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Now digibank remittance open for purpose of overseas investment!

Introducing a new remittance feature on digibank by DBS, that enables you to invest in overseas equity/debt markets.

With digibank remittance, you can now send up to USD 250,000* abroad to financial institutions at most competitive FX rates & zero bank fee.


How to remit funds for investments in just a few clicks


Add overseas investment payee


Select the appropriate purpose description

Indian Portfolio Investment abroad in Equity Shares or Debt Instruments


Make sure you read and accept the Self-Declarations.
Its Done.

A Lot More Love, A Lot Less Trouble

No distance is too far to keep you from your loved ones. Keep love and life undelayed with digibank's effortless international fund transfers.

Effortlessly Easy

Sending love to those that matter is now easier than ever, with a little help from digibank Remit.


Same Day Transfers*

Zero Fees

More Room for Love

More love, more savings. Bridge the distance between you and your loved ones, with no extra or hidden costs and rates that’ll make you smile.

100% Credit to Recipient



Experience growth beyond borders by investing in international debt/equity markets. Our new feature enables you to remit not just to individuals, but institutions as well.




Remittance is best with digibank’s most competitive FX rates.

While you make overseas remittance of USD 25,000 , you will be able to save up to USD 300 (INR 24,000). Depiction of how you save-


digibank by DBS

Leading Indian Pvt Bank

Amount to send (in USD) 25,000 25,000
Conversion rate (In INR) 83.53 84.45
Total without Bank Fees (in INR) 20,88,250 21,11,250
Bank Fees (in INR) 0 1,000
Total amount remitted (in INR) 20,88,250 21,12,250
Total Savings with digibank (in INR) 24,000 -

*FX Conversion rate is taken as an average of FX rates offered by leading Indian private banks.
**FX rates within our app & other leading banks are refreshed as of 8th June’ 2023.

Whatever be the reason, you can count on digibank Remit!

Whatever your purpose for international fund transfers is, digibank Remit is made for you.

Overseas Education
& Sustenance
Jumpstart your child’s dream and ensure they’re settling in just fine with the perfect bank remittance

Make a special moment even more magical, by sending your love instantly, from miles away!

Care for Family AbroadAway, but never apart. Give your family the best of everything with quick, effortless outward remittance.

TravelMake the world your oyster, travel worry-free across more than 40 countries while digibank Remit takes care of your foreign remittance.

Simple, Safe, Delightful
- just how life should be!

Finest Bank

Safest Bank

Best Bank

Worried about the safety of your overseas money transfer? Your money and love are secure with us. digiPromise!

Wherever You Are, We’re There For You.

Transfers so quick, so easy, so effortless, you’ll wish we could transport you to your loved ones too!

How To Remit,
Unbank Style!

Log in to the digibank iBanking website

Click on Overseas Transfer

Click on Pay & Transfer

Not digibank user, but want in on the good stuff?

Download digibank

General Points
  1. Digi Remit is available only for Indian resident only.
  2. The maximum transaction limit is USD 25,000/day, maximum transaction limit per Financial Year is USD 2,50,000
  3. Same day transfer holds true only when transaction is initiated before the cut off time (before 11:30 AM)
  4. We guarantee full credit to the payee. Some banks may charge additional bank fee on incoming remittance on their discretion.
  5. In case of transaction rejection/fund reversal, GST & TCS charged is not refunded. You can claim the refund from ITR.
  6. Saturdays, Sundays & Maharashtra Bank Holidays are non-working days for foreign exchange transactions.
  7. Most banks in Canada have a 7-digit bank account number. Do exclude the 4-digit branch/transit code in the Recipient’s Account Number. Your remittance transaction may get rejected if beneficiary’s account number is in the wrong format.
  8. Online outward remittances can be made for the below purposes-
    • Studies abroad
    • Maintenance of close relatives and transfer to self-account overseas
    • Gift and personal donations 
    • Indian Portfolio Investment abroad in Equity Shares
    • Indian Portfolio Investment abroad in Debt Instruments
    • Donations for religious/charitable purpose
    • Business Travel
    • Travel to pursue education overseas
    • Travel for pilgrimage
    • Travel for medical treatment
    • Personal travel and payments for international credit cards settlements
    • Medical Treatment overseas
    • Emigration
Cut-Off Time

Cut-Off Time

Gone are days of stressfully marking days off the calendar until your money reaches another country. Simplify life for your loved ones abroad, no matter how far you are, with same day transfers, made possible by digibank. All you have to do is make a transfer before the cut-off time. In case a transfer is made after the cut-off time, the credit will happen on the next day.

Here are the cut-off times for the following countries:

Country IN (IST) Time for same day transfer
USA (in USD) 11:30 AM
Australia (in AUD) 9:00 AM
UK (in GBP) 11:30 AM
Eurozone (in EUR) 11:30 AM
Hong Kong (in HKD) 11:30 AM
Singapore (in SGD) 11:30 AM
Canada (CAD) 11:30 AM
Fees and Charges

Bank Fee


Bank Fee

1. USD to USA

2. GBP to United Kingdom

3. AUD to Australia

4. EUR to Eurozone

5. HKD to Hong Kong

6. SGD to Singapore

7. CAD to Canada




Rs. 0

Any other currency/country combination

Rs 500

Foreign Currency Foreign Exchange 

Currency Converter SGD to INR Rate
GST Charges

Amount of currency exchanged (ACE)

GST Rates

< Rs 1 Lakh

0.18% of ACE

Rs 1,00,001- Rs 10 Lakh

Rs 180 + 0.09% of ACE

>Rs 10,00,001

Rs 990 + 0.018% of ACE

Foreign Currency Foreign Exchange 

Currency Converter SGD to INR Rate
TCS Charges

Remittance amount

Purpose of remittance

TCS rates


            < Rs 7 lakh


Any purpose codes other than “Travel”

Rs 0

Travel purpose code

5% of remittance amt from Rs 1



            > Rs 7 lakh

Any purpose code

5% of remittance amt above Rs 7 Lakh during financial year

Study abroad purpose code where source of funds is “Education Loan”

0.5% of remittance amt above Rs 7 Lakhs during a financial year

As per Finance Act 2023, all outward remittances transactions under the Liberalized Remittance Scheme (LRS) are subject to new Tax Collected at Source (TCS) rates. This shall be applicable for all remittances done by a Resident individual.

Revised TCS rates applicable from 1st October 2023-

  Purpose Description

PAN- Aadhaar linked

PAN Aadhaar not linked/ ITR not filed

  Education & Medical treatment

1. Education where source of fund is LOAN

< = INR 7 lac – 0% ;  > INR 7 lac – 0.5%

< = INR 7 lac – 0% ;  > INR 7 lac – 5%

2. Education where source is OWN FUND

< = INR 7 lac – 0% ;  > INR 7 lac – 5%

< = INR 7 lac – 0% ;  > INR 7 lac – 10%

3. Medical Treatment & Health services

4. Travel for medical treatment

5. Travel for education

Travel purposes

1. Business travel

< = INR 7 lac – 5% ;  >INR 7 lac – 20%

< = INR 7 lac – 10% ;  >INR 7 lac – 20%

2. Travel for pilgrimage

3. Travel- holiday trips OR payments for settling international credit cards transactions

All other purposes



Eg- Gifts or donations, Family maintenance, Self-transfers, All forms of Investments overseas, Migrant transfers, etc

< = INR 7 lac – 0% ;  >INR 7 lac – 20%

< = INR 7 lac – 0% ;  >INR 7 lac – 20%

TCS deduction can be adjusted against your overall tax liability. TCS can be claimed in the income tax refund or credit can be availed at the time of filing the income tax return or for computing your advance taxes. Bank will provide the TCS certificate quarterly, which can be used for Income Tax Return filing.

Foreign Currency Foreign Exchange

Currency Converter SGD to INR Rate

What could possibly cause my transaction to be rejected?
  • Account not having sufficient funds. Account should be funded with full amount of remittance including GST+ Bank Fee (if any)+ TCS (if applicable)
  • Amount of transaction exceeding USD 25,000 or equivalent 
  • In case the annual LRS limit of USD 250,000 has been utilized
  • Remittance made to your own account overseas under purpose code “Gift” (instead use “Maintenance of close relatives & savings")
  • If incorrect or partial details of beneficiary/beneficiary’s bank has been provided.
  • In case of unauthorized / non-permissible transactions not allowed as per RBI Regulations

To check the exact status of transaction, please drop a mail to [email protected] or call on 1860 208 7368

Frequently Asked Questions

How do I send money overseas online?

Login to digibank ibanking and click on the 'Overseas Transfer' tab within 'Pay & transfer'. For adding new oversees payee, simply provide bank account details or 'Start a transfer' in case of already added payees. Once the payment request is successfully completed, a confirmation email/message will be sent to your registered mobile no. and email Id.

How do I add beneficiary/payee for overseas transfer through digibank Remit?

Once you log into digibank, oversees payee needs to be added before initiating an overseas payment. Basic details such as payee's full name, account number, bank details, etc. should be kept handy.

Ensure that you download and log into digibank at least once before you add a new overseas payee.

After the payee is set up, the newly added payee will be saved and you don't have to enter the details again during your next transfer.

What documents do I need to send money overseas?

You don't need any document for transferring money anywhere in the world with digibank. All required payment details and declaration are collected digitally during submission of the overseas transfer request on digibank ibanking. Please go through the terms and conditions and FEMA declaration that are provided on our website. You will have to agree and confirm applicable T&C and declaration before transaction submission and by virtue of you accepting these, it would be deemed that you agree to these.

Can I initiate an overseas transfer on the digibank app?

In accordance with extant law / regulation in India, currently, remittances overseas are not allowed on mobile application. You will be able to initiate an overseas transfer from digibank ibanking page which can be opened on your mobile.

What type of transactions / under what purpose can an overseas transfer be initiated through digibank Remit?

Money can be sent overseas for following purposes:

  • Maintenance of Family / Close Relatives Abroad
  • Education Abroad
  • Medical Treatment Abroad
  • Emigration
  • Other Travel (Including holiday trips & settlement of international credit card transactions)
  • Business Travel
  • Travel for Education (including fees, hostel expenses etc.)
  • Travel for Medical Treatment
  • Travel for Pilgrimage
  • Gifts / Donation
Under what circumstances the outward remittance request submitted may get rejected?
  • In case the account does not having sufficient funds
  • In case amount of transaction exceeds USD 25000 or equivalent
  • In case the annual LRS limit of USD 250,000 has been utilized
  • In case the beneficiary country is not part of “Permitted Country List”
  • In case the beneficiary is not part of the “Permitted Beneficiary List”
  • In case remittance being sent to your own account overseas
  • In case incorrect or partial details of beneficiary / beneficiary’s bank has been provided
  • In case of unauthorised / non-permissible transactions not allowed as per RBI Regulations
What is the minimum or maximum limit on overseas transfer initiated through digibank Remit?

The minimum limit per transaction for overseas transfer is of USD 10. The maximum transaction limit is USD 25,000 per transaction which is also the maximum daily transaction limit. The annual transaction amount limit is capped at USD 250,000 or equivalent.

The maximum limit of USD 250,000 or equivalent per year for transferring money abroad under Liberalized Remittance Scheme (LRS) is applicable for a customer for all transactions routed through all permissible channels / Authorised Dealers Banks (subject to any purpose specific limit specified by Reserve Bank of India).

Think That’s All?
There’s More Where That Came From!

Whether it’s smarter savings, better investments, easy personal loans, international fund transfers - your digibank is designed to help you live better. It’s so easy, it feels like magic!

digibank Personal Loan

Personal Loan

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Fixed Deposit

Fixed Deposit

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Recurring Deposit

Recurring Deposit

Make goal-oriented savings effortlessly at a higher interest rate!



Through thick and thin, we’ve got you covered with health insurance plans for the family, automobile insurance and travel insurance.

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