How to Send Money from India to Germany for Students (2026)

Sending Money from India to Germany

Indian students studying in Germany need to regularly transfer money — for tuition fees, accommodation deposits, and monthly living expenses. Here's how to do it cheaply.

Best Money Transfer Services: India to Germany

1. Wise — Best Overall

Wise uses the real mid-market exchange rate with a small transparent fee.

• Exchange rate: Mid-market (no markup)
• Fee: ~0.5–1% of transfer amount
• Speed: 1–2 business days
• Best for: Regular transfers, large tuition payments
• INR to EUR: Available corridor

2. Remitly — Best for Speed

• Speed: Express option (same day or next day)
• Fee: Varies — check at time of transfer
• Best for: Urgent transfers when deadline is close
• Note: Economy option is cheaper but slower (3–5 days)

3. Flywire — Best for Tuition Payments

• Specializes in international education payments
• Often partnered with universities in Germany
• Pay in INR, university receives EUR
• Check if your university in Germany accepts Flywire

4. Western Union

• Available in most India cities
• Cash payment options if you don't have a bank account
• Higher fees than Wise/Remitly but widely accessible

5. Your Home Bank International Wire

• Usually the most expensive option (fees of INR 500–2,000+ per transfer)
• Avoid for regular transfers — only use if other options unavailable

Fee Comparison: Sending INR 500,000 to Germany

RBI/LRS Rules for Indian Students Sending Money Abroad

Indian students sending money abroad fall under the Liberalised Remittance Scheme (LRS). Key rules: USD 250,000 per financial year limit, 20% TCS (Tax Collected at Source) on amounts above ₹7 lakh for education (unless loan-funded — then 0.5% TCS), purpose code S0305 for education expenses.

Step-by-Step: Paying Tuition from India to Germany

1. Get your university's payment details: Bank name, SWIFT code, account number, reference (student ID)
2. Check if Flywire is accepted: Log into your university's payment portal
3. Compare rates: Check Wise and Remitly rates on the day of transfer
4. Transfer early: Send 5–7 business days before the deadline
5. Keep the receipt: Save proof of transfer for records and tax purposes
6. Confirm receipt: Follow up with your university to confirm payment credited

Tax on Sending Money from India to Germany

TCS (Tax Collected at Source): 20% TCS applies on LRS remittances above ₹7 lakh in a financial year (for non-education purpose loans). For direct education remittances from own funds: 5% TCS above ₹7 lakh. For education loan from approved financial institution: 0.5% TCS. This is not an additional tax — you can claim it as credit when filing your ITR.