Most Common Reasons to Send Money Home

Updated on: 2019-08-25 - 3 mins read
Five Most Common Reasons to Send Money Home Five Most Common Reasons to Send Money Home

India is becoming a preferred location for investors all over the globe. Be it investments on a business setup or on real estate property, India is continuing to hold a top position. With a fast-growing country, it makes complete sense to invest as the returns might be beneficial. Either it is a property which you want to own on your name, payment of your educational loan, setting up a small company or just saving up in your NRI account, you would need to send money to India.

In this article we discuss five most common reasons why everyone wants to make an overseas transaction to India:

1. Clearing up your loan payments

2. Saving to purchase a property

3. Saving for a fixed deposit on a good interest rate

4. Sending money to friends or family in need

5. Paying tuition fees for a child or grandchild

These are the most common reasons, but other reasons are like family emergencies or providing financial support or even giving money for charitable organizations in India. No matter the reason, we need to choose the transaction services and the date of transaction carefully. You can refer to our other article on how to choose the best time for money transfer for more details.