FAQ on Remittance Facility to India
Who can avail the remittance facility?
Any individual account holder of SBI, Maldives, desirous of sending money to a person maintaining an account with any branch of State Bank of India, its Associate banks in India or any other Bank branch with IFSC code (11 digit IFSC code can be obtained from the related bank's branch in India).
Do I need to open an account with SBI, Male'?
Yes, we are only accepting application for online remittance to India from our account holders for remitting money by debiting their accounts maintained with us
What does one have to do to send the money?
All one needs to do is, to fill up the application form 'INR Remittance Application' (available in 'Downloads' section on our Website) and submit it over the counter or drop in the drop box available at SBI branch or send it by post or courier to Chief Manager (Remittance), State Bank of India, H.Sunleet, Boduthakurafaanu Magu, Male'.
Now, customers can register Standing Instruction (SI) for sending fixed amount every month to their designated overseas (India or any other country) whereby Bank will remit every month on a designated day/date by debiting local account without asking for Remittance Application Form. Please refer to Standing Instructions details available elsewhere on the Website.
Can the money be sent to any account in India?
Yes. The money can be transferred to any account with a branch of the State Bank of India, its Associate banks in India or any other bank branch with IFSC code. (other than PPF Account).
What details does on have to provide for sending the money?
One must correctly mention the following details in the application form:
- Name of the person who is to receive the money.
- Correct core banking account number of the person receiving the money.
- Name and code number of the State Bank/State Bank of India's Associate Bank's Branch, IFSC code of any other Bank Branch, where the money is to be sent.
- Sender's mobile No., Passport No., Work Permit No.
- Purpose of sending money and whether amount mentioned includes or excludes charges.
- Sender's Account number.
What are the charges one has to pay for the facility?
Please visit 'Service Charges and Fee' menu on the Home Page for details.