Connecting Businesses with Opportunities in India
Connecting Businesses with Opportunities in India

ENTRY INDIA - An India Business & Travel Guide


Market exchange rate as of
48 Minutes ago
64.29
30 Day Trend

Comparison of Dollar to Rupee Exchange Rates

The Indian Rupee is the official currency of India.

Non-Resident Indians (NRIs) remitted nearly $70 billion to India last year. But even so, most NRIs wonder if they are using the right service provider for sending money to India. Is it safe to use this service? How long will it take before the money reaches the destination? Am I getting competitive exchange rates? Should I wait for a few days to transfer money to India to get a better rate?

To answer these questions, we have prepared a table of financial institutions that send money to India as shown below. Exchange Rates vary by the transaction amount and the method of transfer. The rates and fee shown to send money to India are for online transfer of under $1000 from USA.

Scroll past the rate table to see the Exchange Rate Discussion Board.

Institution
 ₹ Per $ 
Type
Fee Time Comments


Axis Bank

1-855-205-5577

63.96

Fixed
0.00 5 Days
  • Get upto 25 paisa extra on your remittance to any Axis Bank Account*
  • Transfer money to 150 banks in India
  • 0 Processing Fee Fixed exchange rates
  • Conveniently schedule your payments with recurring payment facility for ACH Transfers
  • Get an exciting gift on your first remittance
  • Track your remittances anywhere & anytime
  • For assistance contact nri.services@axisbank.com or call (1-855-205-5577) Toll-free


ICICI Bank

1-866-424-2448

63.61

Fixed
2.00 2 Days
  • Remittance Service Charge of $2.00 (inclusive of service tax @10.30%) for amounts of $1000 or below
  • Fixed exchange rates
  • ACH mechanism of transfer into any ICICI Bank Remittance card or into any resident Visa Debit Card account issued in India
  • Money deposited into any ICICI bank account with over 2,500 branches in India OR into bank accounts with over 100 banks in India
  • Other Delivery Mechanisms: Demand Draft, Cash


IndusInd Bank

+91- 22- 4406 6666

63.85

Fixed
0.00 3 - 5 Days
  • $0 fees to transfer to any Bank in India
  • Exchange rates are guaranteed, locked-in
  • Regular users of IndusFastRemit are automatically upgraded to faster payments
  • Bank uses ACH mechanism to transfer funds
  • It takes 3-4 days before the money is available in the Indian account
  • Other Delivey Mechanisms: By Direct Depost to any IndiusInd Bank account and by Cheque


Moneydart

1-866-372-3874

64.01

Fixed
3.00 2 - 3 Days
  • Money2anywhere.com, has $0 fees for above $1000 transactions and $3 fees for below $1000.
  • Guaranteed Exchange Rate
  • Bank Transfer (ACH mechanism) takes 24-48 hrs for transfer
  • Unlimited amount for bank deposit or draft delivery at home
  • Bank draft delivery at home takes 3 days only
  • Xpress Money option delivers cash at agent locations immediately (Rs. 50,000 max.)


Remit2India

1-888-736-4886

63.72

Indicative
5.00 2 Days
  • Free $25 Amazon voucher on first transaction   
  • Zero fees for transfer above $999
  • Option to choose guaranteed or indicative rate
  • Transfer takes 4 days* for ACH and 1 day* for wire transfer
  • No upper limit on transaction
  • Method of receiving in India is bank deposit
  • Get Rs. 1000 with every referral, who registers and transacts
  • For assistance, mail at info@remit2india.com or call toll free at 1-888-736-4886


RemitLite

1-855-346-5820

64.40

Indicative
2.99 6 Days
  • Transfer Fee as low as USD 2.99
  • Pay Modes: (a) ACH Transfer (Direct Debit) (b) Wire Transfer (Guaranteed Rate Transfer)
  • Simple and Clutter-Free Website, with a seamless transacting experience
  • Handy FAQs, for all possible queries
  • Get in touch with us at service@remitlite.com


Remitly

1-888-REMITLY

64.34

Fixed
1.99 4 Indian banking hours (Express) or 3 business days (Economy)
  • $0 fee for transfer over $1000. Fee of $1.99 for transfers below $1000.
  • Guaranteed Exchange Rate
  • Take 3 business days to transfer from your Bank account
  • Deposits can be made to all the major banks in India
  • 100% Money-Back Guarantee
  • 24/7 Customer Support


Ria Money Transfer

1-877-443-1399

63.95

Fixed
0.00 3 Days
  • $0 transfer fee via debit card
  • Great exchange rates
  • Deposit to almost any bank in India within 24 hours
  • Cash pick-up available
  • 100% Money-Back Guarantee
  • More than 230,000 Worldwide Agent Locations in more than 130 Countries


State Bank of India

1-212-521-3284

63.65

Indicative
0.00 4 - 5 Days
  • $0 fee for online transfer to SBI Banks and fee of Rs. 6 for online transfer of amount less than $500 to any other bank
  • Foreign Currency Conversion charges of Rs.250/- levied on every remittance.
  • Service tax of .14% or Rs. 35 (whichever is higher) for amounts upto Rs. 100,000 received in India
  • 2 days for transfer to account in SBI bank and 4-5 days to accounts in other banks
  • Min remittance amount in a single transaction is $50
  • Max remittance of $10,000 in a single transaction to account in SBI and of $5000 in account with any other bank
  • Other Transfer modes: Instant transfer, SWIFT/Wire transfer, Draft Cashier's Cheques and Foreign currency cheques.
     


TRANSFAST

1-888-973-6383

64.00

Fixed
0.00 3 Days
  • Highest Locked-In Exchange Rate Guarantee
  • Instant Bank Deposits to Bank Across India
  • Cash PickUp to Over 20,000 Location Across India
  • No fee for transfers over $1,000
  • Minimum amount to send $50, Maximum amount $2,950
  • 24/7 Customer Service and Live Web Chat
  • Accept ACH & Credit Card for payment
  • Remittance can also be made in person at their agent location


Western Union

1-877-989-3268

63.94

Fixed
10.00 3 Days
  • The rate shown is for the city of Edison in New Jersey, USA. The exchange rate differs depending on the location of transfer (over 47000 locations in US)
  • Rate given at the location of transfer is Guaranteed
  • Money in 3 business days: Fees of $10
  • Best option in case of emergency, money received with-in mins
  • Send money by visiting agent location or online direct bank transfer/credit/debit card
  • Receive money by direct credit to bank account (including NRE/NRO) or cash pick up at a western union agent location


Xoom

1-877-815-1531

63.20

Fixed
4.99 1 - 4 Hours
  • Fee of $4.99 if paid with a US Bank account and fee of $29.99 if paid with Debit/Credit card. This fee is based on $1000 transfer.
  • Guaranteed Exchange Rate
  • Bank deposits within 24 Hours to most bank accounts in India
  • Other modes of delivery in India: Cash Pickup by recipients, Cash Delivery

Discussion Board

Need Clarification in Price difference using USD and INR
I want to buy a Laptop.The price in US dollars is $699, but in indian rupees it is above 88000.Why is that much difference occuring?
     
I assume it also includes the
I assume it also includes the customs duty (approx @20-30%) for shipping/bringing electronics to India. A rough estimate is provided below with approx calc (1 USD @ INR 64) Cost of Laptop - USD 700 - INR 45000 US Sales Tax - 50 - 3200 Shipping - 230 - 15000 Customs - 140 to 210 - 9000 to 13500 Total - 1120 to 1190 - 72000 to 77200... not sure whether any other expenses included to reach 88k in India
     
Becoz flight and cargo price
Becoz flight and cargo price
     
higher amount exchange rate

Dear SIR

 

please accept many thanks for this fantastic website full of information.

May i request you to kindly increase your data base by including the other banks and if the amount of transfer is higher than 

what rate will be expected by that bank,,as right now only transfers of below than 1000USD ,,,is seen there.

THANKS AGAIN.

 

 

BEST REGARDS

 

VIVEK HK

     
Best app to transfer money

try remitbee for better exchange rates.

     
request

sir i want the new franches in pan card center please 

my cell number is 9666266906

Email id sanashajahan9@gmail.com

     
BEST WAY TO TRANSFER FROM US TO UAE

HI

I want to do bulk transfer from usd account to UAE account of my relative.

Wanted to know the safest and most reliable legal way to  do the transfer with no fees attached.

Pls guide.

 

Regards

     
Experience with NRE accounts- best options??

Hey guys,

It is clear that the only legal way to transfer your $ earnings from US to India and keep it under your name is via an NRE account. I'm hoping some of you are currently holding an NRE a/c in India. Need your experiences for below points.

  1. What are the options that you take to let a person in india do cash transactions from the NRE account ( as far as I know, technically no bank authorizes a person in India to withdraw from your NRE a/c)?
  2. I think you can transfer INR from your NRE a/c to a savings bank a/c in India. is that correct? If so, can you recommend a bank that has lower service charges for these kind of transfers? Its not wise to lose some INR during exchange and again some INR for transfers b/w NRE and savings a/c in India. 

 

     
Experience with NRE account

Hello,

Below are the answers to your questions

1) If you give GPA (Power of Attroney) to your parents / relatives in india on your NRE account they can do any kind of trasaction on their own.

2) Yes you can transfer from NRE to any other savings account. However you can only deposit to your NRE account by remittance of $ amount or other currency. There is another type of account called NRO where deposits are allowed to. HDFC NRE bank charges minimum for your transfer. 

By the way you can deposit directly to the savings account of your relatives by using the above remittance services, however there might be a income tax problem.

     
service charges of state bank of india for inward remittance.

I have remitted US$ 1900 on two occasions from Norway to Indian SBI Account(NRE). The bank has deducted US$ 50 on both occasios, besides service and commission charges in Indian rupees. I am not getting clarification from anywhere. Can you please tell me.

     

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