India · Remittance
See what Indian banks actually charge to send money abroad
Commission, Swift, and GST — itemized line by line at each bank's published exchange rate. No fine print, no footnotes. Just the math on your transfer.
TRANSFER
You pay in INR; recipient receives USD.
Used to determine if this transfer crosses the ₹10L TCS threshold.
Best deal: Indian Overseas Bank. You save ₹3,705.20 vs the most expensive.
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
BREAKDOWN
Outward remittance
Amount being sent $1,000.00 × ₹95.05 | ₹95,050.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹171.09 |
| Total charges | ₹1,056.09 |
| Total payable (INR) | ₹96,106.09 |
- Amount being sent
- ₹95,050.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹171.09
- Total charges
- ₹1,056.09
$1,000.00 × ₹95.05
Total payable (INR)
₹96,106.09
Indian Overseas Bank
₹96,106.09
Cheapest
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹95.05
- ₹95,050.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹171.09
- Total charges
- ₹1,056.09
- Total payable (INR)
- ₹96,106.09
State Bank of India
₹96,611.58
+₹505.49 vs cheapest
TT Selling rate from State Bank of India's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹95.40
- ₹95,400.00
- Branch Commission
- ₹954.00
- Correspondent Bank Charge (Remitter mode)
- ₹85.86
- GST on Amount Exchanged
- ₹171.72
- Total charges
- ₹1,211.58
- Total payable (INR)
- ₹96,611.58
ICICI Bank
₹97,463.00
+₹1,356.91 vs cheapest
TT Selling rate from ICICI Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.11
- ₹96,110.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹173.00
- Total charges
- ₹1,353.00
- Total payable (INR)
- ₹97,463.00
Kotak Mahindra Bank
₹97,753.52
+₹1,647.43 vs cheapest
TT Selling rate from Kotak Mahindra Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.40
- ₹96,400.00
- Outward Remittance Commission (Online)
- ₹500.00
- Correspondent Bank Charge
- ₹500.00
- GST on Commission + Correspondent (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹173.52
- Total charges
- ₹1,353.52
- Total payable (INR)
- ₹97,753.52
HDFC Bank
₹98,024.01
+₹1,917.92 vs cheapest
TT Selling rate from HDFC Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.67
- ₹96,670.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹174.01
- Total charges
- ₹1,354.01
- Total payable (INR)
- ₹98,024.01
Axis Bank
₹99,811.29
+₹3,705.20 vs cheapest
TT Selling rate from Axis Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.41
- ₹96,410.00
- Remittance Commission
- ₹1,000.00
- Correspondent Bank Charge (OUR)
- ₹1,735.38
- GST on Commission + Correspondent (18%)
- ₹492.37
- GST on Amount Exchanged
- ₹173.54
- Total charges
- ₹3,401.29
- Total payable (INR)
- ₹99,811.29
TCS is refundable when you file your ITR — it's a tax credit, not a fee.
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Today's bank forex rates
TT Selling rate per USD — the rate each bank applies when you send money abroad. Every currency, with 90-day trends, on the bank's rate page.
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Background
- Methodology — how the total cost is computed
- Research: Indian remittance fees, 2026
- About