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Charges

Given below is present charges structure for all the remittances sent using our SBI Express Remit Services offered on this site.

Type of Charges Amount
1 Remittance Charges Nil
2 Foreign Currency Conversion charges Rs25 /-
3 Interbank Money Transfer Charges
(Money transfer through NEFT to accounts in banks other than SBI & associate banks)
  a. For remittances up to USD 500 Rs6 /-*
  b. For remittances up to GBP 500 Rs100 /- *
4 Service Tax See Note below

* Interbank money transfer charges waived for remittances of value above USD 500/ GBP 500

The above charges structure is subject to change.

NOTE

Service Tax for conversion of Foreign Currency to Indian Currency or Vice-versa is payable to the Government of India, Ministry of Finance. The service tax rates with effect from 1st Day of April, 2011 are as follows:

  • 1. Service Tax is calculated as below:
    1. a. 0.1% of the gross amount of currency exchanged for an amount of Rs1,00,000, subject to minimum of Rs25/- ; and
    2. b. Rs100 and 0.05% of the gross amount of currency exchanged for an amount of rupees exceeding 1,00,000 and up to 10,00,000; and
    3. c. Rs550 and 0.01% of the gross amount of currency exchanged for an amount of rupees exceeding 10,00,000; subject to a maximum amount of Rs5,000
  • 2. Education cess @ 3% on service tax is also applicable for every transaction.

    For more details please click here
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