What is the transaction cost while sending money abroad to a global investment account?

There are no fees for adding funds to your Global Investment account with Kotak Securities. Remittance charges for wiring money from another country to your Global Investment account, on the other hand, are determined by your bank and its correspondent overseas banking partners. For wiring money abroad to a Global Investment account, Kotak Mahindra Bank charges a flat fee of Rs.1000 + GST per transaction.

Currency conversion fees charged by domestic banks for both outbound and inbound remittances vary by bank. These can range between 0.5 and 3%. Please check with your bank to confirm these charges. In addition to the currency conversion fee, some banks charge a processing fee. From October 1, 2020, a 5% tax deduction at source will be applied to amounts exceeding INR 7,00,000 remitted abroad.