Indian Overseas Bank Remittance Charges
Full per-currency rate sheet, fee-component breakdown, and worked totals at ₹50,000, ₹1,00,000, and ₹5,00,000 across USD, GBP, EUR, AED — all computed against Indian Overseas Bank's own data.
Today's USD rate
₹95.4400
TT Selling, INR per 1 unit
Commission
0.075%
min ₹250 / max ₹4,000
GST
18%
on Commission + Swift Charge
Swift charge
₹500
flat
01 · Things to know
Things to know
Applies to:Outward remittance, retail. Advance-against-imports, FCY DD issuance, and project-import scenarios are not modelled.
- Outward commission is 0.075% with a ₹250 floor and ₹4,000 ceiling — small transfers pay disproportionately more as a percentage.↗
- Correspondent bank charges are a pass-through actual — IOB's 2025 schedule says '+ correspondent Bank Charges' on top of commission and SWIFT. Not in our total. Typical range USD 5–25 depending on the corridor; verify on your debit advice.↗
- TCS at 20% applies on general LRS remittance above ₹10 lakh per financial year (refundable as a tax credit at ITR time).
▸Show 4 more notes
Other things to know
- IOB publishes LKR rates but flags them 'for information purpose only' — Sri Lanka transfers may not be transactable at the displayed rate; verify with branch.↗
- Swift charge ₹500 is on top of the commission, and IOB's published charges are exclusive of GST (add 18% on the total).↗
- Rates are indicative and subject to market movement; the live treasury rate at debit time is what's actually applied.↗
Other ways to save
- IOB's outward commission caps at ₹4,000 — for large remittances the effective percentage is lower than at flat-fee banks.
02 · What you'll pay
What you'll pay
Indian Overseas Bank bundles a small set of line items into the final fee. Each is computed from the rules below.
| Component | How it's calculated |
|---|---|
| Outward Remittance Commission (0.075%) | 0.075% of ACE (min ₹250) (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 |
03 · Today's rates
Today's rates
TT Selling = rate the bank uses when you send money abroad. TT Buying = rate applied when you receive money from abroad. Spread shows how much wider the sell rate is over the buy rate.
| Currency | TT Selling (outward) | TT Buying (inward) | Spread |
|---|---|---|---|
| USD | 95.4400 | 94.8700 | 0.60% |
| EUR | 110.4000 | 109.3000 | 1.01% |
| GBP | 128.6700 | 127.3900 | 1.00% |
| AUD | 67.3700 | 66.6300 | 1.11% |
| CAD | 68.2300 | 67.4900 | 1.10% |
| CHF | 118.4200 | 117.1300 | 1.10% |
| NZD | 56.2800 | 55.6600 | 1.11% |
| SGD | 74.6200 | 73.8100 | 1.10% |
| HKD | 12.1900 | 12.0600 | 1.08% |
| JPY | 0.6062 | 0.5996 | 1.10% |
| LKR | 0.2857 | 0.2815 | 1.49% |
| AED | 26.0900 | 25.7000 | 1.52% |
| DKK | 14.7600 | 14.6000 | 1.10% |
| NOK | 10.0100 | 9.9000 | 1.11% |
| SEK | 10.0700 | 9.9600 | 1.10% |
04 · Worked examples
Worked examples
Real totals at three benchmark amounts across four currencies, computed against Indian Overseas Bank's own rate sheet.
| Amount | Foreign amount | Total fees |
|---|---|---|
| USD | ||
| ₹50,000 | 523.89 USD | ₹975 |
| ₹1,00,000 | 1047.78 USD | ₹1,065 |
| ₹5,00,000 | 5238.89 USD | ₹1,573 |
| GBP | ||
| ₹50,000 | 388.59 GBP | ₹975 |
| ₹1,00,000 | 777.18 GBP | ₹1,065 |
| ₹5,00,000 | 3885.91 GBP | ₹1,573 |
| EUR | ||
| ₹50,000 | 452.90 EUR | ₹975 |
| ₹1,00,000 | 905.80 EUR | ₹1,065 |
| ₹5,00,000 | 4528.99 EUR | ₹1,573 |
| AED | ||
| ₹50,000 | 1916.44 AED | ₹975 |
| ₹1,00,000 | 3832.89 AED | ₹1,065 |
| ₹5,00,000 | 19164.43 AED | ₹1,573 |
Sending money to specific countries
At ₹1,00,000, Indian Overseas Bank charges the same total on every supported corridor — commission and GST components don't vary by destination currency at this amount.
Supported corridors — click any for the full breakdown
Not supported
Try it
Run your own numbers
Adjust the amount and currency below to see live totals for Indian Overseas Bank.
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.