RemitFee

Indian Overseas Bank · India → Japan

Indian Overseas Bank to Japan: what it actually costs to send JPY from India

At ₹1,00,000, Indian Overseas Bank charges ₹1,065 — the 3rd-cheapest of 6 banks for JPY. 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

JPY rate trend at Indian Overseas Bank

Today Indian Overseas Bank sells JPY at ₹0.6143 (TT Selling) and buys it at ₹0.6076 (TT Buying). The selling rate is +0.0051 (+0.84%) since 2 Oct and +0.0181 (+3.04%) since 1 Sep.

  • 30-day TT Selling range: ₹0.6092 – ₹0.6249 across 15 refreshes.
  • ₹1,00,000 bought between 160025.60 and 164149.70 JPY over that window, before charges.
Indian Overseas Bank JPY TT selling and TT buying rates, last 90 days16 Jul: TT Selling ₹0.5966 · TT Buying ₹0.590120 Jul: TT Selling ₹0.5971 · TT Buying ₹0.590529 Jul: TT Selling ₹0.5894 · TT Buying ₹0.583031 Jul: TT Selling ₹0.5961 · TT Buying ₹0.58961 Aug: TT Selling ₹0.5961 · TT Buying ₹0.58964 Aug: TT Selling ₹0.6079 · TT Buying ₹0.60127 Aug: TT Selling ₹0.6062 · TT Buying ₹0.599624 Aug: TT Selling ₹0.6048 · TT Buying ₹0.59821 Sep: TT Selling ₹0.5962 · TT Buying ₹0.589711 Sep: TT Selling ₹0.6230 · TT Buying ₹0.616214 Sep: TT Selling ₹0.6249 · TT Buying ₹0.618121 Sep: TT Selling ₹0.6127 · TT Buying ₹0.606023 Sep: TT Selling ₹0.6101 · TT Buying ₹0.603424 Sep: TT Selling ₹0.6101 · TT Buying ₹0.603428 Sep: TT Selling ₹0.6113 · TT Buying ₹0.604629 Sep: TT Selling ₹0.6113 · TT Buying ₹0.604630 Sep: TT Selling ₹0.6138 · TT Buying ₹0.60711 Oct: TT Selling ₹0.6092 · TT Buying ₹0.60262 Oct: TT Selling ₹0.6092 · TT Buying ₹0.60265 Oct: TT Selling ₹0.6118 · TT Buying ₹0.60516 Oct: TT Selling ₹0.6127 · TT Buying ₹0.60607 Oct: TT Selling ₹0.6118 · TT Buying ₹0.60518 Oct: TT Selling ₹0.6145 · TT Buying ₹0.60779 Oct: TT Selling ₹0.6143 · TT Buying ₹0.60760.620.5816 Jul9 Oct
TT Selling (when you send)TT Buying (when you receive)24 refreshes · INR per 1 JPY · hover a point for its values

All Indian Overseas Bank forex rates today →

What's specific to JPY 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 Japan

  • Japanese accounts are identified by the bank code, branch code, 7-digit account number and account type (ordinary/futsu); the SWIFT/BIC code routes the wire. Beneficiary names are often required in katakana exactly as registered with the bank.
  • Japanese banks commonly charge the recipient an incoming international remittance fee (often JPY 1,500–2,500 at the megabanks), and a separate "lifting charge" may apply; confirm with the beneficiary's bank.
  • Japan Post Bank and some online banks have their own SWIFT arrangements; get the exact wiring details from the beneficiary rather than from a bank website.

Japan is 3.5 hours ahead of IST; a transfer sent in the Indian morning often credits the next Japanese business day.

How this compares

State Bank of India is ₹885 cheaper than Indian Overseas Bank for sending JPY to Japan.

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 Japan

What is Indian Overseas Bank's JPY rate today?

₹0.6143 per JPY is Indian Overseas Bank's TT Selling rate today — the rate applied when you send — and ₹0.6076 is its TT Buying rate for money you receive. The selling rate is +0.0051 (+0.84%) 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 JPY to Japan?

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 JPY. The fee breakdown above shows every line item.

Is Indian Overseas Bank the cheapest bank to send JPY to Japan?

No — State Bank of India is currently ₹885 cheaper than Indian Overseas Bank for JPY to Japan 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 Japan take?

A standard SWIFT / TT outward remittance from Indian Overseas Bank to a beneficiary in Japan typically settles in 1–3 working days, depending on correspondent-bank routing.

What do I need to send money to Japan with Indian Overseas Bank?

You'll need PAN, a signed A2 form (LRS declaration) with a purpose code, the beneficiary's bank details in Japan, 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.

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.

INR / 1 USD

TT Selling rate from Indian Overseas Bank's published forex sheet — edit to model a quoted rate.

BREAKDOWN

Outward remittance

Amount being sent
₹96,890.00

$1,000.00 × ₹96.89

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

TCS is refundable when you file your ITR — it's a tax credit, not a fee.

Estimate only. Correspondent-bank charges are included only where the bank publishes them (Kotak, Axis, SBI); elsewhere they are a pass-through not shown here. Exchange rates shown are indicative. Mid-market rates by Exchange Rate API, updated daily.

Want the full picture?