Kotak Forex Rates & How to Order Foreign Currency Cash?

Kotak Forex Rate
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Kotak Mahindra Bank is one of India’s leading private sector banks, offering a range of foreign exchange services. It helps you make seamless global financial transactions for various purposes, ranging from tuition fees abroad to shopping at marketplaces. Kotak forex rates are equally competitive which enables you to avail Kotak currency foreign cash services at your doorstep. Continue reading to find out more about Kotak forex rates.

What are Kotak Forex Rates?

Kotak Forex rates represent the value of one currency in terms of another. The bank offers competitive forex rates and allows you to exchange foreign money in 15 global currencies. The forex rates are set on various factors such as market conditions and demand-supply of the particular currency.

  • Kotak Forex rates are highly volatile. They keep on changing based on economic conditions.
  • Exchange rates today may be different the next day.
Kotak Forex Rates on Purchase and Sale of Foreign Currency
Up to INR 1 lakhs1% of the gross amount of currency exchanges or a minimum of INR 250.
INR 1 lakh to INR 10,00,0001000 + 0.50% of the gross amount of currency exchanged less INR 1,00,000.
Above INR 10,00,000INR 5500/- + 0.10% of the gross amount of currency exchanges less 10,00,000 subject to a maximum of INR 60,000.

Also Read: Applying for an education loan? To know more about the Kotak Mahindra Bank education loan interest rates, check out our blog.

Kotak Forex Rates on Forex Card

Since carrying foreign cash can be difficult to manage, the bank offers a Kotak Forex Card. This card gives you global convenience and unmatched security. Available in 13 currencies, the card is valid for a period of up to 5 years. You can load multiple currencies in one card at the best Kotak forex rates.

Issuance FeeINR 250 (exclusive of GST)
Reloading FeeINR 75 (exclusive of GST)
Cross Currency Transactions3.5% mark-up
Cash Withdrawal (ATM Charges)USD 2, EURO 1.5, GBP 1.5, AUD 2.5, SGD 2.7, CHF 2.5, HKD 15, CAD 2.5, JPY 215, SEK 16, ZAR,25  AED 7.29, SAR 7.29 (exclusive of GST)
Lost Card Reissue FeeUSD 20, EURO 16, GBP 13, AUD 23, SGD 25, CHF 20, HKD 150, CAD 25, JPY 2149, SEK 150 ZAR  247 AED 73 SAR  73 (outside India) (exclusive of GST)

Also Read: To understand the differences between the HDFC Bank Forex Card and Axis Bank Forex Card you must check out this blog: HDFC Bank Forex Card Vs. Axis Bank Forex Card.

Features of Kotak Foreign Currency Cash

Kotak Mahindra Bank offers foreign currency exchange in 15 global currencies, including USD, GBP, CAD, CHF, AED, and EUR. You can apply for the same via the Kotak Mobile Banking App and get it delivered to your doorstep, similar to Travelex currency exchange services. This helps you avoid the hassles of branch visits. 

  • No physical documentation other than PAN and passport is required.
  • Fees are applicable based on the foreign currency bought and sold from Kotak Bank.
  • Kotak foreign exchange services can be availed 60 days in advance.
  • Foreign cash of up to USD 3,000 can be carried. The rest amount can be carried in a Kotak Forex Card.
Currencies that can be exchanged with Kotak Mahindra Bank
USDHKDNZD
CHFSEKDKK
CADZARSGD
AEDSAREUR
JPYAUDCNH

How to Order Kotak Foreign Currency?

Getting your foreign currency in cash from Kotak Mahindra Bank is very easy. You don’t have to visit the bank’s nearest branch to get the foreign cash. You can simply apply through the Kotak Mobile Banking App. Follow the given steps-

  • Login to Kotak Mobile Banking.
  • Click on Forex Cash.
  • Select the currency you wish to exchange.
  • Enter the amount and other details.
  • Confirm A2 and LRS declaration.
  • Submit your request.

Also Read: Let’s know about some frequently asked questions on currency exchange for students abroad in our blog.

This was all about Kotak Forex rates. To know the exact exchange rate, you should visit the official website of the bank as they update the forex rates regularly.

To know more about education loans, the best bank accounts for students, forex cards, and banking experience for global students or international money transfers, reach out to our experts at 1800572126 to help ease your study abroad experience.

FAQs

What are Kotak Forex rates?

Kotak Forex rates represent the value of one currency in terms of another. The bank offers competitive forex rates for 15 global currencies. The forex rates are set on various factors such as market conditions and demand-supply of the particular currency.

Does Kotak Mahindra Bank exchange foreign currency?

Yes. Kotak Mahindra Bank offers foreign currency exchange in 15 global currencies, including USD, GBP, CAD, CHF, AED, and EUR. You can apply for the same via the Kotak Mobile Banking App and get it delivered to your doorstep.

How much currency can I exchange from Kotak Bank?

Foreign cash of up to USD 3,000 can be carried. The rest amount can be carried in a Kotak Forex Card. You can exchange in  15 global currencies, including USD, GBP, CAD, CHF, AED, and EUR.

What are Kotak Forex rates on currency exchange up to INR 1 lakhs?

1% of the gross amount of currency exchanges or a minimum of INR 250 is charged on the purchase or sale of foreign currency from Kotak Mahindra Bank.

How can I order  Kotak Foreign Currency Cash?

You can apply for the same via the Kotak Mobile Banking App and get it delivered to your doorstep. Login to their official app and click on Forex Cash. Now, select the currency, and enter the amount and other details. Confirm A2 and LRS declaration and submit your request.

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About Shubhika Garg

Hey there! I'm Shubhika- a proud graduate in English Literature and Language from Delhi University. My journey as a content writer transitioned from online teacher into the world of words. Stepping into the domain of blogs and articles, I discovered my passion for writing growing deeper and stronger. Having said that, I have experience of writing for diverse industries in automobile, technology, ed-tech, finance and mental-health; crafting details to help you find the solution to what you are looking for. Join me as I invite you all explore and learn together.

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