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Sending money from Singapore to India

Banks or online providers, paying by PayNow, and why the money usually escapes Singapore tax.

Our top picks for SGD to INR

Ranked by total cost (exchange-rate margin + fees), delivery speed, and NRE/NRO support

Rates & fees auto-refreshed 5 October 2026 · Picks last verified July 2026 · Ratings follow our rating methodology. We may earn a commission from partner links — how we make money.

Best overall

Wise

4.5

The mid-market rate with the fee shown upfront, PayNow funding, and IMPS delivery straight into NRE accounts.

Pros

  • Mid-market exchange rate, no markup
  • PayNow funding — instant and free
  • IMPS delivery, often within minutes
  • Direct deposit to NRE accounts

Cons

  • Fee rises with card funding — use PayNow
  • Not always cheapest above SGD 10,000
Remit with Wise

Transparent fees and rates

Read our full review
Best for the SG-India corridor

InstaReM (Nium)

4

Headquartered in Singapore with a tight margin on SGD-INR, low fees, and same-day delivery to Indian accounts.

Pros

  • Very competitive on SGD-INR specifically
  • Low fees, sometimes zero on promos
  • Same-day delivery to Indian banks

Cons

  • Margin higher than Wise’s mid-market rate
  • Smaller brand than the big platforms
Best for DBS/POSB customers

DBS Remit

4

Zero transfer fees for DBS and POSB account holders with same-day delivery to India — hard to beat if you already bank with DBS.

Pros

  • No transfer fee for DBS/POSB customers
  • Same-day delivery to Indian banks
  • Everything inside your existing bank app

Cons

  • Only available to DBS/POSB customers
  • Margin higher than digital specialists
Best for speed & first transfer

Remitly

3.5

Express tier delivers in minutes and new-customer promotional rates often beat everyone for a first transfer.

Pros

  • Strong first-transfer promo rates
  • Express delivery in minutes

Cons

  • Standard SGD-INR margin higher than rivals
  • Promo rates end after early transfers
Read our full review

SGD to INR providers compared

India-side settlement, NRE support, and receiving bank fees

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PayNow funding is instant, free, and the recommended method. DBS Remit offers zero fees and excellent rates if you’re an existing DBS customer.

NRIWallah team

Updated September 2026

Singapore makes sending money home simpler than most places. Funding a transfer takes seconds, several local and international providers compete for SGD-INR, and the money you earn in India usually escapes Singapore tax altogether.

What a transfer costs

Every transfer has a fee, shown when you send, and a margin, which is the gap between the mid-market rate and the rate you are given. Some Singapore providers charge little or no fee and earn everything through the margin. On a SGD 10,000 transfer, a margin half a percentage point wider costs you SGD 50. Compare the rupees credited for the same dollar amount; our INR converter shows the live mid-market rate to measure against.

Paying by PayNow

PayNow moves money between Singapore accounts instantly using your mobile number, and most online remittance providers accept it. That means even if you bank with OCBC or UOB, you can fund a Wise or InstaReM transfer in seconds, usually at no cost. Card funding is also possible but adds a surcharge.

Banks or online providers

DBS, OCBC and UOB all send money to India from their apps. DBS Remit is the one to check first if you bank with DBS or POSB, because it is built for low-cost transfers to India with same-day delivery; confirm its current fee and rate before you rely on it. For customers of other banks, online providers usually beat the bank. InstaReM, which started in Singapore, competes closely on this corridor, and Wise gives the mid-market rate with its fee shown up front; see our Wise review .

Where the money should land

Money you earn in Singapore belongs in an NRE account. The interest is tax-free in India, and because Singapore does not generally tax an individual’s foreign income, it stays untaxed there too. Our NRI banking guide explains NRE and NRO accounts.

If you are a Singapore permanent resident, part of your pay goes into CPF, which you can only withdraw in full if you leave Singapore permanently and give up permanent residence. Plan your transfers around your take-home pay, and treat CPF as retirement savings rather than money to send home. Employment Pass holders do not contribute to CPF. The Singapore NRI hub covers CPF and tax in more detail, and our investment guide looks at what to do with the money once it arrives.

Rates and fees change often, so compare current figures before you transfer. NRIWallah may earn a commission from partner links; see how we make money . How providers are rated is set out in our methodology .

Common questions

Compare an online provider funded by PayNow with your own bank’s remittance service; if you bank with DBS or POSB, check DBS Remit too. Which is cheapest depends on the amount, so compare the rupees your family will receive for the same number of dollars.
Funded by PayNow, most online transfers reach India within hours to one business day, and same-day credit is common. Bank SWIFT transfers usually take one to three business days.
No. Sending your own money abroad has no Singapore tax consequence, and individuals are generally not taxed in Singapore on foreign income either. In India, gifts to close relatives are not taxed; if gifts from non-relatives add up to more than ₹50,000 in a financial year, the whole amount is taxable for the recipient.

Every rate and threshold here is sourced, dated and shown on the page — but tax rules change, and we would rather be told than be wrong. Reports go to the team that maintains the tool. If you can point at the official source, that gets it fixed fastest.

No account needed. We don't publish your email or add you to anything.

Prefer email? admin@nriwallah.com. How we source and review these numbers is set out in our methodology.

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