Bajaj Markets, a subsidiary of Bajaj Finserv, in partnership with the IndusInd Bank, now offers access to the IndusInd Bank Outward Remittances service. The Liberalised Remittance Scheme (LRS) facility allows individuals to send money abroad.
Make international money transfers with IndusInd Bank Outward Remittances
This scheme allows individuals to make international money transfers in 16 currencies – Euro (EUR), Great Britain Pound (GBP), United States Dollar (USD), Canadian Dollar (CAD), Australian Dollar (AUD), New Zealand Dollar (NZD), Hong Kong Dollar (HKD), Singapore Dollar (SGD), Saudi Riyal (SAR), Arab Emirates Dirham (AED), Japanese Yen (JPY), Swiss Franc (CHF), South African Rand (ZAR), Danish Krone (DKK), Norwegian Krone (NOK), Swedish Krone (SEK), and South African Rand (ZAR), up to USD 250,000 in a financial year.
With Bajaj Markets, accessing the IndusInd Bank Outward Remittances service is simple. The process is secure and allows users to send money overseas without any hitches. Best of all, the fully-digital process ensures that users do not have to visit the bank branch physically.
However, when availing of this international money transfer scheme, one must be aware of the transfer limit as set out by the RBI. These are the terms:
Resident/Account Type
LRS Limit
Indian Residents
USD 250,000
NRIs with Non-Resident External (NRE) and Foreign Currency Non-Resident (FCNR) accounts
NIL
NRIs with Non-Resident Ordinary (NRO) accounts
USD 1 Million
Fees and Charges
Particulars
Applicable Fees and Charges
Wire Transfer Charges
Rs. 500
SWIFT Charges
Rs. 500
Intermediary Bank Charges
Differs from country to country as the fund is transferred through a network of various intermediary banks with different charges applicable for a particular currency
Users enjoy complete transparency and can transact securely with the IndusInd Bank Outward Remittances service. Avail the same on the official Bajaj Markets website or application.
About Bajaj Markets
Bajaj Markets, a subsidiary of Bajaj Finserv, and one of the fastest growing fintech in India, is a one-stop digital marketplace that offers multiple financial products across all categories – Loans, Cards, Insurance, Investments and Payments. Bajaj Markets has partnered with some of the most trusted names to offer choice to its customers and help them achieve their financial life goals.
Having started its journey as a fintech, Bajaj Markets has since then, built a very strong business as a techfin. Its technology services businesses are built on its core capabilities in consumer insights, technology and data analytics. Its first B2B SBU, Skaleup, has been created to become the leading digital technology services provider in India through deep domain expertise and execution capabilities.
Bajaj Markets has built a new business unit to become the preferred partner for digital technology initiatives across all group companies of Bajaj Finserv. Herein, the strategy is to align with digital technology roadmap objectives of all the group companies of Bajaj Finserv and offer digital technology services and platforms at market competitive rates.
Visit www.bajajfinservmarkets.in or download the Bajaj Markets app from Play Store or App Store. With Bajaj Markets, “Ab Choices Hue Aasaan.”
