ICICI BANK · GERMANY
ICICI Bank to Germany: what it actually costs to send EUR from India
At ₹1,00,000, ICICI Bank charges ₹1,065 — the cheapest of 5 banks for EUR (₹0 less than the next-cheapest, Indian Overseas Bank).
Last updated 16 Jun 2026
Cost at common amounts
| Amount | Total cost | EUR received |
|---|---|---|
| ₹50,000 | ₹975 | 446.11 EUR |
| ₹1,00,000 | ₹1,065 | 892.22 EUR |
| ₹5,00,000 | ₹1,425 | 4461.10 EUR |
Fee breakdown
- Commission ₹750
- GST Commission ₹135
- GST Exchange ₹180
- Total at ₹1,00,000₹1,065
How this compares
ICICI Bank is the cheapest of 5 banks for sending EUR — by ₹0 vs the next bank (Indian Overseas Bank).
See the full side-by-side →ICICI Bank — Things to know
Applies to:Outward remittance via ICICI NetBanking or iMobile, Resident Individual, non-USD-to-USA destination. Branch and NRI scenarios are not modelled.
- USD sent to USA via Full-Value-Credit costs ₹250 more (₹1,000 online, ₹1,500 branch) than other destinations.↗
- Branch transactions are ₹250 more expensive than NetBanking / iMobile for the same currency and corridor.↗
- GST applies to both the commission and the currency conversion via a slab — total GST is higher than 18% of commission alone.↗
- TCS at 20% applies on general LRS remittance above ₹10 lakh per financial year (refundable as a tax credit at ITR time).
- Use NetBanking or iMobile instead of a branch — saves ₹250 per remittance for the same scenario.
- Send to non-USA destinations or pick non-Full-Value-Credit for USD-to-USA to drop the ₹250 add-on.
▸Show 1 more note
Other things to know
- Card rates apply up to USD 25,000 per request and are indicative — the final rate is the one at debit time; above the cap, contact branch / RM.↗
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 ₹1,807.72 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 × ₹95.44 | ₹95,440.00 |
| Outward Remittance Commission (0.075%) | ₹250.00 |
| Swift Payment Message | ₹500.00 |
| GST on Commission + Swift (18%) | ₹135.00 |
| GST on Amount Exchanged | ₹171.79 |
| Total charges | ₹1,056.79 |
| Total payable (INR) | ₹96,496.79 |
- Amount being sent
- ₹95,440.00
- Outward Remittance Commission (0.075%)
- ₹250.00
- Swift Payment Message
- ₹500.00
- GST on Commission + Swift (18%)
- ₹135.00
- GST on Amount Exchanged
- ₹171.79
- Total charges
- ₹1,056.79
$1,000.00 × ₹95.44
Total payable (INR)
₹96,496.79
TCS is refundable when you file your ITR — it's a tax credit, not a fee.
Want the full picture?
- ICICI Bank Bank: all remittance charges — every corridor ICICI Bank supports, side by side
- Send money to Germany from India — all 5 banks compared for EUR