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How to send money to Malaysia from India with the best INR-MYR rate

Compare the best ways to send money from India to Malaysia. Find the cheapest, fastest, and most reliable providers with the best INR to MYR exchange rates.

Explore the best deals, read expert information, and discover all you need to send money to Malaysia from India.

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July 25th, 2025
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Best money transfer companies

Send money from India to Malaysia

Last updated: Today
Mid-market rate as of 07/25/2025: 1 INR = 0.048748 MYR
Results below are based on a 600000 INR search
0 of 2 providers
Sponsored
Wise
Recipient gets (MYR)
RM 28,878.90
Full transfer details
Visit Wise
RM 508 better than a typical bank*

"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Personal account manager
Multi-currency card
Receive to bank account
Dedicated support for large transfers
Sponsored
OFX
Recipient gets (MYR)
RM 28,553.40
Full transfer details
Visit OFX
RM 182 better than a typical bank*

"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."

Personal account manager
Multi-currency card
Receive to bank account
Live Rates
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1
Wise
Recipient gets (MYR)
RM 28,878.90
Full transfer details
Visit Wise
RM 508 better than a typical bank*

"Over 16 million customers use Wise, mostly for their excellent mobile app, transparent fee structure & use of mid-market rates. Now increasingly used for larger transfers."

Personal account manager
Multi-currency card
Receive to bank account
Dedicated support for large transfers
2
OFX
Recipient gets (MYR)
RM 28,553.40
Full transfer details
Visit OFX
RM 182 better than a typical bank*

"OFX have been helping individuals and businesses send money for over 25 years. Transfer in 50+ currencies to 170+ countries, with 24/7 phone access to currency experts."

Personal account manager
Multi-currency card
Receive to bank account
Mid-market rate updates every 60 minutes

Best recommended: Wise

Wise is our top pick for sending Indian Rupee to Malaysia.

Of the 2 money transfer providers tested and reviewed, Wise scored highly for its competitive rates and fees.

For example, sending 600,000 INR to MYR will cost you ₹7566.14 in fees, and you will receive 28,878.9 MYR.

Make your India to Malaysia transfer using Wise for the best mix of cost and speed.

Wise is the top rated company for sending money from India (INR) to Malaysia (MYR) - Wise Screenshot

How to get the best deal on sending money from India to Malaysia

Summary of recent searches

Top rated for transfers from India to Malaysia
Wise
Total number of IN - MY providers
2
Average cheapest fees & rate
Wise
Average fastest transfer
OFX
Average transfer time
Within minutes
Best for bank transfers
Wise

Considerations for money transfers from India to Malaysia

1
Compare providers

Comparing providers offering services between India and Malaysia, based on your specific needs is the best way to send money with confidence.

Our comparison includes 2 companies that provide the ability to send Indian Rupee to Malaysia.

This ensures you get the best options for transfers to Malaysia from India, based on the amount you want to send.

2
Watch the Indian Rupee-Malaysian Ringgit exchange rate
3
Choose the right payment method
4
Use providers regulated in Malaysia and India
5
Consider transfer limits
6
Receiving money in Malaysia
7
Have your ID ready
8
Tax declarations

Cheapest way to transfer money from India to Malaysia: Wise

Wise offers the lowest cost transfers between India and Malaysia out of the 2 providers compared.

Our data shows Wise is 1.13% cheaper than the second-best option. The company offers a fee of 7566.14 INR and an exchange rate between INR and MYR that is 0.1% different to the mid-market rate.

For a cheap way to send INR to Malaysia, Wise is a great all round choice.

Wise is the cheapest way to send money from India (INR) to Malaysia (MYR) - Wise Screenshot

Fastest money transfers from India to Malaysia: OFX.

Of the 2 money transfer companies tested, OFX offered the quickest way to send Indian Rupees to Malaysia.

Based on our recent data, transfer time for a ₹600,000 transfer to Malaysia with OFX is minutes - 24 hours. This can vary by amount and method, but it is a good point of reference.

Sending money from India to Malaysia through OFX will cost you 0 INR in fees & small markup.

OFX was one of 2 money transfer providers we compared for overall speed of sending money from India to Malaysia. This speed test included depositing Indian Rupees to an account and the average timeframe for sending money to Malaysia.

When fast transfers are a priority, OFX is our best choice for sending from India to Malaysia.

OFX is the fastest way to send money from India (INR) to Malaysia (MYR) - OFX Screenshot

Send large sums of money

Transferring bigger amounts of money to Malaysia from India needs a strong exchange rate and effective management of the transfer.

From the
2 options we compared, Wise offers the strongest all round option for large transfers to Malaysia from India.

Whatever the reason, sending large sums of money can be expensive if you get a bad exchange rate from Malaysian Ringgits to Malaysian Ringgit.

As such, we recommend Wise for large transfers between Malaysia and India.

Understanding the cost of transferring money to Malaysia from India

Fees and exchange rates make up the total cost of sending money from Malaysia to Malaysia. Finding a company that can offer both ensures a good deal on your transfer.

The Mid-Market and Exchange Rates: The current INR-MYR mid-market rate is 0.0488 MYR per Indian Rupee. You will get more Malaysian Ringgit for your Indian Rupees if you find a provider close to this number.

  • For context, over the last 7 days the INR-MYR mid-market rate has had a high of 0.0493, a low of 0.0487 and averaged 0.0491 MYR per Indian Rupee.

  • Across the 2 companies compared, the best exchange rate is with Wise.

  • Unless fees are unusually high, the exchange rate you receive on converting INR to MYR will be the biggest determining factor when working out the cost of transferring Indian Rupees to Malaysia.

Fees: Transfer fees are charged as part of the transfer. Wise charges the lowest fee of 7566.14 INR at the moment. We’d always recommend comparing providers for your exact send amount as fees may change.

Amount Received: Money transfer companies will show you the amount of Malaysian Ringgit eventually received in Malaysia. You can assume that a lower cost of sending from India will result in more money received in Malaysia.

Getting the best exchange rate for Indian Rupee to Malaysian Ringgit

Tracking the mid-market rate can make a huge difference when sending money INR to MYR. The exchange rate you secure impacts how much MYR you get for your INR.

Mid-market Rate
1 
INR
=
0.048800 
MYR

Here's some data on recent trends in the mid-market rate.

  • Over the past 7 days, the interbank rate from INR to MYR has seen some fluctuation. On average, it has been 0.0491.

  • During this period, the highest value level was 0.0493, with a low of 0.0487.

  • Wise, which is our recommended service to send money online from India to Malaysia offers an exchange rate that is only 0.1% above the mid-market rate.

Want to secure the best INR-Malaysian Ringgit exchange rates?

Sign up for our rate alerts and we'll tell you when it's the best time to move your money from India to Malaysia!

Payment options for transfers from India to
Malaysia

  • Bank transfers

    Bank transfers are often the fastest and cheapest way to send money from India to Malaysia.

    Using a money transfer company such as Wise for payments from India to Malaysia, means you can send via a bank transfer and benefit from lower fees and more favorable exchange rates than you would get with a traditional bank. 


    Wise is the best money transfer provider for bank transfers of the 2 we compared when sending INR to Malaysia.

    With a fee of 7566.14 INR to transfer money from India to Malaysia, Wise offers a great combination of competitive exchange rates and lower fees.


  • Prepaid and debit cards

    Sending money with a debit card from India to Malaysia is easy with .


    is a leader in debit card money transfers from India to Malaysia. They are the best option of the 2 transfer companies compared.

  • Credit cards

    When it comes to credit card transfers from India to Malaysia, we recommend comparing your options to get the best deal.

    Fee alert: using a credit card to transfer money internationally often results in a fee being charged by your card issuer. That's why we recommend bank transfer or debit card instead.

How we analyze the market

We track the cost, speed, and product offerings of the leading money transfer services available between Malaysia and India.


Our comparison engine and algorithms evaluate providers based on over 25 factors, including transfer fees, ease of use, exchange rates, mobile apps, transfer times & customer support.

We also consider how these services are rated on platforms like TrustPilot, AppStore, and Google Play, giving you a comprehensive view of what to expect.

This thorough analysis helps you get the best available deal - every time you want to move money from India to Malaysia.


We also provide unbiased and detailed reviews of all the top money transfer companies. You can use these reviews to send INR to MYR.


For a deeper understanding of our commitment to integrity and transparency, we invite you to read our editorial policy document.

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Contributors

Keith Hodges
Keith is an experienced Content Specialist with a rich background in both marketing and journalism within the financial sector. At MoneyTransfers.com, Keith plays a pivotal role in driving the business forward and broadening its reach in various international money transfer markets. His expertise is a key factor in the company's expansion and success.
Luke Eales
Luke is the founder and CEO of MoneyTransfers.com, with over 10 years’ experience building consumer products across finance, insurance, and travel. A frequent traveler himself, Luke has hands-on experience testing payment and transfer services globally, giving him a unique perspective on the real-world challenges users face. Luke focuses on the payments sector and foreign exchange markets, as well as personal finance more broadly.
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