ICICI Bank vs State Bank of India — Remittance Charges Compared

Side-by-side fee comparison between ICICI Bank and State Bank of India 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

ICICI Bank	State Bank of India
Outward Remittance Commission: Flat ₹750 GST on Commission (18%): 18% on commission GST on Amount Exchanged: Slab by ACE; 3 bands	Outward Remittance Commission (Individual): Flat ₹250 Swift Charge: 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

Currency	ICICI Bank	State Bank of India
USD	95.7700	94.8000
GBP	127.6600	125.8700
EUR	110.2600	109.3500
AED	26.4900	26.3500

Verdict matrix

Send	Currency	ICICI Bank	State Bank of India	Winner	Δ
₹50,000	USD	₹975	₹975	Tie	₹0
₹1,00,000	USD	₹1,065	₹1,065	Tie	₹0
₹5,00,000	USD	₹1,425	₹1,425	Tie	₹0
₹50,000	GBP	₹975	₹975	Tie	₹0
₹1,00,000	GBP	₹1,065	₹1,065	Tie	₹0
₹5,00,000	GBP	₹1,425	₹1,425	Tie	₹0
₹50,000	EUR	₹975	₹975	Tie	₹0
₹1,00,000	EUR	₹1,065	₹1,065	Tie	₹0
₹5,00,000	EUR	₹1,425	₹1,425	Tie	₹0
₹50,000	AED	₹975	₹975	Tie	₹0
₹1,00,000	AED	₹1,065	₹1,065	Tie	₹0
₹5,00,000	AED	₹1,425	₹1,425	Tie	₹0

State Bank of India: Rates from SBI Forex Card Rates PDF, TT SELL column (outward), 16 Jun 2026 09:13. Note: published SBI card rates are reference rates for transactions of ₹10L–₹20L; for smaller amounts SBI directs customers to contact the branch for an actual quote. JPY and THB are quoted per 100 units in the source PDF — values shown here are converted to per-1-unit. Commission shown for Resident Individual retail outward (₹250); other customer categories pay ₹500. Out-of-pocket Swift charge ₹500 per message included. Inward commission ₹50 (≤ USD 10k) / ₹100 (> USD 10k). Currencies with no TT-Sell quote on the sheet (CNH, KRW, PLN, BDT, CNY, KES, LKR, MYR, PKR, RUB, TRY) are not supported here. Other scenarios not modelled: FCNR(B)/NRE outward (free), Medical/Education (free), FCDD issuance (tiered ₹200/₹500/₹1000), NRI/Trade/ODI/FDI/ECB charges. TCS on LRS not included. Excludes correspondent-bank charges.

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