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Remittances |
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SBI offers remittances to India through multiple channels. Our remittance products are customized to suit your needs. You can select the mode of remittance based on the time within which you need to remit to India.
For information on remittances from US, UK, Canada and Middle East use the right navigation links.
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The following table lists the generic remittance options for other countries as well.
| Mode of Remittance |
Normal Time Taken |
| Instant Transfer |
Instantaneously |
| Online remittance |
1 to 5 days depending on the mode of online remittance chosen |
| Speed remittance (SBI EXPRESS) |
Within 1 day |
| SWIFT |
1 to 3 days |
| Draft / Cashier's Cheque / International MO |
7 days to 28 days |
| Foreign Currency Cheque |
7 days to 28 days |
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More Information on Remittances:
Instant Transfer
Online Remittances
Speed Remittance (SBI Express)
SWIFT / Wire Transfer
Draft / Cashier's Cheques
Foreign Currency Cheques
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Instant Transfer:
"Instant Transfer is a real time rupee remittance facility from SBI Foreign Offices in 17* countries across the world to your / beneficiary's account maintained with SBI in India at any of the over 19,000 Core Banking Branches of SBI and Associate Banks, as also to over 65,000 NEFT/ RTGS enabled branches of other banks in India."
* Australia, Bahrain, Belgium, Canada, China, France, Hong Kong, Israel, Japan, Maldives, Mauritius, Nepal, Oman, Singapore, South Africa, UK and USA.
- By far the Fastest way to send remittance
- Attractive Exchange Rates and low remittance charges
- Facility also available to non-account holders (of our foreign branches) at certain centres
Charges for ‘Instant Transfer’ vary at different branches. Branches in some countries may offer the facility at concessional rates to their account holders. Please contact our branch in your Country to know the schedule of charges of ‘Instant Transfer’ for you.
Foreign branches offering Instant Transfer |
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Online Remittances |
SBI EXPRESS REMIT UK
- An online service to remit money from your UK Bank account to the beneficiary in India.
- Only one-time Registration on https://remit.onlinesbi.com
- Uses the CIP (Customer Initiated Payments) mode to directly transfer money from remitter's UK bank account to beneficiary's account in India.
- No need for any branch visits or paperwork. Remittance instructions can be posted 24 X 7.
- Online Tracking of remittance request through every stage of the transaction.
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Charges *
Given below is the present charges structure for all the GBP remittances sent through SBI Express Remit UK.
| GBP amount |
Fee for Direct Credit |
Fee for Draft Issue & Courier |
NEFT/ RTGS |
| 50 – 500 |
No charges |
Rs. 100 |
Rs. 100 |
| Above 500 |
No charges |
No charges |
No charges |
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* Foreign Currency Conversion charges of Rs.25/- levied on every remittance.
* Service Tax for conversion of Foreign Currency to Indian Currency or vice-versa is payable to the Government of India, Ministry of Finance. The service tax rates with effect from 1st April, 2012 are as follows:
- 0.12% of the gross amount of currency exchanged for an amount of Rs 1,00,000, subject to minimum of Rs 30/-; and
- Rs 120 and 0.06% of the gross amount of currency exchanged for an amount of rupees exceeding 1,00,000 and up to 10,00,000; and
- Rs 660 and 0.012% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000; subject to a maximum amount of Rs 6,000.
* Education cess @ 3% on service tax is also applicable for every transaction.
* The above charges structure is subject to change. |
SBI EXPRESS REMIT CANADA
Send money online from Canada to India from the comfort of your home or office.
- Transfer funds from your existing bank account (of any bank) in Canada to an account in SBI in India, through the Canadian Automated Clearing Settlement System (ACSS)
- Facility available only for credits to beneficiary accounts in State Bank of India in India
- Online tracking of remittance request through every stage of the transaction
- Log on to https://remit.onlinesbi.com and select Canada as the region
- You can remit up to CAD 10,000 through a single transaction to an account with SBI
- Minimum amount of remittance is CAD 50
- Money is received and processed in 3 working days
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Charges *:
There are no charges for crediting remittance.
* Foreign Currency Conversion charges of Rs.25/- levied on every remittance.
* Service Tax for conversion of Foreign Currency to Indian Currency or vice-versa is payable to the Government of India, Ministry of Finance. The service tax rates with effect from 1st April, 2012 are as follows:
- 0.12% of the gross amount of currency exchanged for an amount of Rs 1,00,000, subject to minimum of Rs 30/-; an
- Rs 120 and 0.06% of the gross amount of currency exchanged for an amount of rupees exceeding 1,00,000 and up to 10,00,000; and
- Rs 660 and 0.012% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000; subject to a maximum amount of Rs 6,000.
* Education cess @ 3% on service tax is also applicable for every transaction.
* The above charges structure is subject to change. |
SBI EXPRESS WORLDWIDE
It is a web-assisted remittance service, to remit money to beneficiary accounts in India from number of countries across the world using CIP (Customer Initiated Payments) mode of money transfer. Remittances can be sent in any of the below mentioned 39 currencies from across the world.
- Log on to https://remit.onlinesbi.com/glsww/
- Online tracking of remittance request through every stage of the transaction
- You can remit money in your local currency up to equivalent of USD 10,000 through a single transaction to an account with SBI
- In case of accounts with other banks, you can remit in your local currency up to equivalent of USD 5,000 through a single transaction
- Minimum amount of remittance in your local currency is an equivalent of USD 50
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Charges *
Given below is the present charges structure :
| Remittance Amount |
Fee for Direct Credit |
Fee for Credit to other Banks |
| Up to equivalent of USD 500 |
No charges |
Rs. 6 |
| Above equivalent of USD 500 |
No charges |
No charges |
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* Foreign Currency Conversion charges of Rs.25/- levied on every remittance.
* Service Tax for conversion of Foreign Currency to Indian Currency or vice-versa is payable to the Government of India, Ministry of Finance. The service tax rates with effect from 1st April, 2012 are as follows:
- 0.12% of the gross amount of currency exchanged for an amount of Rs 1,00,000, subject to minimum of Rs 30/-; and
- Rs 120 and 0.06% of the gross amount of currency exchanged for an amount of rupees exceeding 1,00,000 and up to 10,00,000; and
- Rs 660 and 0.012% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000; subject to a maximum amount of Rs 6,000
* Education cess @ 3% on service tax is also applicable for every transaction.
* The above charges structure is subject to change.
| List of acceptable currencies |
| AED |
United Arab Emirates Dirham |
KWD |
Kuwaiti Dinar |
| AUD |
Australian Dollar |
LTL |
Lithuanian Litas |
| BGN |
Bulgarian Lev |
LVL |
Latvian Lats |
| BHD |
Bahraini Dinar |
MAD |
Moroccan Dirham |
| CHF |
Swiss Franc |
MUR |
Mauritius Rupee |
| CZK |
Czech Republic Koruna |
MXN |
Mexican Peso |
| DKK |
Danish Krone |
NOK |
Norwegian Krone |
| DZD |
Algerian Dinar |
NZD |
New Zealand Dollar |
| EEK |
Estonian Krron |
OMR |
Omani Rial |
| EGP |
Egyptian Pound |
PLN |
Polish Zloty |
| EUR |
Euro |
QAR |
Qatari Rial |
| GBP |
Great Britain Pound |
RON |
Romanian Leu |
| HKD |
Hong Kong Dollar |
SAR |
Saudi Arabian Riyal |
| HRK |
Croatian Kuna |
SEK |
Swedish Krona |
| HUF |
Hungarian Forint |
SGD |
Singaporean Dollar |
| ILS |
Israeli Shekel |
THB |
Thai Baht |
| ISK |
Icelandic Krona |
TND |
Tunisian Dinar |
| JOD |
Jordanian Dinar |
TRY |
Turkish New Lira |
| JPY |
Japanese Yen |
ZAR |
South African Rand |
| KES |
Kenyan Shilling |
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Speed Remittance (SBI Express):
SBI Express enables NRIs to send rupee remittances to India through Exchange Houses / Banks / our branches in Bahrain, Kuwait, Oman, Qatar, Saudi Arabia and UAE. The beneficiary in India can receive the remittance through any one of the following options:
- Credit to his / her account held in any of over 13,000 SBI branches within 24 hours, and over 60,000 NEFT/ RTGS enabled branches of other banks in India by the end of the next working day.
- For other beneficiaries, draft will be couriered by the next working day.
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Countries and entities offering SBI Express service:
| Country |
Name |
Telephone |
| Bahrain |
| Bahrain Financing Co. |
+973 17228888 |
| Bahrain India International Exchange Co. |
+973 36493695 |
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| Kuwait |
| Al Mulla International Exchange Co. |
+965 22478250 |
| Al Muzaini Exchange Co. |
+965 2417604 |
| Bahrain Exchange Co. |
+965 1824000 |
| Kuwait India International Exchange Co. |
+965 22422688 |
| UAE Exchange Centre, Kuwait |
+965 22459417 |
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| Oman |
| Global Money Exchange |
+968 24703566 |
| Mustafa Sultan Exchange Co. |
+968 24707025 |
| Oman & UAE Exchange Centre |
+968 24796533 |
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| Qatar |
| Doha Bank |
+974 44456941 |
| Trust Exchange Co. |
+974 4312320 |
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| Saudi Arabia |
| Al Rajhi Banking & Investment Corporation |
+966 1 2114495
+966 1 2795769 |
| Arab National Bank |
+966 1 4029000
(ext. 7501) |
| The National Commercial Bank |
+966 2 6462800 |
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| UAE |
| Al Ahalia Exchange Co. |
+971 2 6269329 |
| Al Ansari Exchange Co. |
+971 2 6108717 |
| Al Fardan Exchange Co. |
+971 2 6223222 |
| Al Rostamani International Exchange |
+971 4 6098135 |
| Asia Exchange Centre |
+971 4 2299329 |
| City Exchange |
+971 4 3937868 |
| Emirates India International Exchange |
+971 4 2247088 |
| Lulu International Exchange L.L.C. |
+971 2 6547000 |
| Orient Exchange Co. |
+971 4 2267339
+971 4 2267994 |
| UAE Exchange Centre |
+971 2 4945402 |
| Wall Street Exchange Centre |
+971 4 2284889 |
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SBI EXPRESS RUPEE INSTANT (FLASH):
It enables you to instantly transfer money through any of our select associated Exchange Companies in Middle East to your beneficiary’s account in SBI in India. This service is currently only available for direct credit to beneficiary accounts in SBI branches in India. |
Countries and entities offering SBI Express Rupee Instant service:
| Country |
Name |
Telephone |
| Kuwait |
| Al Mulla International Exchange Co. K.S.C.C |
+965 22463221 |
| Al Muzaini Exchange Co. K.S.C.C |
+965 22902220 / 1 / 2 |
| Kuwait India International Exchange Co. |
+965 22422688 |
| UAE Exchange Company W.L.L. |
+965 22459417 / 18 |
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| Oman |
| Mustafa Sultan Exchange Co. LLC |
+968 24707025 / 24706519 |
| Global Money Exchange Co. LLC |
+968 24703566 |
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| Qatar |
| Trust Exchange Co. W.L.L. |
+974 55560190 / 44352055 |
| Al Ansari Exchange, Abu Dhabi |
+971 26108888 |
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| UAE |
| Lulu International Exchange LLC, Abu Dhabi |
+971 26547000 |
| UAE Exchange Centre LLC, Abu Dhabi |
+971 43535350 |
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SWIFT / Wire Transfer:
International Remittance Centre (IRC)
The IRC speeds up the payment / processing of all personal retail forex inward remittances received through SWIFT MT 103. The remittance up to USD 10,000 or equivalent for personal/Individual customers can be credited to the beneficiary's account directly. For INR remittances there is no upper limit cap for personal/Individual customers.
Features
- Beneficiary's account is credited through Core Banking within 1 business day of receipt of message.
- Facilitates remittances from anywhere in the world to any part in India.
- Other Banks' beneficiaries (having CBS account numbers) whose remittances are routed through SBI get credited through NEFT / RTGS / by latest next working day.
- Remittance tracking facility through dedicated helpline.
- Rs. 25/- per transaction is charged on the proceeds.
- Service Tax for conversion of Foreign Currency to Indian Currency or vice-versa is payable to the Government of India, Ministry of Finance. The service tax rates with effect from 1st April, 2012 are as follows:
- 0.12% of the gross amount of currency exchanged for an amount of Rs 1,00,000, subject to minimum of Rs 30/-; and
- Rs 120 and 0.06% of the gross amount of currency exchanged for an amount of rupees exceeding 1,00,000 and up to 10,00,000; and
- Rs 660 and 0.012% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000; subject to a maximum amount of Rs 6,000.
- Education cess @ 3% on service tax is also applicable for every transaction
Check points for remitters for speedy delivery
Remitters to provide the following information to their Bankers while sending remittance, for incorporating in the SWIFT messages
- Quote SWIFT of State Bank of India, IRC as SBININBBFXD .Otherwise kindly quote the nearest SWIFT link branch of the beneficiary branch.
- Core Banking account number of the beneficiary (11 digits only with initial digit as non zero).
- Full name and complete address of beneficiary. (Mobile number optional).
- SBI Brach Code / IFSC Code.
- For other banks beneficiary existing CBS account number, bank and branch name, IFSC Code.
- Full name, address and account number of the remitter.
- Purpose of remittance.
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For payments originating from EURO region to India
- IBAN field is mandatory when the remittance is ordered from EURO region either through online mode or over the counter.
- Please quote the CBS a/c no. only of the beneficiaries in IBAN field and avoid prefixing or suffixing SWIFT / IFSC Code etc.
NRIs can send remittances to India using SBI's foreign branches or a vast network of 490 correspondent banks across the globe. The remittance can be sent to the beneficiary's branch directly if it is a SWIFT linked branch. Please click on the following link to view the list of swift enabled branches with the SWIFT BIC code. Else, an NRI can select a SWIFT linked branch located close to the beneficiary's home town, which will handle the SWIFT transaction and transfer the funds to your beneficiary's account.
The following is a template of the SWIFT transfer instruction form, which an NRI can submit at his local bank.
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| Field 56(Intermediary Institution) |
Bank Name:
SWIFT Code: |
(Please refer to the list of correspondent banks to locate a bank and the SWIFT code) |
| Field 57(Beneficiary Bank) |
Bank Name: State Bank of India
Branch:
SWIFT Code: |
(Please refer to the list of SWIFT linked branches to locate a branch and the SWIFT code) |
| Field 59(Beneficiary Customer) |
Beneficiary Name:
Account No:
SBI Branch: |
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| Field 70/72(Remittance information / purpose of remittance) |
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If the remittance is in foreign currency, you need to specify instructions to:
- Convert to Rupees and credit the account
- Get instructions from beneficiary
- Issue FCNR for_____years.
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Correspondent bank accounts
Swift enabled branches in India |
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Draft / Cashier's Cheques:
Cashier's Cheque / International Money Order:
Remittance by cashier's cheque or international money order, works on the same principles as a cheque drawn on a foreign bank.
Draft:
If a remittance is sent as a demand draft, the beneficiary can deposit it at the branch in India, where the NRI or beneficiary holds an account. The draft will be sent to the branch where it is payable. After collection, the proceeds will be deposited in the account. If the remittance amount must be converted to INR, the exchange rate prevalent on the date of conversion will be applied. Collection charges will be as applicable from time to time. |
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Foreign Currency Cheques:
An NRI can deposit personal cheques drawn on a bank abroad in foreign currency and credit the same to his / her account with a branch in India. The cheques are sent to the respective countries for collection and on receipt of funds, the amount is deposited in the NRI's account. Collection period varies depending on the country, local clearing regulations and location of the bank on whom the cheque is drawn. Collection charges are recovered as applicable from time to time. Cheques can be deposited at the branch through messenger or sent to the branch by post / courier. If the cheque is in foreign currency and the credit must be offered in Indian rupees, the exchange rate prevailing on the date of conversion will be applicable. |
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