transfering money in cad or inr (GIC through CIBC)

[Nottanyaverma]

1) Should I transfer money to my CIBC account in INR or CAD?
2) 1 CAD is approx 55.76 INR right now and 10,000 CAD would mean it'll cost me 5,57,590 INR but on the CIBC portal, it's showing 5,78,001 INR. Why?
3) Should I send 10,000 CAD or can I send 200 CAD more? I tried doing that but it stopped converting in INR and switched to USD. why's that happening?

 

[aayushkamboj]

1 transfer the exact amount in rupees that was mentioned in your GIC portal for your application
2 cibc charges service fees for processing gic which is included in your entire amount, hence the discrepency in their exchnage rate and normal exchange rate.
3 please send the exact amount as mentioned in INR and you will get gic within 2-3 wokring days

 

[Nottanyaverma]

1 transfer the exact amount in rupees that was mentioned in your GIC portal for your application
2 cibc charges service fees for processing gic which is included in your entire amount, hence the discrepency in their exchnage rate and normal exchange rate.
3 please send the exact amount as mentioned in INR and you will get gic within 2-3 wokring days

Thanks so much!!!!!!

 

[Nottanyaverma]

1 transfer the exact amount in rupees that was mentioned in your GIC portal for your application
2 cibc charges service fees for processing gic which is included in your entire amount, hence the discrepency in their exchnage rate and normal exchange rate.
3 please send the exact amount as mentioned in INR and you will get gic within 2-3 wokring days

One more thing, under liberalised remittance scheme, should I say yes or no? I paid my tuition fee from my bank account. Should i mention that in the gic form?

 

[aayushkamboj]

yes preferably do mention it to be on a safer
i had mentioned any payment I did in CAD- application fee + tution fees

 

[Nottanyaverma]

yes preferably do mention it to be on a safer
i had mentioned any payment I did in CAD- application fee + tution fees

Okayy thanks!

 

[binnareyn]

CAD is around 57 rupees, when you BUY it in India.
Who offered you the exchange rate of 55.76 for forex?

When you do it n CAD, the total cost is $10150 CAD including program fees.
10150 * 57 = 5,78,000/- approx.

 

[Nottanyaverma]

CAD is around 57 rupees, when you BUY it in India.
Who offered you the exchange rate of 55.76 for forex?

When you do it n CAD, the total cost is $10150 CAD including program fees.
10150 * 57 = 5,78,000/- approx.

My bad
it's 57.9