Because you just don't want to be a spectator in that foreign land. Of course, you would want to indulge yourself in the place wherever you are. At Muthoot Fincorp, we offer you the best rates through our intimate knowledge of the wholesale and retail financial markets.
We are an experienced team of advisors supported by the latest technology & are abreast with the trends in the industry. Individual or corporate, a dedicated customer service person is assigned to each customer. You can easily buy and sell all major currencies with zero per cent commission (currently 25 destination currencies available). We are bound by and follow KYC norms as per the regulator's guidelines.
Original proof of identification. Any of the following are acceptable:
Please use the toll free number ( 1800 102 1616 )
What are currency rates?
An Exchange rate between two currencies is, the rate at which one currency will be exchanged for another. It is also regarded as the value of one country's currency in terms of another currency.
Do currency rates fluctuate during the day?
Yes it can fluctuate intraday.
What are the currencies we accept?
We accept 26 major currencies.
What is BTQ?
Basic Travel Quota- Foreign exchange one can avail on a pleasure trip. This can combine with a business trip.
How much currency can one can carry for a pleasure trip (BTQ)?
USD 10000 (Maximum of USD 3000 in currency Rest in TCs or Cards) per traveller
How much currency can one carry in a business trip?
USD 25000 (Maximum of USD 3000 in currency Rest in TCs or Cards) per traveller
How much cash can we accept on sale of foreign currency?
INR 50,000, if the amount is more than 50,000, we can accept the amount by way of Crossed Cheque / Demand draft/Pay Order or by RTGS to our account.
What is the limit of Indian rupees which can be given for encashment of foreign currency by an Indian Resident?
Equivalent of USD 1000, above this limit the amount can be given only by a crossed Cheque for full amount.
What is the limit of Indian rupees which can be given for encashment of foreign currency by an NRI/Foreigner?
Equivalent of USD 3000 and above this limit the amount can be given only by a crossed Cheque for full amount.
For Forex transactions, are there any other charges we take?
Yes, we take Rs 25 /- as service charges
Is service tax levied on service charge?
Yes, as per statutory requirements, service Tax is applicable on all transaction as per the slab.
Can we send money abroad?
Yes. We can send money abroad from a resident to their close relatives abroad, for higher studies, for emigration, for medical treatment expenses etc.
For sending money abroad we require the following details/documents
What is called CDF?
Currency Declaration Form - This is issued by the Customs Authorities at the airport or seaport for the passengers who bring currency notes and travelers cheques exceeding US$ 10000/- or its equivalent or the value of the currency note exceeding US$ 5000 or its equivalent.
What is KYC & AML?
KYC means Know Your Customer/ AML means Anti money Laundering
What are the documents required for availing/purchasing foreign currencies from us?
BTQ Form/ Self declaration form duly signed by the passenger
Passport/ Visa copy of the passenger
Ticket copy of the passenger and any other documents stipulated by RBI depending on the purpose of visit
What are the documents we require for encashing foreign currencies from a resident Indian?
Any ID card with Address proof (Need to keep a copy of the ID if the amount is more than USD 200)
What are the documents required for encashing foreign currencies from an NRI ( If the same is above USD 1000)?
Passport Copy / ID card with address proof
Proof of their NRI Status
What are the documents we require for encashing foreign currencies from a Foreigner?
Valid Indian Visa