Indian Overseas Bank · India → Hong Kong
Indian Overseas Bank to Hong Kong: what it actually costs to send HKD from India
At ₹1,00,000, Indian Overseas Bank charges ₹1,065 — the 3rd-cheapest of 6 banks for HKD. State Bank of India is ₹885 cheaper.
Last updated 9 Oct 2026
Fee breakdown
- Commission ₹250
- Swift Charge ₹500
- GST Commission ₹135
- GST Exchange ₹180
- Total at ₹1,00,000₹1,065
HKD rate trend at Indian Overseas Bank
Today Indian Overseas Bank sells HKD at ₹12.3700 (TT Selling) and buys it at ₹12.2400 (TT Buying). The selling rate is +0.0800 (+0.65%) since 2 Oct and +0.2100 (+1.73%) since 1 Sep.
- 30-day TT Selling range: ₹12.2500 – ₹12.3800 across 15 refreshes.
- ₹1,00,000 bought between 8077.54 and 8163.27 HKD over that window, before charges.
What's specific to HKD at Indian Overseas Bank
Indian Overseas Bank's fee lines don't vary by destination currency — the breakdown above applies to every corridor it supports; only the exchange rate changes.
Receiving in Hong Kong
- Hong Kong accounts use a 3-digit bank code plus a 6–9 digit account number; the SWIFT/BIC code routes the wire. No IBANs.
- HSBC, Hang Seng, Standard Chartered and Bank of China (HK) commonly charge the recipient a fee for an incoming telegraphic transfer (often HKD 50–65); FPS cannot receive a SWIFT wire.
- Many payees accept HKD or USD; send HKD so the amount is not converted a second time on arrival.
Hong Kong is 2.5 hours ahead of IST; morning transfers from India often credit the same day.
How this compares
State Bank of India is ₹885 cheaper than Indian Overseas Bank for sending HKD to Hong Kong.
See the full side-by-side →Indian Overseas Bank — Things to know
Applies to:Sending money abroad, retail. Advance-against-imports, FCY DD issuance, and project-import cases aren't modelled here.
- Small transfers pay more. The commission is 0.075% with a ₹250 floor and ₹4,000 cap, so on small amounts the percentage you pay is higher.↗
- Correspondent fee isn't in our total. IOB's schedule adds '+ correspondent bank charges' beyond commission and SWIFT — typically USD 5–25 depending on the route. Check your debit advice; we don't include it.↗
- 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.
▸Show 4 more notes
Other things to know
- Sri Lanka rates are indicative. IOB shows LKR rates 'for information only' — Sri Lanka transfers may not go through at the displayed rate, so check with the branch.↗
- GST sits on top. The ₹500 SWIFT charge is on top of the commission, and IOB's published charges exclude GST — add 18% on the total.↗
- Live rate at debit applies. Rates are indicative and move with the market; the treasury rate at the moment of debit is what you actually get.↗
Other ways to save
- Better value on large transfers. Because the commission caps at ₹4,000, big remittances pay a lower effective percentage than at flat-fee banks.
FAQ — Indian Overseas Bank to Hong Kong
What is Indian Overseas Bank's HKD rate today?
₹12.3700 per HKD is Indian Overseas Bank's TT Selling rate today — the rate applied when you send — and ₹12.2400 is its TT Buying rate for money you receive. The selling rate is +0.0800 (+0.65%) since 2 Oct. The full sheet with a 90-day chart is on the Indian Overseas Bank forex rates page.
How much does Indian Overseas Bank charge to send HKD to Hong Kong?
On a ₹1,00,000 outward remittance, Indian Overseas 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 HKD. The fee breakdown above shows every line item.
Is Indian Overseas Bank the cheapest bank to send HKD to Hong Kong?
No — State Bank of India is currently ₹885 cheaper than Indian Overseas Bank for HKD to Hong Kong at ₹1,00,000. Indian Overseas Bank ranks 3rd of 6 banks in our coverage for this corridor.
How long does a Indian Overseas Bank transfer to Hong Kong take?
A standard SWIFT / TT outward remittance from Indian Overseas Bank to a beneficiary in Hong Kong typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to Hong Kong with Indian Overseas Bank?
You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in Hong Kong, 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?
- Indian Overseas Bank Bank: all remittance charges — every corridor Indian Overseas Bank supports, side by side
- Send money to Hong Kong from India — all 6 banks compared for HKD