Updates:Immigo Welcomes Vaccinated Residents for Travel as of Oct 02, 2021... Read More
Updates:Immigo Welcomes Vaccinated Residents for Travel as of Oct 02, 2021... Read More
“A Guide to Making Tuition Fee Payments at International Universities: Hassle-Free Solutions for Students”
Many students have the desire of attending world-class universities while studying overseas. What once seemed like a challenging endeavour is now easier than ever thanks to rising globalisation. But the cost has also increased. Furthermore, there are other significant costs you will have to pay besides the tuition. In addition, you’ll need to cover other common expenses like lodging and food. With digitalization advancing quickly, paying for education abroad from India can be done in a number of ways. Learn about the expenses and methods of paying international university tuition from India by reading on.
For external payments, TCS (withholding tax) applies. If you send more than 7 lakh rupees, a 5% TCS fee will be deducted provided you provide your PAN details. If you do not provide PAN details, 10% TCS will be charged. If you transfer money to a bank to repay a loan, 0.5% TCS will be deducted.
Nostro Fees: A Nostro account is a bank account maintained by an Indian bank abroad to facilitate transactions. Most banks abroad maintain a nostro account in several currencies. Therefore, Nostro banks charge fees to facilitate transactions. The fees vary depending on the bank.
GST: Banks charge GST on transactions based on the transaction amount.If the amount remitted is less than Rs 1 lakh, GST will be charged at 18% or a minimum of Rs 45. If you send an amount over 1 lakh rupees but less than 10 lakh rupees, you will be charged 180 rupees and 9%. from gross. If you send more than Rs 10,00,000, you will be charged Rs 990 and 0.1% of the gross amount.
We’ve teamed up with Flywire, Thomas Cook, ICICI Bank, RBL Bank and Axis bank to make it easy for you to set up your money transfer. Our forex team bargains special transfer rates for you and assist you in streamline the funds transfer process.
Credit Cards: Cards issued by financial institutions that allow users to borrow money up to a certain limit for making purchases.
Debit Cards: Linked to a bank account, and funds are directly debited from the account when a purchase is made.
Online Banking: Electronic funds transfer between bank accounts using online banking platforms.
Bank Transfers: Direct transfer of funds from one bank account to another, either online or in person.
Cheques: A written order from an account holder, instructing the bank to pay a specific amount to a person or entity.
Money Orders: A payment order for a pre-specified amount of money, often used for secure payments.
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Online Banking Transfer:
Wire Transfer:
Credit Card Payment:
Payment through Student Portals:
Payment Deadlines:
Processing Time:
Payment Confirmation:
Check with the University:
Consider International Transactions: