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Top 3 Money Transfer Providers for Saudi Arabia to India

Provider Amount Received Fee Exchange Rate Speed
Moneycorp Moneycorp INR 188,566.27 £0.00 18.8566 1-3 days more...
WorldFirst WorldFirst INR 189,041.25 £0.00 18.9041 1-3 days more...
Smart Currency Exchange Smart Currency Exchange INR 186,685.13 £5.00 18.6685 1-3 days more...
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Saudi Arabias currency, the Saudi riyal, is pegged to the US dollar (USD), and the exchange rate has been fixed at 3 Read More
There are few restrictions on transferring money to India, but the Reserve Bank of India (RBI) has begun enforcing an existing Foreign Exchange Management Act (FEMA) article that prohibits rupees from being taken out of India Read More
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Top 4 Money Transfer Providers

Latest prices for transferring money from Saudi Arabia to India
Exchange Rates as of 28 January 2020, 14:39


Est. 1979

One-off payments | Regular payments | Great rates | Safeguarded customer funds

More InfoLess Info
Amount Received
INR 188,566.27
SAR ﷼ 295.29
saved vs. banks


Est. 2004

Transparency and security | Great customer feedback rating from Feefo

More InfoLess Info
Amount Received
INR 189,041.25
SAR ﷼ 320.29
saved vs. banks

Smart Currency Exchange

Est. 2004
Smart is focused on helping clients to effectively and efficiently send and receive payments internationally
More InfoLess Info
Amount Received
INR 186,685.13
SAR ﷼ 196.28
saved vs. banks


Est. 2005
Established in 2005, RationalFX helps individuals and businesses achieve significant savings on international payments
More InfoLess Info
Amount Received
INR 186,776.37
SAR ﷼ 201.08
saved vs. banks
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How to Transfer Money from Saudi Arabia to India

Daniel Webber
Summary written by Daniel Webber


Saudi Arabia and India have a strong bilateral relationship forged on trade, the exchange of information, and defense strategy. The Saudi riyal is pegged to the US dollar and is fully convertible, while the Indian rupee is on a managed float. Saudi Arabia is home to almost two million Indian nationals, or about 7% of the population, which has driven an increase in international money transfers between the two countries. There are few restrictions that limit international money transfers from Saudi Arabia to India.

Visas and immigration

India has largely outsourced visa and consular services, making the process of obtaining a visa more efficient. Citizens of Saudi Arabia will require a visa to visit India for work, to study, to visit friends or family, and to conduct business.

A business visa is required by any person entering India for commercial purposes with an India-based company. In order to qualify for this type of visa, applicants must present a letter of request from both their Saudi company as well as the Indian company with which they intend to partner. For more information on visas for Saudi nationals, visit the website of the Indian Consulate.

People to people links

An increasing number of Saudi nationals are visiting India for purposes of tourism and for medical treatment. India boasts a high number of highly skilled physicians, cost effective medical care, and relatively fast service.

There are over 2 million Indian nationals residing in Saudi Arabia in various capacities; they make up the largest community of expats in the Saudi Kingdom. In 2014, 135,914 Indian nationals visited Saudi Arabia for the hajj, an annual Islamic pilgrimage to Mecca during the last month of the Islamic calendar. Additionally, about 300,000 Indians come to Saudi Arabia for Umrah each year, which is an Islamic pilgrimage to Mecca that can take place at any point in the calendar year.


In light of the growing community of Indian nationals in Saudi Arabia, there is a steady flow of remittance payments to India as expatriates send money home to their family or remit salary payments to an Indian bank account.

Banking, money, and taxes

The Indian banking system is constantly improving and is now more convenient and efficient for both national and international clients. Electronic banking is increasingly widespread, replacing paper-driven processes. Expats from Saudi Arabia have a mixture of banking institutions to choose from, including private, public, and international.

The leading local banks in India are HDFC Bank and ICICI Bank. International banks are increasingly popular with expatriates; some of the more common international banks in India include Barclay’s, HSBC, and Standard Chartered. In order to open an Indian bank account, Saudi customers must provide proof of identity, a copy of a Saudi passport, proof of address in India, and a copy of a residence permit for India.

Trade between India and Saudi Arabia

Saudi Arabia is India’s fourth largest trading partner and supplies India with approximately 175 million barrels of crude oil annually, which accounts for nearly a quarter of India’s need. Saudi Arabia is also the fourth largest market for Indian exports. India’s major exports to Saudi Arabia include basmati rice, machinery, garments and textiles. Saudi Arabia’s main exports to India include mainly metal scrap, gold, leather, chemicals, and oil.

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