Key facts
What the official sources publish
Every value below belongs to this exact product. Select a source marker to check its context.
Published remittance methodsInstant Transfer, SWIFT MT103 wire transfer, demand draft or cashier's cheque, and foreign-currency cheque collection
Source 1Instant Transfer origin offices listedAustralia, Bahrain, Belgium, Canada, China, Hong Kong, Israel, Japan, Maldives, Mauritius, Nepal, Oman, Singapore, South Africa and UK
Source 2Instant Transfer destination reachReal-time rupee remittance to more than 22,000 SBI core-banking branches and more than 65,000 NEFT/
Source 3Foreign-office account requirementMay be available to people who are not account holders of the originating SBI foreign branch at certain centres
Source 4Linked online channelsSBI Express Remit and OnlineSBI Global
Source 5Official origin-branch directorySBI publishes branch contact details for the 15 listed Instant Transfer countries, but the directory page was last updated 6 January 2021 and should be reconfirmed before useEffective 6 Jan 2021
Source 6Instant Transfer chargesVary by originating branch and country; some foreign branches offer concessions to their account holders
Source 7SWIFT coverageInbound SWIFT MT103 remittance from an overseas bank anywhere in the world to an eligible beneficiary account in India
Source 8SWIFT beneficiary credit timingSBI beneficiary: within one business day of message receipt; other-bank beneficiary: through NEFT/RTGS within two business days
Source 9SWIFT routing-code ruleUp to USD 25,000 equivalent: SBININBBFXD; above USD 25,000 equivalent: beneficiary home-branch SWIFT code, or a link/
Source 10SWIFT instruction dataBeneficiary 11-digit account number, full name and address, SBI branch code/
Source 11India inward-remittance handling charge₹50 handling charge for an inward remittance in India
Source 12Published GST schedule on credited inward remittanceUp to ₹1,00,000: 0.18% of gross amount; above ₹1,00,000 to ₹10,00,000: 0.09% of the amount exceeding ₹1,00,000; above ₹10,00,000: 0.018% of the amount exceeding ₹10,00,000
Source 13Cashier's cheque or international money orderCollected under the same principles as a cheque drawn on a foreign bank, subject to SBI's foreign-currency cheque and other-instrument collection policy
Source 14Demand-draft collectionBeneficiary deposits the draft at the Indian account branch; it is sent to the payable branch and credited after collection, using the prevailing conversion rate on the conversion date and then-current collection charges
Source 15Foreign-currency personal-cheque collectionA personal cheque drawn on a foreign bank in foreign currency may be deposited for credit to an Indian-branch account; SBI sends it to the country of payment and credits the account after collection
Source 16Foreign-currency cheque timingCollection time varies by country, local clearing arrangements and the drawee bank's location
Source 17Cheque deposit and conversionDeposit through a messenger or by post/courier; collection charges apply as revised from time to time, and INR conversion uses the exchange rate prevailing on the conversion date
Source 18Benefits and features
- Multiple inward-remittance and foreign-instrument collection methods on one SBI service page
- Fast foreign-office routes plus worldwide SWIFT fallback
- Credit to SBI accounts and supported other-bank accounts in India
Eligibility
- Availability, sender onboarding, exchange rate, charges, limits and required evidence depend on the origin country, foreign office, correspondent or drawee bank and selected method.
- The non-Middle-East page's USD 25,000 SWIFT routing threshold and ₹50 handling charge are page-specific and should not be substituted with the separate Middle East page's published values.
- Drafts, cashier's cheques, international money orders and foreign-currency cheques are collection instruments, so credit and conversion occur only after the applicable collection process.
Passing a listed condition does not mean the bank will approve an application.