State Bank of India Remittance Charges

The modes differ in who bears the SWIFT / correspondent charge and how it's collected — deducted from the foreign amount your recipient receives, paid upfront by you in INR, or guaranteed so the beneficiary gets the full amount at a higher upfront cost. The mode-by-mode table on this page computes the all-in total for each.

On a ₹1,00,000 transfer in USD, State Bank of India's all-in cost today is ₹1,238 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate (rates updated 7 Oct 2026). The worked examples above show totals at other amounts and currencies.

A wire transfer, a SWIFT transfer and a telegraphic transfer (TT) are the same product — an outward remittance. State Bank of India charges a Branch Commission set in the destination currency (USD 10 for USD, GBP 8 for GBP, EUR 10 for EUR …); a Correspondent Bank Charge (Remitter mode) set in the destination currency (USD 0.9 for USD, GBP 2 for GBP, EUR 5 for EUR …); and 18% GST on those fees, on top of converting your rupees at its TT Selling rate. Every line is itemised in the fee table above.

No. An international transaction charge (or forex markup) is what a debit or credit card adds when you pay in a foreign currency — usually a percentage of the purchase plus GST. A SWIFT remittance from State Bank of India is priced differently: commission, SWIFT / correspondent charges and 18% GST, plus the TT Selling rate. The two never apply to the same transaction.

State Bank of India converts your INR at its own published TT Selling rate — currently ₹97.05 per USD (rates updated 7 Oct 2026). This rate already includes the bank's margin over the mid-market rate, typically 1–2% at Indian banks, which is a real cost on top of the visible fees.

Yes — GST at 18% is charged on State Bank of India's commission (and on SWIFT / correspondent charges where the bank explicitly applies it). GST applies to the bank's fee portion, not to the amount you're sending. Every GST line is shown separately in the fee breakdown on this page.

A standard SWIFT / TT outward remittance from State Bank of India typically credits the beneficiary in 1–3 working days, depending on the destination country and correspondent-bank routing.

Under the RBI's Liberalised Remittance Scheme (LRS), a resident Indian can remit up to USD 250,000 per financial year — the cap applies across all banks and purposes combined, not per bank. TCS at 20% applies above ₹10 lakh per year for most non-education purposes and is claimable in your ITR.