HDFC Bank vs Indian Overseas Bank — Remittance Charges Compared

Side-by-side fee comparison between HDFC Bank and Indian Overseas Bank on outward remittance from India. The verdict matrix below shows the cheaper bank at ₹50K, ₹1L, ₹5L across USD, GBP, EUR, AED, with the rupee delta.

Outward fee components

HDFC BankIndian Overseas Bank
  • Outward Remittance Commission: Tiered by USD amount: ≤500: ₹500, >500: ₹1000
  • GST on Commission (18%): 18% on commission
  • GST on Amount Exchanged: Slab by ACE; 3 bands
  • Outward Remittance Commission (0.075%): 0.075% of ACE (min ₹150) (max ₹4000)
  • Swift Payment Message: Flat ₹500
  • GST on Commission + Swift (18%): 18% on commission, swift_charge
  • GST on Amount Exchanged: Slab by ACE; 3 bands

TT Selling rates side-by-side

CurrencyHDFC BankIndian Overseas Bank
USD 95.9900 94.6400
GBP 127.8200 124.9300
EUR 110.2500 108.4300
AED 26.4700 25.8700

Verdict matrix

SendCurrencyHDFC BankIndian Overseas BankWinnerΔ
₹50,000 USD ₹1,270 ₹857 Indian Overseas Bank ₹413
₹1,00,000 USD ₹1,360 ₹947 Indian Overseas Bank ₹413
₹5,00,000 USD ₹1,810 ₹1,573 Indian Overseas Bank ₹238
₹50,000 GBP ₹1,270 ₹857 Indian Overseas Bank ₹413
₹1,00,000 GBP ₹1,360 ₹947 Indian Overseas Bank ₹413
₹5,00,000 GBP ₹1,810 ₹1,573 Indian Overseas Bank ₹238
₹50,000 EUR ₹1,270 ₹857 Indian Overseas Bank ₹413
₹1,00,000 EUR ₹1,360 ₹947 Indian Overseas Bank ₹413
₹5,00,000 EUR ₹1,810 ₹1,573 Indian Overseas Bank ₹238
₹50,000 AED ₹1,270 ₹857 Indian Overseas Bank ₹413
₹1,00,000 AED ₹1,360 ₹947 Indian Overseas Bank ₹413
₹5,00,000 AED ₹1,810 ₹1,573 Indian Overseas Bank ₹238

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Transfer details
INR

Today's rate from Indian Overseas Bank's published forex sheet.

Outward remittance

Enter an amount to see charges.

Estimate only. Excludes correspondent/intermediary-bank charges. Exchange rates shown are indicative.