Send Money to Singapore from India

What each bank charges to send SGD to Singapore

Line items reflect the bank's published fee schedule. GST at 18% is charged on commission (and on Swift / correspondent charges where the bank explicitly applies it).

How to send money to Singapore from India

1. Get the beneficiary's bank details. Full name and address as held by their bank, bank name and address in Singapore, plus the account number, bank code, and SWIFT code.
2. Pick the purpose code and fill Form A2. The A2 form is the LRS declaration; the most common codes for Singapore are S0202 (education), S1301 (gift), S0305 (maintenance of relative). Your PAN is mandatory and the bank checks your LRS usage for the financial year against the USD 250,000 cap.
3. Check TCS before you send. Above ₹10 lakh in a financial year most non-education purposes attract 20% TCS, collected by the bank and claimable in your ITR; education and medical purposes have lower rates. The calculator on this page applies it when you enter your year-to-date LRS amount.
4. Choose the channel. HDFC, ICICI, Kotak and Axis accept outward remittance in SGD through NetBanking or their apps; SBI routes select currencies through YONO and the rest through a branch; IOB is branch-led. Branch channels usually cost more — the bank pages list the difference.
5. Decide who pays the SWIFT and correspondent charges. OUR means you pay them upfront in rupees and the beneficiary gets the full amount; SHA and BEN shift them downstream, where they are deducted from what arrives. SBI's Payee, Remitter and Guaranteed modes are the same choice under different names.
6. The bank applies the TT Selling rate and its charges. Your INR is converted at the bank's published TT Selling rate for SGD at the moment of debit, then commission, SWIFT / correspondent charges and 18% GST are added — exactly the lines shown above.
7. Track it and expect 1–3 working days. Ask the bank for the SWIFT reference (UETR) so the beneficiary's bank can trace the payment. Singapore is 2.5 hours ahead of IST; a transfer sent in the Indian morning often credits the same day, otherwise the next working day.

LRS cap: USD 250,000 per resident per financial year (across all corridors combined). TCS at 20% applies above ₹10 lakh per year for most non-education purposes and is claimable in your ITR.

Sending to Singapore: what's different

Singapore sees tuition and living expenses for students, family support, and transfers to the accounts of professionals relocating there; it is also the corridor with the most search interest after the UK.

On the receiving side

• Singapore accounts are identified by the bank code, branch code and account number; the SWIFT/BIC code routes the wire. Singapore does not use IBANs.
• Singapore banks commonly charge the recipient a small fee for an incoming telegraphic transfer (often SGD 10 or less); DBS/POSB, OCBC and UOB publish the amount in their tariffs.
• PayNow cannot receive a SWIFT wire — you need full bank-account details, not a mobile-number alias. The UPI–PayNow link handles small person-to-person transfers through participating banks; wires remain the route for tuition and larger amounts.

About SGD

SGD is priced online at every bank RemitFee covers; SBI publishes SGD-specific table entries (branch commission SGD 10, correspondent SGD 10 in Remitter mode) rather than charging in USD.

Timing

Singapore is 2.5 hours ahead of IST; a transfer sent in the Indian morning often credits the same day, otherwise the next working day.

FAQ — Sending money to Singapore from India