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Find the best ways to send money to India from Malaysia

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Compare 5 providers for a 5,000 MYR transfer from Malaysia to India

Results updated 6 days ago.

For the most up-to-date and accurate results, start a new search

Transfer 5,000 MYR to a bank account
  • Sponsored
    WorldRemit
    7.8
    Over 4 million users
    2 days

    Recipient gets

    • Pay by: Debit card

      88,615 INR

      True cost: 48.57 MYR

Compare 5 providers

Sorted by amount received

  • Best deal
    InstaReM
    8.0
    50 MYR off your first transfer with code MONITO
    In minutes

    Recipient gets

    • Pay by: Direct bank payment

      88,919 INR

      True cost: 31.58 MYR


    Same day

    Recipient gets

    • Pay by: Bank transfer

      88,919 INR

      True cost: 31.58 MYR

  • Wise
    9.5
    Over 120,000 five-star reviews on Trustpilot
    Locked-in exchange rates
    1 day

    Recipient gets

    • Pay by: Bank transfer

      88,771 INR

      True cost: 39.85 MYR

  • WorldRemit
    7.8
    Over 4 million users
    2 days

    Recipient gets

    • Pay by: Debit card

      88,615 INR

      True cost: 48.57 MYR

  • Skrill
    8.4
    Next day

    Recipient gets

    • Pay by: Debit card

      86,066 INR

      True cost: 191.02 MYR

    • Pay by: Credit card

      84,353 INR

      True cost: 286.72 MYR

  • Maybank
    ?
    Not recommended Consistently poor exchange rates, high fees and low customer satisfaction.
    3 to 5 days

    Recipient gets

    • Pay by: Bank transfer

      84,817 INR

      True cost: 260.76 MYR

      Estimated

    Details

We source transfer fees, rates and other data from money transfer providers in different ways - in most cases in real time. We constantly monitor the quality of our comparison data, but we cannot guarantee its accuracy.

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How to send money from Malaysia to India at the best rate?

If the person you're sending money to wants to receive Indian rupees in a bank account in India, then the cheapest option is currently InstaReM, with competitive fees of 20 MYR and a good MYR-INR exchange rate (their current exchange rate is 1 MYR = 17.9044 INR).

The total cost of your transfer with InstaReM is 31.58 MYR, but the total cost of your transfer would be 260.76 MYR (around 8x more expensive) if you were to use Maybank to make the same transaction.

Two other money transfer providers worth considering for your transfer are Wise and WorldRemit.

This recommendation was updated a few minutes ago.

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Monito's Recommendations for Sending Money from Malaysia to India

Today's cheapest money transfer service might not be the cheapest tomorrow. Find the one that's best suited to your needs and preference by comparing the best performers on Monito's comparison engine over the past 30 days for transfers from Malaysia to India:

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Best Ways to Send Money from Malaysia to India

How to Transfer Money to India From Malaysia

If you're sending money from Malaysia to India, you'll have two main options. One will be to go through your bank (which we don't recommend because of the high fees). Another option will be to use an international money transfer service.

1 — How to Transfer Money From Malaysia to India Online

Using an online international money transfer service is the fastest and cheapest way to transfer money from Malaysia to India. There are several top online transfer platforms that offer MYR to INR transfers, including:

In general, money transfer services are the best way to send money abroad not only because they're the cheapest, but also because they're usually the fastest and easiest to use options out there. Find out more about money transfer services here.

2 — Bank Transfers From Malaysia to India

Using your bank — whether it be Maybank, CIMB, UOB, or any other — is indeed a reliable option for sending money from your bank account to a bank account in India. However, it's very expensive and transfers usually take a long time to arrive (between two and five business days). This is because bank transfers go over SWIFT, which involves many steps along the way.

In fact, sending money from Malaysia to India with Maybank, for example, can be around 10% more expensive than making the same transfer with a top money transfer service online. It's for this reason that we generally don't recommend banks to get the job done. Learn more about why online platforms are better than banks for international transfers in our in-depth guide.

4 — Google Pay Malaysia to India

A lot of people wonder whether or not they can use Google Pay to send money from Malaysia to India. Unfortunately, it's not yet possible to send money this way at this time, as Google Pay only supports international money transfers from the US.

Online Money Transfers to India From Malaysia

Would you describe yourself as tech-savvy? Then you'll find online money transfers very handy. The good news is that you could get more Indian rupees for your ringgits by switching to one of the online money transfer providers, for example, WiseSkrillInstarem, or WorldRemit to name a few.

In the 21st century, an online money transfer is the equivalent of wiring money — only it's much cheaper and easier! With online money providers, you can send money via your mobile phone, laptop, or tablet with just a few clicks. There's no need to go to a bank or money transfer physical location. They offer much better MYR-INR exchange rates than banks and low and transparent fees. Compare your options in the list above to find the fastest, best rated, or cheapest option to send money to India. 

Make sure to compare all providers before every transfer from Malaysia to India to get the best MYR-INR exchange rate every time.

The Cheapest Way to Send Money From Malaysia to India

Let's start with the most expensive solutions: banks, cash-based money transfers, and mobile payments apps like Paypal are typically very expensive options when you factor in all fees (which include hidden exchange rate margin fees).

As we mentioned above, the cheapest way to transfer money internationally is to use a specialist money transfer service. They provide much more competitive rates, fees, and commissions than banks or Paypal. Their fees depend on various factors:

  • Pay-in options: Credit card, bank transfer, cash payment, etc.
  • Amount transferred from Malaysia to India: The cheapest operator will not necessarily be the same for a transfer of RM 500 and a transfer of RM 5,000.
  • Transfer speed: Does the money have to be available instantly, or can a beneficiary wait a few days?
  • Pay-out options: Will the money arrive in your beneficiary's bank account, or will they receive it in cash?

A dozen other parameters influence the price of sending money to India. You should check out Monito’s live comparison tool with dozens of services to find the cheapest or fastest one for you!

Fastest Way To Send Money to India From Malaysia

It comes as no surprise that the speed of your transfer depends on the method you choose to send your money from Malaysia to India.

Online money transfer providers are typically the fastest option. For example, Instarem offers transfers that will go to the recipient's account the same day, whereas Skrill and Wise offer transfers that arrive the next business day. 

When comparing the fastest options, always be sure to also compare the exchange rate to check you’re not getting a poor deal. More information about the fastest way to send money abroad can be found in our guide.

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Living in India?

If you are living in India and want to receive money cheaply from your friends and loved ones abroad, then take a look at our in-depth guide here.

FAQ about money transfers to India from Malaysia

Everyone wins, except expensive solutions

With our model, the only losers are the expensive banks or providers you’ll stop using!

To ensure our independence, we always use transparent, objective and verifiable criteria in our comparison. No provider can buy their way to the top of our results.

We include as many providers as possible in our comparison and have partnerships with almost all major and innovative providers.

We make sure you never pay more than if you went directly to the provider of your choice. We even negotiate special offers for you with many of our partners.

  • You save money on your transfer by selecting the cheapest provider.

  • The best providers earn new customers without expensive marketing, helping keep their costs (and prices) low.

  • Monito receives a referral fee from the provider you selected. This enables us to offer our service to you for free.

Questions you may have

Why Trust Monito?

You’re probably all too familiar with the often outrageous cost of sending money abroad. After facing this frustration themselves back in 2013, co-founders François, Laurent, and Pascal launched a real-time comparison engine to compare the best money transfer services across the globe.

Today, Monito’s award-winning comparisons, reviews, and guides are trusted by around 8 million people each year and our recommendations are backed by millions of pricing data points and dozens of expert tests — all allowing you to make the savviest decisions with confidence.

Learn more about Monito
  • Monito is Trusted by 15+ Millions Users across the globe.

  • Monito's experts spend hours researching and testing services

  • Affiliate commissions we may receive never impact our independence

Mid-market exchange rate

To calculate the total cost of your transfer, we compare the exchange rate every provider applies to your transactions with the latest mid-market exchange rate data that we source from XE.

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