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State Bank of India · India → UK

State Bank of India to UK: what it actually costs to send GBP from India

At ₹1,00,000, State Bank of India charges ₹1,474 — the 5th-cheapest of 6 banks for GBP. Indian Overseas Bank is ₹409 cheaper.

Last updated 7 Oct 2026

Fee breakdown

  • Branch Commission ₹1,035
  • Correspondent Charge Remitter ₹259
  • GST Exchange ₹180
  • Total at ₹1,00,000₹1,474

GBP rate trend at State Bank of India

Today State Bank of India sells GBP at ₹129.4300 (TT Selling) and buys it at ₹126.5600 (TT Buying). The selling rate is +0.9500 (+0.74%) since 28 Sep and −0.7700 (−0.59%) since 1 Sep.

  • 30-day TT Selling range: ₹128.3500 – ₹130.6500 across 10 refreshes.
  • ₹1,00,000 bought between 765.40 and 779.12 GBP over that window, before charges.
State Bank of India GBP TT selling and TT buying rates, last 90 days9 Jul: TT Selling ₹129.4800 · TT Buying ₹126.600010 Jul: TT Selling ₹129.5500 · TT Buying ₹126.700016 Jul: TT Selling ₹131.8000 · TT Buying ₹128.900020 Jul: TT Selling ₹131.2300 · TT Buying ₹128.300029 Jul: TT Selling ₹128.7400 · TT Buying ₹125.900031 Jul: TT Selling ₹129.8400 · TT Buying ₹127.00001 Aug: TT Selling ₹130.1400 · TT Buying ₹127.30004 Aug: TT Selling ₹129.5600 · TT Buying ₹126.70007 Aug: TT Selling ₹129.5100 · TT Buying ₹126.700024 Aug: TT Selling ₹132.1000 · TT Buying ₹129.20001 Sep: TT Selling ₹130.2000 · TT Buying ₹127.300011 Sep: TT Selling ₹130.6500 · TT Buying ₹127.780014 Sep: TT Selling ₹130.6500 · TT Buying ₹127.780021 Sep: TT Selling ₹130.0200 · TT Buying ₹127.140023 Sep: TT Selling ₹129.3100 · TT Buying ₹126.440024 Sep: TT Selling ₹128.3500 · TT Buying ₹125.490028 Sep: TT Selling ₹128.4800 · TT Buying ₹125.62001 Oct: TT Selling ₹128.5600 · TT Buying ₹125.68005 Oct: TT Selling ₹128.5800 · TT Buying ₹125.71006 Oct: TT Selling ₹128.8000 · TT Buying ₹125.93007 Oct: TT Selling ₹129.4300 · TT Buying ₹126.5600132.10125.499 Jul7 Oct
TT Selling (when you send)TT Buying (when you receive)21 refreshes · INR per 1 GBP · hover a point for its values

All State Bank of India forex rates today →

What's specific to GBP at State Bank of India

  • Branch Commission: GBP 8 for GBP (≈ ₹1,035 at today's rate).
  • Correspondent Bank Charge (Remitter mode): GBP 2 for GBP (≈ ₹259 at today's rate).
  • All 3 charge modes (Payee, Remitter, Guaranteed) are available for GBP.
  • In Payee mode, GBP 10 is deducted from what the recipient receives (≈ ₹1,294 at today's rate) instead of being charged in rupees.

Receiving in UK

  • UK accounts are identified by a 6-digit sort code and an 8-digit account number; the SWIFT/BIC code (UK banks also publish an IBAN) routes the international leg.
  • Some UK banks charge a small fee for receiving an international payment; check the beneficiary's tariff. Send in GBP rather than USD so the receiving bank does not convert a second time at its own rate.
  • Universities and student-housing providers often accept card or platform payments (Flywire, Convera); a bank wire is usually cheaper for a full year's tuition, but compare the platform's quoted rate with the TT Selling rates above.

The UK is 4.5 hours behind IST in summer (5.5 in winter); GBP wires sent before the Indian bank's cut-off often credit the same working day in the UK, otherwise the next.

How this compares

Indian Overseas Bank is ₹409 cheaper than State Bank of India for sending GBP to UK.

See the full side-by-side →

State Bank of India — Things to know

Applies to:Sending money abroad as an individual retail customer via SBI YONO or Internet Banking (rules effective 1 May 2025). The total shown is the Remitter mode, where the recipient gets the full amount; the mode table compares the Payee and Guaranteed options. Currencies outside YONO's 8-currency set are branch-only and not modelled here.

  • SBI's own fee is nil. Since 1 May 2025 SBI charges individuals no commission and waives SWIFT for retail — what you pay is the per-currency Branch Commission and correspondent charge, plus GST.↗
  • Three ways to split the fees. At YONO you choose who bears the SWIFT charges: Payee (the recipient absorbs the Branch Commission + correspondent, so USD 1,000 lands as ~USD 989), Remitter (you pay both in INR, recipient gets the full amount), or Guaranteed (USD/EUR/GBP only, full delivery).↗
  • Most currencies are branch-only. Only 8 currencies are priced online; the other 13 (CHF, HKD, JPY, THB, SAR, OMR, BHD, KWD, QAR, DKK, NOK, SEK, ZAR) are branch-only and not modelled here.
  • 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

  • Rates suit larger transfers. SBI's card rates target the ₹10–20 lakh band; smaller amounts may be quoted differently at the branch.↗

Other ways to save

  • Pick 'Payee' on big transfers. Choosing Payee lets you skip paying the Branch Commission and correspondent charge in INR — the recipient gets that much less, which stings least on large amounts.
  • Medical & education loans are free. SBI waives outward charges for Medical purposes and Education Loan disbursement — declare the purpose if it qualifies.↗
  • Send from FCNR/NRE to save. Outward transfers from an FCNR(B) or NRE account skip the out-of-pocket charges — only the correspondent fee applies.

FAQ — State Bank of India to UK

What is State Bank of India's GBP rate today?

₹129.4300 per GBP is State Bank of India's TT Selling rate today — the rate applied when you send — and ₹126.5600 is its TT Buying rate for money you receive. The selling rate is +0.9500 (+0.74%) since 28 Sep. The full sheet with a 90-day chart is on the State Bank of India forex rates page.

How much does State Bank of India charge to send GBP to UK?

On a ₹1,00,000 outward remittance, State Bank of India's all-in cost today is ₹1,474 — commission, SWIFT / correspondent charges and 18% GST included, computed at the bank's own TT Selling rate for GBP. The fee breakdown above shows every line item.

Is State Bank of India the cheapest bank to send GBP to UK?

No — Indian Overseas Bank is currently ₹409 cheaper than State Bank of India for GBP to UK at ₹1,00,000. State Bank of India ranks 5th of 6 banks in our coverage for this corridor.

How long does a State Bank of India transfer to UK take?

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

What do I need to send money to UK with State Bank of India?

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

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