Travel Money Guide: India

Rates and Fees verified correct on June 24th, 2016

Discover how you can turn your Aussie dollars into rupee to pay your way through India.

Exploring new lands, trying exotic cuisines and soaking in the rich culture is all part of the experience of travelling to India. None of this will be possible though if you don’t organise your travel money options before your trip. To make things easier, use this guide to compare the different travel money options available in India.

Banks and ATMs are widely available in India, even surprisingly so in smaller villages. Much of India's economy, especially its informal economy, is still cash-based. It is vital that you are able to access cash and have cash on you while you travel in India.

This India travel money guide is intended to give you an idea of the most valuable and easiest ways to take, use and spend money in India and help you decide whether to use travel cards, debit cards or credit cards to access your cash while you are there.

Which option is right for your next trip?

Bankwest Zero Platinum MasterCard

Bankwest Zero Platinum MasterCard

$0 foreign transaction fee with a $0 annual fee.

  • $0 p.a. annual fee
  • 17.99% p.a. on purchases
  • 2.99% p.a. for 9 months on balance transfers
  • Cash Advance Rate of 21.99% p.a.
  • Up to 55 days interest free

Compare travel cards for India

Rates last updated June 24th, 2016
Foreign Currency Conversion Fee (MC) Foreign Currency Conversion Fee (VISA) Purchase rate (p.a.) Annual fee
Bankwest Zero Platinum MasterCard
An introductory offer on balance transfers with $0 annual fee. Complimentary travel insurance & 24/7 Concierge service and $0 foreign transaction fees.
0% of transaction value 17.99% p.a. $0 p.a. Go to site More info
Coles Rewards Mastercard
Earn 2 flybuys points for every $1 spent and no foreign transaction fees for online purchases and overseas trips.
0% of transaction value 19.99% p.a. $89 p.a. Go to site More info
28 Degrees Platinum MasterCard
Benefit from no international transaction fees on purchases, no currency conversion fees and no annual fee. Also enjoy a limited time offer of two waived cash advance fees.
0% of transaction value 21.99% p.a. $0 p.a. Go to site More info
Bankwest Qantas Platinum MasterCard
Earn 8,000 Bonus Qantas Points. Included travel and accident insurance and payment protection. No foreign transaction fees on online or overseas spend.
0% of transaction value 20.49% p.a. $160 p.a. Go to site More info
Bankwest Qantas Gold MasterCard
Earn more points with the Qantas Frequent Flyer rewards program when you make eligible purchases and also get the chance to receive 4,000 bonus Qantas Points when you sign up, plus stay protected with a comprehensive travel insurance.
2.95% of transaction value 20.49% p.a. $150 p.a. Go to site More info
Bankwest More Platinum Mastercard
$0 foreign transaction fees and complimentary insurance cover.
0% of transaction value 19.99% p.a. $130 p.a. Go to site More info
Coles Rewards Platinum Mastercard
Earn 2 flybuys points for every $1 spent and no foreign transaction fees for online purchases and overseas trips, plus 62 interest-free days on purchases.
0% of transaction value 19.99% p.a. $89 p.a. Go to site More info
Rates last updated June 24th, 2016
$
Monthly Account Fee Debit Card Access ATM Withdrawal Fee Fee Free Deposit p.m. Details
Westpac Choice
$0 ATM withdrawal fee at 50,000+ ATMs globally.
Via Westpac's Global ATM Alliance. Get Cash without your debit card (conditions apply).
Mastercard $0 $2,000 No ATM fees when using St.George, Westpac, BankSA or Bank of Melbourne ATMs in Australia. Deposit at least $2,000 per month and enjoy no monthly service fee. Open More
Bankwest Platinum Debit MasterCard
Earn points on your balances and every time you use your debit card. Plus no overseas ATM withdrawal fees
Mastercard $0 $4,000 No overseas ATM fees charged by Bankwest, No monthly account fee when you deposit at least $4,000 per month. Open More
Rates last updated June 24th, 2016
Available Currencies ATM Withdrawal Fee Reload Fee Initial Load Fee
ANZ Travel Card
ANZ Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD, AUD 3.50, CAD 3.00, EUR 2.20, GBP 2.00, HKD 20.00, JPY 260, NZD 4.50, SGD 4.00, THB 95, USD 2.50 1.1% of the value purchased $0 Go to site More
NAB Traveller Card
NAB Traveller Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD $0 per withdrawal on international ATMs and $3.75 per withdrawal at any Australian ATMs $0 $0 Go to site More
Flight Centre Key to the World Currency Card
Flight Centre Key to the World Currency Card
AUD, USD, SGD, NZD, JPY, THB, GBP, EUR, HKD, CAD USD 2.50, EUR 2.50, GBP 2.00, NZD 3.50, THB 80.00, CAD 3.50, HKD 18.00, JPY 260.00, SGD 3.50, AUD 3.50 1.1% of the total amount (up to a maximum of $10) $0 Go to site More
Multi Currency Cash Passport
Multi Currency Cash Passport
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD $0 for International ATM withdrawal and 2.95% of the amount withdrawn in Australia $0 $0 Go to site More
Travelex Travel Card
Travelex Travel Card
AUD, CAD, EUR, GBP, HKD, JPY, NZD, SGD, THB, USD Travelex does not charge an ATM withdrawal fee when you use your Travelex Multi-currency Cash Passport to withdraw currencies that are loaded on the card at overseas ATMs where MasterCard is accepted. The greater of 1.1% of the initial load / reload amount or AU$15.00 $0 Go to site More

How much rupee do I need to bring?

If you’re wondering how much money to take to cater for your holiday, India caters for all tastes and budgets. It depends on the length of your stay and whether you have champagne taste. You can get by on as little as $10 a day, or spend thousands just sleeping. Its up to you.

India like a MaharajaIn betweenIndia like an ascetic
In one of Delhi or Mumbai's famed culinary establishments.
Cost = AU$250.00 for a meal and a glass of wine
A meal in a mid-range restaurant.
Cost = AU$10.00 - AU$20.00
From the street stalls (always make sure it's hot and has just been cooked) or munch a thali in a roadside dhaba.
Cost = 10-50 rupee
(AU$0.20 - AU$2.00)
Travel in luxury with an Indian based tours company marketed towards the high rollers.All inclusive tours include a driver, luxury hotel, meals, and day trips to major tourist destinations.
Cost for a week = AU$2,500.00 and up
Ticket to an exhibition or a show.
Cost = Anywhere from AU$5.00
Even in big cities, museums, parks, temples and attractions are mostly for free. Sit on a ghat or on temple stairs and watch the strange and beautiful world go by.
Cost = AU$0.00 free!
India has a selection of the most luxurious and expensive hotels in the world. Staying in one of these establishments for a night is a luxury reserved for the ultra rich.
Cost = easily AU$10,000.00 for one night
A night in a mid-range hotel.
Cost = AU$20.00 - AU$50.00
In a basic guesthouse away from the hustle and bustle in the mountains, forest, in a small village or an ashram.
Cost = 100-200 rupee (AU$2.00 - AU$4.00 per night)

Exchange rate history

The Indian currency has grown in value relative to the Australian dollar over the past couple of years. In 2006, AUD$1 got you about 30 INR. Today, you’ll get approximately 50 rupee for every dollar. This change represents an appreciation of about half a cent. Future movements of the currency pair are difficult to predict, but even wild fluctuations in the value of INR to AUD shouldn’t affect travellers at all.

YearAverage annual exchange Australian Dollar (AUD) to Indian rupee (INR)
201255.363706
201356.454569
201455.046588
201548.183646
201648.825108
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Travel card debit card or credit card?

There are no travel cards which allow you to load INR, meaning you’ll be charged a currency conversion fee if you use one in India. Instead, you might like to look at debit cards and credit cards which don’t charge for currency conversion. Card payments are accepted in more places than you’d think in India, but India is still largely a cash economy. Reduced fees for ATM withdrawals should be a factor in your comparison.

Travel money for India at a glance

Travel Money OptionProsConsiderations
Debit cards for travel
  • Direct access to your own money
  • Widely accepted
  • Come with PIN security and can be cancelled if your card is lost or stolen
  • No back-up option for lost or stolen cards
  • May charge ATM transaction fee and currency conversion fees
Prepaid travel money cards
  • Comes with a back-up to use, if the card is missing or stolen
  • Not linked to your bank account
  • Reloading money is easy via a secure online portal
  • You can use your travel card to pay directly, or to draw out money from an ATM
  • Indian Rupees cannot be preloaded
  • Some cards charge a fee every time you reload your card
  • Waiting time for your transferred funds to be available to you can sometimes be up to six days.
Credit cards for travel
  • Accepted everywhere
  • Comes with built-in security measures and anti-fraud measures
  • Features such as insurance or reward points earning
  • ATM cash withdrawals may attract cash advances and higher fees
Traveller's cheques
  • Acceptance
  • Security
  • Can be costly with initial purchase charges
  • Not all merchants accept traveller's cheques
Cash
  • Greater payment flexibility
  • Convenience
  • More difficult to manage expenses
  • Higher risk of theft
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How each travel money product works in India

Have a look at the different travel money products suited to use in India and how each product works on the subcontinent.

Using a prepaid travel card

At the time of writing there are no travel cards which allow you to preload Indian Rupees (INR). So you’ll need to find a travel card with no foreign currency conversion fee if you want to use a prepaid card without racking up costs. Travel cards can be a convenient way to take control of your travel budget, withdraw funds and spend over the counter. However, when you factor in the extra fees for loading, reloading and inactivity, there are better travel money options to take to India.

Using a debit card

If you plan to take a debit card to India, you should look for a debit card from a bank with a presence in the country. No Australian bank has partnerships with Indian banks where you can get cheap withdrawals. However, Citibank is an international institution with a presence in both India and Australia. The Citibank Plus Transaction Account is the way to go. Pay no currency conversion fees, no international ATM fees and, if you withdraw from a Citibank ATM in India, you’ll pay no local ATM operator fee either.

  • Tip: Citibank has a large presence in India. You can make cheap ATM withdrawal using a Citibank debit or credit card to withdraw from a Citibank ATM.

Using a credit card

Credit cards are a good option for travel because they are accepted almost everywhere, have excellent security measures and some come with travel insurance (a must when travelling through India) as an included benefit when certain conditions - like paying for flights on the card - are met. A credit card is a good option in addition to one of the other forms of travel money listed in this article.

  • Tip: Bankwest don’t charge their customers for international ATM withdrawals (as well as waive the currency conversion fee on their platinum cards), but don’t withdraw cash on credit. You can avoid paying interest if you have a positive balance on your Bankwest credit card but you can’t avoid the cash advance fee. Read more in the FAQs section of our travel money page.

Travel with peace of mind and compare international travel insurance for India

Using a traveller's cheques

Credit and debit card security measures and wide acceptance have made traveller's cheques redundant.

Paying with cash in India

You should always have some cash on you, ideally some spending money in lower denominations in an easily accessible place, and a larger amount kept separately in a hidden place. This goes without saying if you are trekking, staying in very small villages or are just off the tourist trail. Even in big cities, you will find that many services, attractions and just getting around will require you to use cash.

In big cities, towns and in many villages, banks and exchange offices will happily exchange foreign currency at a reasonable rate, and with a small commission, if any commission at all. Australian dollars are widely accepted, but American dollars tend to be more accepted in small towns and villages.

Be aware of the exchange rate before you change foreign currency to avoid being ripped off. It helps if you can access online rates before you exchange your cash so you can give yourself a rough idea of how much you should get.

  • Tip: Check your bank notes when you receive them as change. Indian rupee notes can get pretty scruffy and ripped, and overly creased or otherwise damaged notes will not be accepted. People love to give them to tourists.
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Jane's Indian sabbatical

Jane spent just under two months travelling throughout India. She started in the north making her way from New Delhi to Uttar Pradesh so she could visit the Taj Mahal and and the city of Varanasi, the spiritual capital of India. She finished her trip relaxing on the beaches of Goa. Her trip took her off the beaten track, through well trod tourist spots and India’s bustling cities.

What cards did you take with you?

Why did you take these cards?

  • Commonwealth Bank. Jane says she wanted a dedicated travel account to use in India, and the Commonwealth Bank travel money card was an obvious option. The card doesn’t charge any fee for currency conversion, and it comes with a backup, so she felt secure she wasn’t going to run out money if her main card was lost or stolen.
  • GE Money. The 28 Degrees Platinum MasterCard charges no fee for currency conversion and has no annual fee. She used this card to pay for larger expenses on her trip such as bookings or flights.

What about using ATMs?

Jane used ATMs inside banks whenever possible. She didn’t have any problems finding and using an ATM with her Australian debit card. She says some machines took up to 1 minute to process the transaction. She says the standard charge was about 200rupee ($4AUD).

Where could and couldn’t you use these cards?

Visa and MasterCard cards will be accepted if the business is setup to handle electronic payments. American Express cards can be used in high end retailers and businesses only.

As far as using her card for day to day payments goes, she says there weren’t any surprises here, if a place doesn’t look like it’s going to accept card payments, it probably isn’t

What’s your travel money recommendation for India?

While Jane says Citibank ATMs can be found in large cities, Citibank don’t have the same number of branches or ATMs as in Australia. Having said this, next time she visits India (and she says she’s already planning), she will use the Citibank Plus Transaction account as her dedicated travel account. While the Commbank was handy, the fuss of getting to an internet cafe to reload every so often was something she could have done without.

What travel money tips do you have for India?

Jane gives the following advice about using money in India.

  • Tricks and scams. Be prepared to pay more because you’re Australian. There are whole industries dedicated to tricking  tourists in India, starting and finishing at the airport when you arrive and leave. Whether it’s a detour to a ‘cousin's’ shop to have a look at his goods when you hop in a taxi, thieves trying to pick pockets or fake tourist bureaus at New Delhi train station and around Connaught Place, jump on blogs and official websites to read up on the latest tourist scams.
  • Bargaining. Compared to locals, tourists are frequently charged higher prices for goods in India. Get used to it. That being said, don't be afraid to bargain. Sellers will never expect you to take the first offer they give. Bargaining is a part of the culture in India so don't be shy, but don't take it too seriously, either. If you can't get the price down to around something you are willing to pay, be courteous, say, "No, thank you" and walk away. Chances are the offer will go even lower. If you agree to a price make sure you are happy with it because once you agree on a price, you're obliged to pay it.
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The Indian currency

The money used in India is called the Indian Rupee (INR). It comes in denominations of 5, 10, 20, 50, 100, 500 and 1,000 notes and 1, 2, 5 and 10 coins. Officially, the Rupee is divided into 100 paise, but usage is rare and since 2011, only the 50 paise coin is used as legal tender.
indian-rupee-banknotes

Buying currency in Australia

If you’re a foreigner, you can’t bring rupee into India with you. There are exceptions if you’re a returning resident, you can carry 7,500 INR (about AUD$150) into the country. There is no restriction to the amount of foreign currency you can bring with you. However, if you’re carrying more than the foreign currency equivalent of US$5,000, you’ll need to declare the cash at customs when you arrive.

Why you need a combination of travel money options

Things can go missing, wallets picked from your pocket and cards can get swallowed up by ATMs, it’s the height of foolishness to only take one way to access your money to India. A debit card and credit card combination will give you the best results, you may also want to bring some Aussie dollars as backup cash — you can get this changed easily enough for a competitive price.

ATMs in India

Atms are widely available in India, and you should have no trouble finding one under reasonable circumstances. Limits vary depending on the machine. You should be able to withdraw up to your local bank’s ATM withdrawal limit. If not, 10,000 Rupee is a standard amount to withdraw ($200 AUD).

  • Tip: There are reports of ATMs snatching back cash if it’s removed from the machine after 30 seconds. If the ATM is slow to respond, don't worry, sometimes it takes a good half minute for an ATM to process the transaction.

Find cash and ATMs in India

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Travel insurance for India

India has enchanted travellers for centuries. From the Taj Mahal to the foot of the Greater Himalayas, there’s so much to experience and see in India.

India presents a unique set of risks to travellers, which is why you must consider is travel insurance. Travel insurance is invaluable travelling companion on your next Indian holiday and protects holiday makes against situations such as:

  • flight delays
  • stolen cash
  • rental vehicle excess
  • overseas medical emergencies
  • lost luggage
  • trip resumption

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India is a country that on one hand nourishes its traditions, and on the other struggles against them. No mistaking it, during the last 20 years India has changed at an alarming rate. It is a country so dense, so stimulating to the senses and impulses that the first visit to India can be shock to even the most road-hardened traveller. Find the right travel money to take to India so you can access your money cheaply and conveniently so you can fully experience the country’s rich tapestry of culture.

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This page was last modified on 23 June 2016 at 12:15.

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6 Responses to Travel Money Guide: India

  1. Default Gravatar
    Fred | December 31, 2015

    Re Axis Bank Indian Travel Card (visa). Is this well accepted in India. Can it be purchased in Australia prior to travel or only on arrival in India?

    • Staff
      Sally | January 4, 2016

      Hi Fred,

      Thanks for your question.

      The Axis Bank Indian Travel Card is an ‘over the counter’ product and can be bought from Axis Bank branches or any of their partner Money Changers against the encashment of Foreign Currency Notes/Traveller’s Cheques in India.

      The card can be used wherever Visa cards are accepted in India.

      I hope this has helped.

      Cheers,

      Sally

  2. Default Gravatar
    Traveller | December 25, 2015

    Hello, which bank in Australia have travel cards that would accept indian rupees?
    Thanks.

    • Staff
      Sally | December 29, 2015

      Hello,

      Thanks for your question.

      Unfortunately, no Australian travel money cards currently accept Indian Rupee. Instead, you’ll want to look for a travel money card that doesn’t charge a currency conversion fee. This way, you can still use Australian Dollars to pay for purchases in India without the cost of currency conversion fees.

      I hope this has helped.

      Cheers,

      Sally

  3. Default Gravatar
    | February 23, 2015

    Which travel card has no foreign currency conversion fees.
    How does CBA rate

    • Staff
      Shirley | February 23, 2015

      Hi Annie,

      Thanks for your question.

      At this current point time in our comparison, all travel money cards currently charge a currency conversion fee.

      The CBA Travel money card, which is currently not in our comparison, doesn’t charge a currency conversion fee.

      Cheers,
      Shirley

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