Best Bank Account for Inward Remittance

[WhoU]

I have HDFC salary and BOB savings account. I get RSUs and ESPPs and sell them to get money in my Indian account.

I use inward remittance quite often and HDFC is a pain with calling RM and asking them to get approval for better rates etc.

Do you guys have experience with this? Which bank gives best inward remittance rate with no manual process involved?

 

[ranjanpr17]

Can you please clarify whether the 50ps is over the published website rate or IBR – 50 ps?

For Axis burgundy account, they can get deviation. The rate is never close to IBR but 0.5 rs above the published TT Buy rate on its website which would still be less than IOB's rate. Also deviation can be taken for remittance more than 10k USD. Besides you will have to pay a charge on top of forex charges.

In my experience, best is Indian Overseas Bank. They have flat 400 rs processing charge on any amount and highest TT Buy rate among all Indian banks as published. As per some other members here, for deviation in case of higher amount (> 10k USD) you can directly contact their treasury through email and make it close to IBR rate.