India Guide: Money

Our money guide provides information on bank accounts, money exchange, credit and debit cards and money transfers. If you need to open a bank account, we will explain how to do it - step by step.

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  Money in India

  Cash, cards and ATM's

  India's currency is the Rupee (INR), abbreviated Rs. One Rupee is made up of 100 Paise.

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  Indian banks

  Opening a bank account in India

  If you intend to stay in India for a while, you should consider opening an Indian bank account. This will save you fees on international transactions and will make salary payments simpler for your employer. As soon as your FRRO registration in India is done, you can open a bank account.

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  Money transfer

  Transferring money to and from India

  Transferring money to and from India always involves expenses: either in the form of direct charges or due to poor exchange rates. You should arrange money transfers well in advance since they will usually take at least one week.

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  Mortgages

  How to get a mortgage in India

  Mortgages and personal loans are available to foreigners in India: Indian banks have recognized the potential of offering loans to expatriates and now offer special expat packages.

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  Taxes in India

  VAT, corporate income tax and tax incentives

  In 2005, Value Added Tax (VAT) replaced sales tax in India. The standard VAT rate is 12.5%. However, there are still states in India using sales taxation.

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