NRE account with higher USD to INR exchange rate

[nsbhavsar]

I am getting salary in USD directly credited to my NRE saving account and i am looking for any best bank for giving higher and comparative exchange rate, kindly suggest me

 

[arjungoyal12]

Have you tried SBI Bank? In which bank do you have an account for now?

 

[nsbhavsar]

Nope, I haven't tried in SBI Bank yet.
I have NRE account in IDFC First Bank.

 

[mkate]

What conversion rate is IDFC providing?

 

[prashanth]

The best I found so far are
PNB. ( No otp to email)
Canara bank
Bank of Baroda.

I Tried yesbank, axis, icici,
sbi ( worst that private banks - they give lesser exchange rates + service charge 100-200 and gst on service on top of that)

 

[yash0106]

I have an NRE account in SBI -
Remittance Charges - 20 $ (above 1000 USD and 10$ below 1000$)

Exchange Rate they give you 40p less than the current market rate
After conversion charges - 100rs + gst = 147.96 + flat 50Rs as commission

 

[mkate]

so what is the best one? I'll be getting some USDs too.

 

[yash0106]

so what is the best one? I'll be getting some USDs too.

As of now IDFC giving best rates.
So you can try that one.

 

[yash0106]

Just an update.

In Idfc if you get your salary credit for the 1st time they will charge 52p for a USD. Later it will be 26p. Also if you open your NRE account under IDFC wealth and select you will get an extra benefits. No lounge access on normal NRE saving acc.
Also if you have good relation with your RM the exchange rate will be as low as 10p.