What is the SBI International Money Transfer Limit per Financial Year?

Learn about SBI's international money transfer limits under the Liberalized Remittance Scheme and other transaction caps for 2024.

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State Bank of India (SBI) has limits on international money transfers, which can vary depending on the type of account and transaction. Generally, the cap for outward remittances under the Liberalized Remittance Scheme (LRS) is $250,000 per financial year. For other transfers, the limits may differ, so it's advisable to check with SBI or refer to official SBI guidelines for accurate and current information.

FAQs & Answers

  1. What is the maximum amount I can transfer abroad through SBI in a year? Under the Liberalized Remittance Scheme, SBI allows outward remittances up to $250,000 per financial year, but limits may vary based on transaction type.
  2. Does SBI have different limits for different types of accounts? Yes, SBI money transfer limits can vary depending on the account type and transaction method. It is best to check with SBI or their official guidelines.
  3. What is the Liberalized Remittance Scheme (LRS)? The Liberalized Remittance Scheme (LRS) is a framework under which Indian residents can remit up to $250,000 per financial year for permissible current or capital account transactions.

Watch More

For further information on international banking and remittance policies, explore our videos on SBI account benefits and RBI guidelines for outward remittances to stay updated with the latest financial regulations.

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