ICICI Bank · India → Singapore
ICICI Bank to Singapore: what it actually costs to send SGD from India
At ₹1,00,000, ICICI Bank charges ₹1,065 — the cheapest of 6 banks for SGD (₹0 less than the next-cheapest, Indian Overseas Bank).
Last updated 9 Oct 2026
Fee breakdown
- Commission ₹750
- GST Commission ₹135
- GST Exchange ₹180
- Total at ₹1,00,000₹1,065
SGD rate trend at ICICI Bank
Today ICICI Bank sells SGD at ₹76.9700 (TT Selling) and buys it at ₹74.2500 (TT Buying). The selling rate is +0.6300 (+0.83%) since 2 Oct and +0.9300 (+1.22%) since 1 Sep.
- 30-day TT Selling range: ₹76.2300 – ₹76.9700 across 15 refreshes.
- ₹1,00,000 bought between 1299.21 and 1311.82 SGD over that window, before charges.
What's specific to SGD at ICICI Bank
- Outward Remittance Commission: ₹750 for SGD, the standard rate — USD, GBP, EUR, AUD, CAD are priced at ₹1,000 instead.
Receiving in Singapore
- Singapore accounts are identified by the bank code, branch code and account number; the SWIFT/BIC code routes the wire. Singapore does not use IBANs.
- Singapore banks commonly charge the recipient a small fee for an incoming telegraphic transfer (often SGD 10 or less); DBS/POSB, OCBC and UOB publish the amount in their tariffs.
- PayNow cannot receive a SWIFT wire — you need full bank-account details, not a mobile-number alias. The UPI–PayNow link handles small person-to-person transfers through participating banks; wires remain the route for tuition and larger amounts.
Singapore is 2.5 hours ahead of IST; a transfer sent in the Indian morning often credits the same day, otherwise the next working day.
How this compares
ICICI Bank is the cheapest of 6 banks for sending SGD — by ₹0 vs the next bank (Indian Overseas Bank).
See the full side-by-side →ICICI Bank — Things to know
Applies to:Sending money abroad through ICICI NetBanking or iMobile as a Resident Individual. Branch and NRI cases aren't modelled here.
- Home corridors cost ₹1,000 — with guaranteed delivery. Since 1 Apr 2026, USD→USA, GBP→UK, EUR→Eurozone, AUD→Australia and CAD→Canada carry a ₹1,000 commission that ICICI labels 'Full Value Credit (Guaranteed Delivery)': no intermediary deductions, the full amount reaches the beneficiary bank. Every other route is ₹750 and non-guaranteed.↗
- ₹750 routes can lose money in transit. On the ₹750 non-guaranteed routes ICICI's charges don't include intermediary or correspondent bank fees — those banks can deduct their own charges from what the recipient receives, and ICICI publishes no amount for them.↗
- Branch costs more. At a branch the ₹750 routes cost ₹1,000 and USD→USA costs ₹1,500 (vs ₹1,000 online); the other four home corridors are ₹1,000 either way.↗
- GST is charged twice. GST applies to both the commission and the currency conversion (a slab), so your total GST is more than 18% of the commission alone.↗
- TCS on large transfers. For general purposes, 20% TCS applies on LRS spending above ₹10 lakh a year — refundable as a tax credit at ITR time.
- Skip the branch. Use NetBanking or iMobile instead of a branch: ₹250 cheaper on most routes and ₹500 cheaper for USD→USA.
- Compare the ₹1,000 with other banks' OUR totals. On the five home corridors the extra ₹250 buys guaranteed full-value delivery, so weigh it against other banks' commission plus correspondent charge — not their base commission alone.
▸Show 1 more note
Other things to know
- Card-rate cap. Card rates cover up to USD 25,000 per request and are indicative — the rate at debit time is what applies; above the cap, contact the branch or your RM.↗
FAQ — ICICI Bank to Singapore
What is ICICI Bank's SGD rate today?
₹76.9700 per SGD is ICICI Bank's TT Selling rate today — the rate applied when you send — and ₹74.2500 is its TT Buying rate for money you receive. The selling rate is +0.6300 (+0.83%) since 2 Oct. The full sheet with a 90-day chart is on the ICICI Bank forex rates page.
How much does ICICI Bank charge to send SGD to Singapore?
On a ₹1,00,000 outward remittance, ICICI Bank's all-in cost today is ₹1,065 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for SGD. The fee breakdown above shows every line item.
Is ICICI Bank the cheapest bank to send SGD to Singapore?
Yes — at ₹1,00,000, ICICI Bank is the cheapest of 6 banks in our coverage for SGD, ₹0 less than the next-cheapest (Indian Overseas Bank). Rankings shift when rates refresh, so check the comparison above for today's order.
How long does a ICICI Bank transfer to Singapore take?
A standard SWIFT / TT outward remittance from ICICI Bank to a beneficiary in Singapore typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to Singapore with ICICI Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in Singapore, 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?
- ICICI Bank Bank: all remittance charges — every corridor ICICI Bank supports, side by side
- Send money to Singapore from India — all 6 banks compared for SGD