Close
  • Close

OUTWARD REMITTANCE

REMIT MONEY ABROAD

Thank you for your interest. Our representative will get in touch with you shortly.

You may be eligible for a pre approved loan.
Login to NetBanking

Outward Remittance

YES BANK provides the facility of transferring money to anywhere around the world at competitive exchange rates with best-in-class pricing and minimal turnaround time.




Remittance Scheme – Resident

Education Abroad

-Education Abroad

Education Abroad

Eligibility

All Resident individuals

Limit

Within the overall limit of USD 250,000 per financial Year

Documentation

Remarks

  • Please ensure to mention the Student Name, Student ID, Country and Admission reference number while submitting the request.

  • If the fees exceed the limits of USD 250,000, the remittance may still be made by additionally providing estimate from Overseas College/Institution giving the details of course and fee structure.

  • Additional documents may be required on a case-to-case basis

Emigration

-Emigration

Emigration

Eligibility

All Resident individuals

Limit

Within the overall limit of USD 250,000 per financial year

However, individuals may avail of exchange facility for an amount in excess of the overall limit prescribed under the LRS, if it is so required by a country of emigration provided submission of proof of estimate by a country of emigration

Documentation

  • Application cum Form A2 under LRS with FEMA Declaration

  • PAN card copy

  • Customer declaration for purpose, country of emigration, visa type etc.

  • Form 15CA/CB

  • If payment is more than USD 250,000 – Supporting document from the embassy for the amount to be paid/Letter from Embassy/emigration authorities for higher payment requirement

Remarks

  • Remittance of any amount of foreign exchange outside India in excess of this limit may be allowed only towards meeting incidental expenses in the country of immigration and not for earning points or credits to become eligible for immigration by way of overseas investments in government bonds; land; commercial enterprise; etc.

Maintenance of close relatives abroad

-Maintenance of close relatives abroad

Maintenance of close relatives abroad

Eligibility

All Resident individuals

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

Remarks

A person is defined as a “Close relative” of another if they are:

  1. Son (including step-son)

  2. Wife

  3. Brother (including step-brother)

  4. Member of Hindu-Undivided Family (HUF)

  5. Sister (including step-sister)

  6. Daughter's Husband

  7. Husband

  8. Father (including step-father)

  9. Mother (including step-mother)

  10. Daughter

  11. Son's Wife

Medical Treatment abroad

-Medical Treatment abroad

Medical Treatment abroad

Eligibility

All Resident individuals

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

Remarks

  • If the value of remittance exceeds USD 250,000 then - Estimate from the overseas hospital / Doctor in India towards total expenses is to be obtained (This would be provided on a free-flowing format and we should not insist the details in a specific format only)

PRIVATE TRAVEL

-PRIVATE TRAVEL

7. Private Visit to any foreign country (except Nepal and Bhutan)

Eligibility

All Resident individuals

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

  • Application cum Form A2 under LRS with FEMA Declaration

  • PAN card copy

  • Invoice/Demand note from overseas hotel/ travel agent confirming the amount of remittance

  • Detailed Statement of traveler’s name, amount being remitted, date of travel, passport number, purpose of travel ((a) leisure / religious / medical/education / emigration...(b) business / conference)

Remarks

  • No foreign currency remittance for this purpose is permitted to Nepal & Bhutan

BUSINESS RELATED TRAVEL

-BUSINESS RELATED TRAVEL

Business travel, attending international conferences, Seminar, apprentice training& specialized training abroad

Eligibility

All Resident individuals

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

Remarks

  • No foreign currency remittance for this purpose is permitted to Nepal & Bhutan

  • Visits relating to attending of international conference, seminar, specialized training, study tour, apprentice training etc. are considered as “Business Travel”

PAYMENT TOWARDS INTERNATIONAL CREDIT CARD DUES

-PAYMENT TOWARDS INTERNATIONAL CREDIT CARD DUES

Payment towards International Credit Card dues (i.e. Cards issued in Foreign currency)

Eligibility

All Resident individuals holding account with YES Bank.

Limit

No maximum monetary limit prescribed by RBI. Amount of remittance should not exceed total amount due on the Credit Card.

Documentation

  • Application cum Form A2 under LRS with FEMA Declaration

  • PAN card copy

  • Credit card bill or invoice

  • In case the credit card issuing bank has appointed collection agency for recovering dues Letter from collection agency quoting credit card details i.e. card holder's name, credit card number, and amount due.

Remarks

  • Remittance must be made directly to the Bank issuing the card or to the Collection agency appointed by the bank.

  • Use of ICC for payment in foreign exchange in Nepal or Bhutan is not permitted

-Gift

Gift

Eligibility

All Resident individuals holding account with YES Bank

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

 

Remarks

  • “Gift”, being of a personal nature, should be made favouring an individual and not to a corporate or to himself/herself.

  • In case of Rupee Gift/Rupee Loan to Non-Residents, the same shall be under LRS (irrespective of the mode of remittance – RTGS/NEFT/Cheque)

  • Additional documents may be required on a case-to-case basis

Investment in Foreign Securities

-Investment in Foreign Securities

Investment in Foreign Securities

Eligibility

All Resident individuals holding account with YES Bank

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

  • In case you do not have an account with the Bank for 1 year, provide any one of the below

    • Other bank account statement for previous year

    • Income Tax Assessment Order

    • Latest Return filed

  • In case of purchase of foreign securities under ADR/GDR linked option schemes in the knowledge based sectors: CA certificate stating that the purchase consideration does not exceed USD 50,000 or its equivalent per employee in a block of 5 calendar years.

  • Declaration in case investments under PIS

  • Individual is not subscribing to MOA

  • Investment is not going for incorporation of new company

  • Individual should not hold majority shares

  • Individual should not have any management control

  • Investee company is an operating company and not engaged in real estate business or banking business or in the business of financial services activity

Remarks

  • Additional documents may be required to process the request

PURCHASE OF IMMOVABLE PROPERTY

-PURCHASE OF IMMOVABLE PROPERTY

Acquisition or transfer of immovable property outside India by a person resident in India.

Eligibility

All Resident individuals holding account with YES Bank

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

  • In case you do not have an account with the Bank for 1 year, provide any one of the below

    • Other bank account statement for previous year

    • Income Tax Assessment Order

    • Latest Return filed

  • Sales Deed / Agreement copy

Remarks

  • Remittance abroad for purchase of property in India is not permissible under LRS

  • Additional documents may be required to process the request

PAYMENT OF HEALTH INSURANCE

-PAYMENT OF HEALTH INSURANCE

Payment of Health Insurance Premiums by a person resident in India to an Insurance Company outside India

Eligibility

All Resident individuals holding account with YES Bank

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

  • In case you do not have an account with the Bank for 1 year, provide any one of the below

    • Other bank account statement for previous year

    • Income Tax Assessment Order

    • Latest Return filed

  • Certified copy of Debit Note / Invoice from Overseas Insurance Company

Additional Documents

  • Additional documents may be required to process the request

Others

-Others

Others

Eligibility

All Resident individuals holding account with YES Bank

Limit

Within the overall limit of USD 250,000 per Financial Year

Documentation

  • In case you do not have an account with the Bank for 1 year, provide any one of the below

    • Other bank account statement for previous year

    • Latest Return filed

    • Latest Return filed

Additional Documentation

  • Basis your purpose of remittance, additional documentation may be requested to process your transaction. Please contact your Relationship Manager or nearest YES Bank branch.

download app

Android App for YES BANK
App Store for YES BANK
yes pay wallet

Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much more

Read More

Thank you!

Sorry!

There is an error on the Page