State Bank of India · India → USA
State Bank of India to USA: what it actually costs to send USD from India
At ₹1,00,000, State Bank of India charges ₹1,238 — the 2nd-cheapest of 6 banks for USD. Indian Overseas Bank is ₹173 cheaper.
Last updated 7 Oct 2026
Fee breakdown
- Branch Commission ₹971
- Correspondent Charge Remitter ₹87
- GST Exchange ₹180
- Total at ₹1,00,000₹1,238
USD rate trend at State Bank of India
Today State Bank of India sells USD at ₹97.0500 (TT Selling) and buys it at ₹96.2000 (TT Buying). The selling rate is +0.7000 (+0.73%) since 28 Sep and +1.5500 (+1.62%) since 1 Sep.
- 30-day TT Selling range: ₹96.1000 – ₹97.0500 across 10 refreshes.
- ₹1,00,000 bought between 1030.40 and 1040.58 USD over that window, before charges.
What's specific to USD at State Bank of India
- Branch Commission: USD 10 for USD (≈ ₹971 at today's rate).
- Correspondent Bank Charge (Remitter mode): USD 0.9 for USD (≈ ₹87 at today's rate).
- All 3 charge modes (Payee, Remitter, Guaranteed) are available for USD.
- In Payee mode, USD 10.9 is deducted from what the recipient receives (≈ ₹1,058 at today's rate) instead of being charged in rupees.
Receiving in USA
- US banks identify accounts by a 9-digit ABA routing number plus the account number; the SWIFT/BIC code routes the international leg. Both go on the A2 form — a wire with only one of them is delayed or returned.
- Many US banks charge the recipient an incoming international wire fee — commonly USD 15–25 — on top of whatever the Indian bank charged. It shows up as a deduction on the US side, never on your Indian receipt.
- Universities often collect fees through Flywire or Convera rather than a direct wire; those platforms quote their own rate, so compare it with the TT Selling rates on this page before paying.
The US is 9.5–12.5 hours behind IST in summer (10.5–13.5 in winter), so a transfer initiated in the Indian morning usually reaches the US bank on the same US business day; weekends and US bank holidays add a day.
How this compares
Indian Overseas Bank is ₹173 cheaper than State Bank of India for sending USD to USA.
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 USA
What is State Bank of India's USD rate today?
₹97.0500 per USD is State Bank of India's TT Selling rate today — the rate applied when you send — and ₹96.2000 is its TT Buying rate for money you receive. The selling rate is +0.7000 (+0.73%) 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 USD to USA?
On a ₹1,00,000 outward remittance, 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 for USD. The fee breakdown above shows every line item.
Is State Bank of India the cheapest bank to send USD to USA?
No — Indian Overseas Bank is currently ₹173 cheaper than State Bank of India for USD to USA at ₹1,00,000. State Bank of India ranks 2nd of 6 banks in our coverage for this corridor.
How long does a State Bank of India transfer to USA take?
A standard SWIFT / TT outward remittance from State Bank of India to a beneficiary in USA typically settles in 1–3 working days, depending on correspondent-bank routing.
What do I need to send money to USA 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 USA, 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?
- State Bank of India Bank: all remittance charges — every corridor State Bank of India supports, side by side
- Send money to USA from India — all 6 banks compared for USD