Foreign exchange & education remittance
Send money abroad for university fees.
What it costs — and what it would have cost.
- 1%our charge
- Same dayevery destination
- ₹0TCS with a loan
- Travel card with Niyo GlobalLiving costs abroad at the live rate, zero markup
- Rates refreshed hourlyNot a number set once a day
- Compliance checked at quoteLRS headroom, purpose code and TCS, before anything moves
- Same-day deliveryAll 18 destinations, documents in by 1:00 pm IST
Market reference, our markup already in it · updated 44 min ago · your quote is confirmed when we call
- ₹96.67per USD
- ₹131.88per GBP
- ₹112.91per EUR
- ₹70.04per CAD
- ₹69.29per AUD
- ₹57.75per NZD
- ₹76.14per SGD
- ₹26.32per AED
Your transfer, itemised
1 USD = ₹96.67 · market referenceSource of funds
| Line | FundMyCampus1% over the partner rate, no wire fee | A typical bank wire~3.2% spread plus ₹1,500 in fees |
|---|---|---|
| PrincipalThe tuition itself — identical either way | ₹20,00,000 | ₹20,00,000 |
| Exchange markupWhat the rate quietly takes | ₹20,000 | ₹64,000 |
| Wire and correspondent feesSWIFT, intermediary bank, handling | ₹0 | ₹1,500 |
| TCS under 394(1)Nil — funded by an approved education loan | ₹0 | ₹0 |
| Total debited from your account | ₹20,20,000 | ₹20,65,500 |
| Credited to the universityThe same money arrives either way — only the cost of moving it differs | $20,690 | $20,690 |
Bars share one scale across the deduction rows. The principal carries no bar — it is the same figure on both sides. Ruleset FY2026-27.1.
₹45,500
stays in your account, for the same money landing at the university.
Because this remittance is loan-funded, TCS is nil — nothing to pay upfront, and nothing to reclaim in your ITR. The sanction letter has to be linked to the remittance for that to hold.How it works
Three steps, start to credited.
Most transfers are confirmed the same working day you upload the invoice.
01 — Upload
The invoice, and your sanction letter
Your university’s fee invoice and, if you have one, the loan sanction letter. That is the documentary proof.
02 — Quote
The itemised position
Markup, fees and TCS, with the compliance check run before anything is submitted. Nothing moves until you agree.
03 — Remit
Our partner sends it
The AD-II partner executes the transfer and files Form A2 under purpose code S0305.
The line that matters
Your loan removes the TCS entirely.
Education remittance funded by a loan from a specified financial institution is nil-rated at any amount. Self-funded, it is 2% above the ₹10 lakh threshold — collected upfront, and sitting with the department until you reclaim it.
₹20,000Self-funded, on ₹20,00,000→₹0Funded by an education loan
Check loan eligibilityTwo more worth reading
No line item you have to take on trust.
Rate
The markup is a published number
1% over the partner’s bookable rate — 100 basis points, printed on every quote in rupees. The rest of the category folds a 2–5% spread into a “zero fee” claim and never itemises it.
Paperwork
It arrives filled in
Purpose code S0305, the A2 declaration, your university invoice and the sanction letter as documentary proof. You sign it; you don’t assemble it.
Free tools
Work out the real cost before you talk to anyone.
They receive, before any bank charges at their end$1,034.51 USD = ₹96.67 · includes our published 1% charge
Corridors
Corridors we serve.
18 corridors, each with its own receiving requirement. Canada wants an institution and transit number, Germany a blocked-account confirmation, Russia a correspondent route that still clears.
₹96.67United StatesSame dayI-20 and university invoice₹131.88United KingdomSame dayCAS and tuition invoice₹70.04CanadaSame dayGIC, institution and transit number₹69.29AustraliaSame dayCoE and tuition invoice₹112.91GermanySame dayBlocked-account confirmation₹112.91IrelandSame dayOffer letter and tuition invoice
- FranceSame day₹112.91
- NetherlandsSame day₹112.91
- ItalySame day₹112.91
- New ZealandSame day₹57.75
- SingaporeSame day₹76.14
- United Arab EmiratesSame day₹26.32
- RussiaMBBSSame day₹1.16
- GeorgiaMBBSSame day₹37.06
- KazakhstanMBBSSame day₹0.211
- KyrgyzstanMBBSSame day₹1.11
- UzbekistanMBBSSame day₹0.00817
- PolandMBBSSame day₹26.15
Travel money · with Niyo Global
Fees are the first half. Living is the second.
Tuition goes by transfer. Rent, groceries and the bus do not — they go on a card that leaves your money in rupees until you tap, then converts at the live network rate with nothing added on top.
- Zero markupThe network rate at the moment you spend, not a card rate
- No TCS, no LRS usedCard spending abroad is outside both, so your limit stays for fees
- Topped up from IndiaAn ordinary rupee transfer — no declaration each time
Talk to us
Tell us the transfer. We’ll come back with the exact position.
Rate, markup in rupees, TCS and the paperwork you’ll need — for your amount and your university, not a worked example. Tell us the transfer and we will call you back.
- No obligation, and no payment at this stage
- Executed by an RBI-authorised AD Category-II partner
- Your number is used to reach you about this enquiry
Questions
What people ask before they send ₹20 lakh.
Why is TCS nil if I use an education loan?
Under Section 394(1) of the Income-tax Act 2025 — the provision you may know as 206C(1G) before the Act was renumbered — education remittance funded by a loan from a specified financial institution is nil-rated at any amount. Self-funded, it is 2% on anything above the ₹10 lakh threshold — collected upfront and reclaimed in your ITR. The loan has to be sanctioned before the transfer for the exemption to apply, and the sanction letter has to be linked to each remittance or the bank charges the 2% anyway.
Is there a cap on how much I can send?
The Liberalised Remittance Scheme allows USD 250,000 per person per financial year, aggregated across every bank you use — and it is per person, so a second parent has their own limit. Education is the one purpose that can go beyond it: an authorised dealer can release more against a written fee estimate from your university, without RBI approval. Anything above ₹25,00,000 in one transfer we route by hand rather than straight through, so it gets checked before it moves.
What does same-day delivery actually mean?
Your transfer is sent the same working day, to all 18 destinations we serve, provided your documents are with us by 1:00 pm IST. After that cut-off it goes the next working day. The cut-off is the whole condition — there is no separate list of slower countries.
What exactly do you charge?
1% over our partner's bookable exchange rate — 100 basis points — and no wire or correspondent fee. On a ₹20,00,000 transfer that is ₹20,000, printed on your quote in rupees before you commit. A typical bank wire folds a 2–5% spread into the rate and adds fees on top without itemising either.
Who actually moves the money?
An RBI-authorised AD Category-II partner executes the transaction as principal and holds the funds. We collect your details, compute the compliance position and hand over a complete package. We never hold or convert foreign exchange.
What paperwork do I have to produce?
The university invoice, your PAN, and the loan sanction letter if the transfer is loan-funded. Form A2 is filed under purpose code S0305, and a TCS certificate is issued for your return.
Before you remit
Get sanctioned first. Then remit.
The order is what makes the exemption apply — a loan sanctioned before the transfer takes the TCS to nil. Checking eligibility takes about two minutes.
Check loan eligibility