Sending Money to Kotak Mahindra in India
How to send USD directly to Kotak Mahindra accounts in India. Transfer times, IFSC codes, limits, and how Root delivers INR to any Kotak Mahindra branch.
This guide is for NRIs in the USA sending money to loved ones with Kotak Mahindra Bank accounts in India. Root makes it easy to send USD and have INR credited directly to any Kotak Mahindra branch across India. We cover transfer steps, fees, compliance, and key details like IFSC codes and TCS implications. Whether it's for family support or investments, this guide ensures your remittance is smooth and cost-effective.
Kotak Mahindra Bank is a leading private sector bank in India, widely trusted by urban professionals and NRI families. It offers a range of NRI-linked accounts including NRO, savings, and current accounts. Root currently supports transfers to NRO, savings, and current accounts at Kotak Mahindra, with NRE account support coming soon.
Quick Facts
Transfer Fee
$0 — Root charges zero fees
Exchange Rate
CHECK_LIVE (interbank rate)
Transfer Time
1-4 business days to Kotak Mahindra
Account Types
NRO, Savings, Current accounts at Kotak Mahindra
IFSC Required
Yes — 11-character code for recipient's branch
How to Send — Step by Step
Sign Up on Root
Download the Root app or visit the website and create your account as an NRI in the USA. Verify your identity with your passport, visa, and US address details.
Pro tip: Account verification usually takes under 24 hours.
Start a New Transfer
Select 'Send to India' and enter the amount in USD you'd like to send. Root will show you the estimated INR amount using the live interbank exchange rate.
Enter Recipient Details
Add your recipient’s full name, Kotak Mahindra account number, and mobile number. Ensure the name matches their bank records exactly to avoid delays.
Pro tip: Double-check spelling — a mismatch can delay or block the transfer.
Find the IFSC Code
Enter the 11-character IFSC code of the recipient's Kotak Mahindra branch. You can find it on the Kotak Mahindra website, mobile app, or on the recipient's cheque leaf.
Pro tip: Example: KKBK0000261 is a valid Kotak Mahindra IFSC. Always verify the last six characters represent the specific branch.
Review and Confirm
Review the USD amount, exchange rate, and final INR credit amount. Confirm the transfer — Root locks in the rate for 24 hours once initiated.
Track and Notify
Root provides real-time tracking. Once processed, INR is sent to Kotak Mahindra and typically credited within 1-4 business days. Notify your recipient to expect the funds.
Send Money to Kotak Mahindra with Root
Zero fees, interbank rate. INR credited directly to any Kotak Mahindra account.
Send with RootFrequently Asked Questions
Can I send money to any Kotak Mahindra Bank branch in India?
Yes, you can send money to over 1,800 Kotak Mahindra branches across India as long as you have the correct 11-digit IFSC code for the recipient’s specific branch.
How long does it take for funds to reach a Kotak Mahindra account?
Transfers via Root are typically credited to Kotak Mahindra accounts within 1 to 4 business days, with 90% of transfers completing within 48 hours.
Is TCS applicable when sending over $8,400 to a Kotak Mahindra account?
Yes, if the total remittances to India exceed ₹7,00,000 (~$8,400) in a financial year, 5% TCS is collected at source under LRS rules as per government regulations from October 2023.
Do I need my recipient’s PAN for large transfers to Kotak Mahindra?
Yes, for transfers over ₹50,000 per transaction or cumulative transfers over ₹2.5 lakh in a month, Kotak Mahindra may require the recipient’s PAN for regulatory compliance.
Are NRE accounts at Kotak Mahindra supported on Root?
Currently, Root supports NRO, savings, and current accounts at Kotak Mahindra. Support for NRE accounts is under development and expected soon.