Enjoy Zero Charges on All Commonly Used Savings Account Services
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Quick fund
transfers from
Canada to India with
IDFC FIRST Bank
Canada is home to many Indians, with a diverse background and mix of identities. Some are students, some others are professionals and business owners with permanent residencies while others hold Canadian citizenship. As a result, money transfers from Canada to India are common as these individuals send money back home to their family and friends. Money transfer is a common way to send money from Canada to India. However, opening an NRE (Non-Resident External Account) savings account can help NRIs quickly transfer money between a Canadian bank account and an Indian account.Read More
With an IDFC FIRST Bank NRE Savings Account, you can enjoy 100% liquidity with tax-exempt returns on your rupee-denominated NRE Savings Account. You can also convert your overseas funds to INR at the best exchange rates.Read Less
IDFC FIRST Bank does not charge anything for funds transfer received from abroad. GST will be levied on the converted gross INR amount, as per the existing Tax slab.
Please note that the remitting bank routes remittance funds through their correspondent banks in arrangement. These correspondent banks may levy certain charges for rendering their services which are neither in control nor the responsibility of the IDFC FIRST Bank.Read More
You can open an NRE account from anywhere in the world
An NRE account allows the repatriation of the amount held in it back to your country of residence
The interest earned on an NRE account is not subject to taxation in India
NRE savings accounts offer higher interest rates than normal savings accounts
IDFC FIRST Bank’s mobile and net banking services can help you make instant bill payments online and invest through your phone
You can keep abreast of the credit transactions in your account via constant online notifications
How to transfer money from Canada to India?
To transfer money securely from Canada to India, you can use IDFC FIRST Bank’s inward remittance services. Follow these steps to make a funds transfer from Canada to India:
1. Visit your foreign bank branch in Canada.
2. Submit the following payment details:
3. Upon receiving the foreign bank's payment, IDFC FIRST Bank will deposit the money in the desired account within 1 to 2 days.
It is important to note that you do not need to mention the account number for an FCNR (Foreign Currency Non-Resident) deposit. However, kindly ensure that your 10-digit customer ID is mentioned.
For faster credit, it is imperative to mention the purpose of payment. Also, note that the bank might need to reach the beneficiary for additional details before the money transfer.
The best way to send money to India from Canada is via inward remittance. IDFC FIRST Bank offers efficient money transfers from foreign countries to Non-Resident or Resident savings accounts in IDFC FIRST Bank.
IDFC FIRST Bank does not charge anything for funds transfer received from abroad. GST will be levied on the converted gross INR amount, as per the existing Tax slab.
Please note that the remitting bank routes remittance funds through their correspondent banks in arrangement. These correspondent banks may levy certain charges for rendering their services which are neither in control nor the responsibility of the IDFC FIRST Bank.
You can receive funds from overseas in your IDFC FIRST Bank account at personalised exchange rates through IDFC FIRST Bank’s inward remittance solutions. Inward remittance can help you efficiently send money from Canada to an Indian account.