Transfer Money From Saudi Arabia to India - SBNRI

How to Send Money from Saudi Arabia to India

Individuals sending money from Saudi Arabia to India should always compare Saudi Riyal (SAR) to Indian Rupee (INR) remittance exchange rates. Funds can be transferred online or in cash depending on the service offered by a remittance service provider. Before selecting a service provider, you should check rates and read reviews of different operators. You can compare exchange rates online on SBNRI.com.

Factors to consider for fund transfer from Saudi Arabia to India

• Because of multiple choices, it can be really confusing to send money from Saudi to India. Hence, you must check and compare exchange rates, discounts, as well as fees charged by different service providers to secure the best deal.

• Compute the final amount that your recipient gets when you transfer funds from Saudi to India. By comparing multiple remittance service providers, you can maximize the amount of money your loved ones in India would get.

• Many fund transfer companies offer better exchange rates as compared to a bank, and charge lower fees. Hence, you can maximize the value of the money transferred so that your recipient in India gets the maximum amount.

Steps to Send Money from Saudi to India

Once you have decided the remittance service provider to send money to India from Saudi Arabia, you need to complete the following steps. While steps may vary from vendor to vendor, following are some common steps.

• Set up an account with the selected operator.
• You may need to submit some documents such as a photo ID and address proof for regulatory compliance.
• Add the details of bank accounts of both the sender and recipient.
• Pick a time when you want to send money.
• Mention the amount and start your transaction.
• Once the transaction is executed from your side, the operator will take up the transaction.
• You will be updated by the operator on the latest developments of your transaction.

NRIs living in Saudi Arabia or other parts of the Middle East can easily transfer money to their loved ones in India or other way around through the SBNRI. SBNRI has a tie-up with remittance service providers to facilitate instant online money transfer to/ from India at a nominal cost. You can use the currency converter to find out SAR to INR or INR to SAR conversion rate in seconds, before sending money to or from India.

TCS at the rate of 5% is applicable money transferred outside India under the Liberalised Remittance Scheme (LRS) of the RBI. However, NRIs can save TCS on foreign remittance.

We at SBNRI, track changes on a regular basis to help you with your remittances. Connect to our experts using the button below to get advisory on choosing the best time to remit money to/ from India capitalizing on the best exchange rates for INR to SAR or other way around. You can also get insights into the tax implication of remittance. Also, visit our blog and YouTube channel for more details.

FAQs

Does Saudi Arabia have Western Union?
Visit a Western Union agent location

With over 200 locations² in the Kingdom of Saudi Arabia, it's easy to find one nearby.

Can I send money from Saudi Arabia to India?
Transferring funds from Saudi Arabia to India is easy. All you need is access to internet or mobile banking facilities. Transferring money from Saudi Arabia to India with DBS Treasures also has other distinct advantages. You can get preferential exchange rates and faster transfers within 24 hours*.

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