Top 5 Tips To Become A Forex Pro

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Understanding international money transfers, Forex purchases, and dealing with competitive exchange rates can feel like an uphill task. However, fear not. We at Muthoot FinCorp ONE are here to transform you into a Forex expert with our top five tips that will simplify your Forex journey.

Tip 1: Understand The Limitations

The Reserve Bank of India under the Liberalized Remittance Scheme (LRS) has set a cap of USD 2,50,000 in a financial year for international money transfers. Remember, staying within this limit is crucial when engaging in non-trade account transactions such as private visits, business travels, educational expenses abroad, and more.

Tip 2: Simplify Your Forex Experience

Skip the lines and simplify your Forex transactions with Muthoot FinCorp ONE. Now acquiring Forex has never been easier. With us, you can effortlessly apply for a multi-currency Forex card online and have it delivered to your doorstep. Additionally, manage your Forex card by reloading it online or offline, making it a hassle-free experience.

Tip 3: Know The Purposes Approved by RBI

To become a Forex pro, familiarise yourself with the list of purposes authorized by the RBI. The is extensive, ranging from remittances for medical treatment, education abroad, participation in global events, to emigration and visa fees. At Muthoot FinCorp ONE we are dedicated to meeting these various needs, guaranteeing a smooth and hassle-free Forex transaction process aligned with RBI-approved purposes. An understanding of these approved purposes can significantly streamline your Forex requirements.

Tip 4: Secure & Competitive Transactions

At Muthoot FinCorp ONE, we prioritise your security. Our transactions are 100% secure, offering competitive exchange rates that guarantee value for your money. With our services, including 24-hour money transfers and hassle-free processes, we ensure your international money transfers are not just secure but swift too.

Tip 5: Travel Smart With Muthoot FinCorp ONE

With Muthoot FinCorp ONE Forex multi-currency card, you can easily withdraw money from ATMs worldwide and make payments wherever you go. Now get the flexibility and convenience for smoother travels.

Simplify your Forex journey by using Muthoot FinCorp ONE. Remember, understanding the RBI-approved purposes, transaction limits, and leveraging secure and competitive transactions are the keys to becoming a Forex pro.

About Muthoot FinCorp ONE

Muthoot FinCorp ONE is an all-in-one digital financial platform that makes getting an MSME & a Gold Loan, investing in Digital gold & NCDs, making payments & remittances, buying insurance & exchanging forex, simple and convenient.  

As an SBU of Muthoot FinCorp Limited, Muthoot FinCorp ONE is backed by a legacy stretching back over 135 years, and the trust of more than 1 crore customers and is building a holistic financial ecosystem using the latest digital products for lending, investing, protection and payments.  

Muthoot FinCorp ONE continues to uphold the values of the parent, the Muthoot Pappachan Group (Muthoot Blue) by providing its customers with easily accessible services, replete with unmistakable quality. The Muthoot Pappachan Group is among India’s most reputed names in the financial services industry, with customers in diverse segments like Automotive industry, Financial Services, Hospitality, Alternate Energy, Real Estate, and Precious Metals. 

So what are you waiting for? Head to the Play Store and download the Muthoot FinCorp ONE app. You can also visit the website today to know more.   Alternatively, you can also follow us on Facebook, Instagram, Twitter or LinkedIn to stay tuned to our latest offerings. 

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