Conversion Rates

Sr. No.Currencies ConvertedRate (buy)Rate (sell)Date
01ZAR - INRBuy : 5.59Sell : 016/04/2014
02USD - ZARBuy : 10.35Sell : 10.7516/04/2014
03GBP - ZARBuy : 17.45Sell : 17.8516/04/2014
04Euro - ZARBuy : 14.35Sell : 14.7516/04/2014
05USD - INRBuy : 59.50Sell : 016/04/2014

* For remittances, commission & transmission charges would be charged extra.

A. The above conversion rates are valid only for the date mentioned
B. The rates are changed ,ordinarily, between 08.30 hrs. to 09.00 hrs.(RSA standard time)on all working days.
C. Remittance requests received up to 13.00hrs are included in the same day’s rate. Those received beyond 13.00 hrs. are remitted in the next working day’s rate.
D. The service charges for remittance are subject to change and are available in fee structure under quick link.
E. Account opening forms for Individual customer and Corporate customer are available under the link Personal banking and Corporate banking respectively. Customers desirous of opening account are requested to download the forms and visit the branch on any working day along with original KYC particulars(proof of identity and address).
F: In case of remittance to India, ordinarily, credit is afforded with a lag of one working day from the date of debit to the account in case of SBI account and two working days in case of accounts maintained with other banks other than SBI.
G: As per the exchange control directives, the email ID, phone / cell number, and physical address appearing in BOP form should tally with the same as in the Bank’s record failing which the remittance request shall not be entertained.