Remittances

Outward Remittances

SBI Muscat offers remittances at attractive Exchange Rates and low remittance charges through multiple channels. Our remittance products are customized to suit your needs. You can select the mode of remittance from the following Remittance Products offered by us. Presently outward remittance services are offered only to the customers of SBI, Muscat Branch.

Instant Transfer Currency:

INR “Instant Transfer” is a Real Time Rupee Remittance facility from SBI Muscat to your / beneficiary’s account maintained with

Over 13000 Core Banking Branches of State Bank of India in India within Seconds (You will also Receive Confirmation of Remittances on your Mobile)

Over 4500 branches of Associate Banks of SBI through NEFT within hours and

Over 60,000 NEFT/RTGS enabled branches of other banks in India by the end of the next working day.

SWIFT / Wire Transfer: Currencies: USD, GBP, EUR & AED

You can send remittances across the Globe using SBI Muscat’s correspondent banks. The remittance can be sent to the beneficiary’s branch directly if it is a SWIFT linked branch. Else, you can select a SWIFT linked branch located close to the beneficiary’s home town, which will handle the SWIFT transaction and transfer the funds to your beneficiary’s account.

Demand Draft: Currency : INR, USD & AED

If a remittance is sent as a demand draft, the beneficiary can deposit it at the branch where the beneficiary holds an account. The draft will be sent to the Bank / Branch where it is payable for collection and on receipt of funds, the amount is deposited in the beneficiary’s account. Collection period varies depending on the country, local clearing regulations and location of the bank / branch where the draft is payable. If the remittance amount needs to be converted to any other currency, the exchange rate prevalent on the date of conversion will be applied. Collection charges will be as applicable from time to time.

For Details regarding Outward Remittance Charges, check out our Service Charges online

Inward Remittances

You can Repatriate your funds from India as well as from other part of the globe for credit to your Account with SBI Muscat

For Details regarding Inward Remittance Charges, check out our Service Charges online

Regulatory Guidelines for Remittances

\Available under the Link Central Bank of Oman and Reserve Bank of India