Send Money to India from Canada 2025 — Best Rates

Canada to India is one of the world's busiest remittance corridors. Here's how to get the best CAD to INR exchange rate and pay the lowest possible fees.

Best Services for Canada to India Transfers

ServiceFee (on $1,000 CAD)Exchange RateSpeedDelivery Method
Remitly EconomyFree–$3.99Very competitive3–5 daysBank deposit
Wise~$6–$10Mid-market1–2 daysBank deposit
Western Union~$5–$15~1.5% markupMinutes–3 daysBank / Cash pickup
RemitbeeFree first 3Competitive1–2 daysBank deposit
TD Bank Wire$503–4% markup2–4 daysBank deposit
PhonePe (via partner)VariesGoodFastBank / Wallet
Best Pick: Remitly Economy gives the best rates for non-urgent transfers. Wise is best if you want the fastest delivery at a fair price. Both beat the Big 5 banks by 3–5% on the exchange rate.

How to Send Money to India from Canada — Step by Step

  1. Choose a service (Remitly or Wise recommended)
  2. Create a free account and verify your identity
  3. Enter recipient's name and Indian bank details (account number + IFSC code)
  4. Enter the amount in CAD
  5. Fund the transfer via bank account, debit card, or Interac e-Transfer
  6. Confirm — your recipient gets INR in their bank account

What You Need to Send Money to India

CAD to INR Exchange Rate Tips

The CAD/INR exchange rate fluctuates daily. In 2025, 1 CAD is approximately 61–65 INR. Banks typically offer 2–4 INR less per CAD than the market rate — on a $1,000 transfer that's $2,000–$4,000 INR lost to rate markups alone.

Use Wise's rate calculator or Remitly's comparison tool to see the real rate before you commit.

Tax Considerations

Sending money to family in India is not taxable in Canada. However, if you're sending for investment purposes (buying property in India, etc.), you may have reporting obligations. The lifetime limit for NRIs receiving gifts from foreign relatives has been eliminated in India — there's no Indian tax on money received from abroad by blood relatives.

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Frequently Asked Questions

What is the best app to send money to India from Canada?

Remitly is the top choice for most Canada-to-India transfers — it has very competitive INR rates and often runs promotions for first-time senders. Wise is a close second, especially for speed.

How long does it take to send money from Canada to India?

Remitly Economy takes 3–5 business days. Remitly Express and Wise take 1–2 days. Wire transfers via Canadian banks take 2–4 business days.

What is IFSC code and where do I find it?

IFSC (Indian Financial System Code) is an 11-character code identifying a specific bank branch in India. You can find it on your recipient's Indian bank cheque, passbook, or by looking it up on the Reserve Bank of India website.

Is there a limit on how much I can send to India from Canada?

Remitly allows up to $100 CAD per transfer for verified accounts. Wise and bank wires can handle much higher amounts. India's RBI allows unlimited inward remittances.

Do I need to declare money sent to India?

In Canada, there's no requirement to declare outgoing transfers unless they exceed $100 (which is automatically reported by the financial institution). In India, the recipient may need to account for large foreign transfers depending on the purpose.