Axis Bank · India → Saudi Arabia
Axis Bank to Saudi Arabia: what it actually costs to send SAR from India
At ₹1,00,000, Axis Bank charges ₹2,776 — the 5th-cheapest of 5 banks for SAR. State Bank of India is ₹2,596 cheaper.
Last updated 7 Oct 2026
Fee breakdown
- Commission ₹1,000
- Correspondent Charge ₹1,200
- GST Commission ₹396
- GST Exchange ₹180
- Total at ₹1,00,000₹2,776
SAR rate trend at Axis Bank
Today Axis Bank sells SAR at ₹26.5800 (TT Selling) and buys it at ₹25.0000 (TT Buying). The selling rate is +0.2400 (+0.91%) since 30 Sep.
- 30-day TT Selling range: ₹26.2500 – ₹26.5800 across 11 refreshes.
- ₹1,00,000 bought between 3762.23 and 3809.52 SAR over that window, before charges.
What's specific to SAR at Axis Bank
- Correspondent Bank Charge (OUR): flat ₹1,200 for SAR.
Receiving in Saudi Arabia
- Saudi accounts use a 24-character IBAN starting with SA; SAMA requires the IBAN on every incoming wire, so get it exactly as printed by the beneficiary's bank.
- The beneficiary name must match the account exactly — Saudi banks commonly return wires where it does not, rather than correcting them.
- Most Saudi banks do not charge for incoming personal transfers, but an intermediary bank may deduct a fee unless you choose the OUR charge option so an intermediary bank cannot take its fee out of the credited amount.
Saudi Arabia is 2.5 hours behind IST with a Sunday–Thursday working week; a wire sent on a Friday from India will not credit before Sunday.
How this compares
State Bank of India is ₹2,596 cheaper than Axis Bank for sending SAR to Saudi Arabia.
See the full side-by-side →Axis Bank — Things to know
Applies to:Resident Individual, Send Money Abroad via Internet/Mobile Banking or branch, OUR correspondent option.
- Digital waiver removed. The Sep 2026 schedule charges ₹1,000 + GST commission on digital remittances; the earlier online waiver is gone, though many guides and an older Axis PDF still say digital is free.↗
- BEN shifts charges downstream. Choosing BEN removes the correspondent charge from your debit, but correspondent banks deduct their own unpublished charges from what the beneficiary receives.↗
- GST is charged twice. You pay 18% GST on the commission and the correspondent charge, plus a separate slab GST on the amount converted (₹45 minimum, ₹10,800 cap).↗
- TCS on large transfers. For general purposes, 20% TCS applies on LRS spending above ₹10 lakh a year (2% for education and medical) — refundable as a tax credit at ITR time.↗
▸Show 3 more notes
Other things to know
- Assured Pay is branch-only. Guaranteed full-value delivery costs USD 15 on top of OUR charges, is USD-only, and — like the SHA option — is available only at a branch.
- Returned transfers cost extra. Correspondent-bank charges on transfers rejected or returned due to incorrect details are recovered from the remitter.
Other ways to save
- NR accounts: OUR is free. Correspondent bank charges under the OUR option are NIL for outward remittances from Non-Resident accounts.↗
FAQ — Axis Bank to Saudi Arabia
What is Axis Bank's SAR rate today?
₹26.5800 per SAR is Axis Bank's TT Selling rate today — the rate applied when you send — and ₹25.0000 is its TT Buying rate for money you receive. The selling rate is +0.2400 (+0.91%) since 30 Sep. The full sheet with a 90-day chart is on the Axis Bank forex rates page.
How much does Axis Bank charge to send SAR to Saudi Arabia?
On a ₹1,00,000 outward remittance, Axis Bank's all-in cost today is ₹2,776 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for SAR. The fee breakdown above shows every line item.
Is Axis Bank the cheapest bank to send SAR to Saudi Arabia?
No — State Bank of India is currently ₹2,596 cheaper than Axis Bank for SAR to Saudi Arabia at ₹1,00,000. Axis Bank ranks 5th of 5 banks in our coverage for this corridor.
How long does a Axis Bank transfer to Saudi Arabia take?
A standard SWIFT / TT outward remittance from Axis Bank to a beneficiary in Saudi Arabia typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to Saudi Arabia with Axis Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in Saudi Arabia, and proof of source of funds for larger amounts. TCS at 20% applies above ₹10 lakh per financial year for most non-education purposes and is claimable in your ITR.
Run your own numbers
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 ₹3,948.89 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 × ₹96.89 | ₹96,890.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹174.40 |
| Total charges | ₹1,059.40 |
| Total payable (INR) | ₹97,949.40 |
- Amount being sent
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
$1,000.00 × ₹96.89
Total payable (INR)
₹97,949.40
Indian Overseas Bank
₹97,949.40
Cheapest
TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹96.89
- ₹96,890.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹174.40
- Total charges
- ₹1,059.40
- Total payable (INR)
- ₹97,949.40
State Bank of India
₹98,282.54
+₹333.14 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 × ₹97.05
- ₹97,050.00
- Branch Commission
- ₹970.50
- Correspondent Bank Charge (Remitter mode)
- ₹87.35
- GST on Amount Exchanged
- ₹174.69
- Total charges
- ₹1,232.54
- Total payable (INR)
- ₹98,282.54
ICICI Bank
₹99,466.60
+₹1,517.20 vs cheapest
TT Selling rate from ICICI Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.11
- ₹98,110.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹176.60
- Total charges
- ₹1,356.60
- Total payable (INR)
- ₹99,466.60
Kotak Mahindra Bank
₹99,697.01
+₹1,747.61 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 × ₹98.34
- ₹98,340.00
- Outward Remittance Commission (Online)
- ₹500.00
- Correspondent Bank Charge
- ₹500.00
- GST on Commission + Correspondent (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.01
- Total charges
- ₹1,357.01
- Total payable (INR)
- ₹99,697.01
HDFC Bank
₹99,707.03
+₹1,757.63 vs cheapest
TT Selling rate from HDFC Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.35
- ₹98,350.00
- Outward Remittance Commission
- ₹1,000.00
- GST on Commission (18%)
- ₹180.00
- GST on Amount Exchanged
- ₹177.03
- Total charges
- ₹1,357.03
- Total payable (INR)
- ₹99,707.03
Axis Bank
₹1,01,898.29
+₹3,948.89 vs cheapest
TT Selling rate from Axis Bank's published forex sheet — edit to model a quoted rate.
- Amount being sent$1,000.00 × ₹98.45
- ₹98,450.00
- Remittance Commission
- ₹1,000.00
- Correspondent Bank Charge (OUR)
- ₹1,772.10
- GST on Commission + Correspondent (18%)
- ₹498.98
- GST on Amount Exchanged
- ₹177.21
- Total charges
- ₹3,448.29
- Total payable (INR)
- ₹1,01,898.29
TCS is refundable when you file your ITR — it's a tax credit, not a fee.
Want the full picture?
- Axis Bank Bank: all remittance charges — every corridor Axis Bank supports, side by side
- Send money to Saudi Arabia from India — all 6 banks compared for SAR