. India has signed the Double Taxation Avoidance Agreement with 85 other countries.

There is no limit on the amount an NRI can send to India, provided it is earned legally. However, taxes must be paid on this income in the country where it was earned.