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The good old postal service still gets your money home. Simply mail a demand draft
favouring your Kotak Mahindra Bank Account and we will collect the funds from your
overseas bank and credit it to your account.
Remittance Procedure
Kindly mail the instrument to the address mentioned below:
NRI Service Center
Kotak Mahindra Bank
5th Floor, Vinaya Bhavya Complex,
C. S. T. Road, Santacruz East,
Mumbai 400 098, India.
Note:
- Please ensure that the demand draft is not endorsed and is still a valid
instrument.
- The instrument must be issued from your account held with an overseas bank.
- Cheques/drafts have to be sent along with the pay-in-slip (name of beneficiary
and 14 digit account number) to the designated address mentioned above by first
class mail / regular mail only. Cheques sent by courier will not be accepted.
- Kotak Mahindra Bank will not be responsible for any postal delays, or a delay
caused due to incorrect address and any other such error.
Turn Around Time
| Currency |
Turn Around Time for Credit to Account* |
| USD |
6 working ** days for USD instruments
drawn on banks in New York City.
14 working ** days for USD instruments
drawn elsewhere. |
| Euro |
8 working ** days |
| GBP |
8 working ** days |
| SGD |
21 working ** days |
* From the date of credit to Kotak Mahindra Bank’s
nostro account.
** Excluding Saturdays, Sundays and Public Holidays
Foreign Currency Conversion Charge which
is an explicit charge of Rs.50 for Individuals and Rs.100
for Non Individuals along with a service tax of 12.36 % (as
per current prevalent rates) is applicable to all transactions
that involve Foreign Currency Conversion. This charge is
applicable with retrospective effect from 16th May 2008 as
per the CBDT circular in the Finance Act 2008.
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