Skip to content
IndiaCorridorFree toolsAboutSubscribe
Menu
HomeIndiaCorridorFree toolsAbout
Free tool · no signup · nothing you type leaves your browserAll free tools

What did that transfer home really cost?

The fee says zero. The exchange rate says otherwise. This measures one transfer the way the World Bank does: the fee plus the markup in the rate, as a share of what you sent.

By · every number checked at its source · how we verify

The calculator

Money between India and Europe

Type one quote, from anywhere in Europe. Rates are always rupees per unit of your currency (₹ per €, ₹ per £, ₹ per SEK), in both directions. Pick your country and the date of your quote, and the reference rate fills itself in: it's the European Central Bank's daily reference rate, which covers the rupee and every major European currency. Prefer the RBI's reference rate or your own bank's? Type over it.

To fetch that rate, your browser asks Frankfurter, a free service that republishes the ECB's rates, for one currency and one date. Your amounts, fee and quoted rate never leave your browser.

Your transfer, priced

Fills in from the ECB for your currency and date. You can type over it.

The World Bank's method: fee plus exchange-rate margin, as a share of the amount sent. To India: markup = (reference − your rate) ÷ reference. From India: markup = (your rate − reference) ÷ your rate.

Worked example

From Corridor #01

You send €1,000 home. The ECB reference rate that day is ₹108.8205 (30 September 2026). Your app quotes ₹102 and charges no fee. Your family gets ₹1,02,000 instead of ₹1,08,820.

€1,000, "zero fee"Cost
Markup hidden in the rate6.27%
Cost in euros€62.68
Cost in rupees₹6,820.50

How does that compare? The World Bank prices small transfers to India from four European countries. Same job, very different bills, and almost none of it shows on the fee line.

Sending about $200 to India fromAverage total cost
United Kingdom (£120)1.91%
Italy (€140)3.97%
France (€140)6.33%
Germany (€140)6.53%

Source: World Bank Remittance Prices Worldwide, Q3 2025 survey (August–September 2025): UK, Italy, France, Germany. We found no published figure for other European countries. The UN's goal is under 3%.

Illustrative, our calculation. No provider, bank or app named.

Get the sheet

Free
Google Sheet · Excelv1.1 · 16 Oct 2026 · CC BY 4.0

Remittance true-cost calculator

You enter: direction, your country in Europe, amount, fee, the rate you were quoted, and the day's reference rate.
It shows: the markup hidden in the rate, the total cost in rupees and in your currency, and how it compares with the World Bank average for your country, where one exists. One row per quote: the lowest total cost % is the cheapest, whatever the fee line says.
It won't: name, rank or recommend a provider, bank or app, or guess where the rate goes.
✓ No scripts · no add-ons · no signup
Make a copyDownload .xlsx

Known limits

Read these first
  • The reference rate is a mid-market rate. Nobody gets it exactly, so a cost of zero would be a surprise.
  • TCS (tax collected at source in India) can be claimed as credit when you file, so it isn't a pure cost. That's why it's shown apart.
  • Rates move during the day. Compare quotes taken at the same time.
  • The comparison figures are the World Bank's averages for small transfers to India from the UK, Italy, France and Germany (Q3 2025 survey). They're dated, cover one direction only, and we found none for other European countries.
  • It ignores fees charged by the receiving bank. Add them to the fee if you know them.

Tested against four hand-checked cases (v1.1, 16 October 2026).