How Do You Receive SAR (Saudi Riyal) Payments in India in 2026?

The table ranks platforms with full published pricing for SAR by the INR received on SAR 5,000, then lists other business platforms that accept SAR, unranked. Fees were checked on 30 Sept 2026 or later.

The real SAR to INR rate is the mid-market rate, the midpoint between buying and selling prices. Banks apply a TT buying rate below it, and card and platform rates add their own margin. For example, at an example mid-market rate of ₹23.50, a rate of ₹23.20 on SAR 10,000 pays ₹3,000 less. See what the mid-market rate means.

Today's rate, its history and every platform's payout are on the SAR to INR rate page.

Each row applies the platform's published fee, FX markup and 18% GST on the fee to the mid-market rate of ₹25.30 per SAR for 3 Nov 2026.

Yes, a person resident in India can hold export earnings in an EEFC account with an AD bank. Up to 100 percent of foreign exchange earnings received through normal banking channels, other than loans or investments, may be credited. The account pays no interest. Ask your AD bank whether it offers SAR as an EEFC currency. See EEFC account benefits.

• Eligibility: Any person resident in India with foreign exchange earnings can open an EEFC account under Schedule I to FEMA 10(R), as set out in para 3.1 of the Master Direction on Deposits and Accounts.
• Conversion rule: The Master Direction says monthly accruals should be converted into rupees by the last day of the next month, after adjusting for approved uses or forward commitments (para 3.1(6)). Ask your AD bank how it applies this.
• Uses: Balances can pay for current and capital account transactions abroad, and rupee withdrawals are allowed but cannot be credited back (para 3.1(2) and (3)).
• Alternatives: If your bank does not hold SAR, you can ask the Saudi client to pay in US dollars into a USD EEFC account, or convert each SAR receipt to rupees on arrival.

• Spot: Convert SAR to INR on the day the money arrives at the rate your bank or provider quotes. This is the simplest option and leaves you open to rate moves between invoice and payment.
• Forward contract: Book a forward with your AD bank against a real SAR export exposure. The amount and tenor cannot exceed the exposure under para 2.4 of the Master Direction on Risk Management. SAR-INR is not among the currency pairs permitted on Indian stock exchanges under para 3.2. See RBI hedging rules for exporters.
• Limit order: Some banks and providers let you set a target SAR to INR rate and convert automatically when it is reached. Availability and charges vary, so check with your bank or provider before relying on one.
• Natural hedge: If you pay SAR costs such as Saudi contractors or travel, you can keep the earnings in an EEFC account and pay those costs from it, as payments abroad are permitted debits under para 3.1(2).

SAR receipts follow the same export rules as any foreign currency. Saudi Arabia is not an ACU member, so payment may come in rupees or any foreign currency through an authorised bank. Since 1 October 2026, the FEMA (Export and Import of Goods and Services) Regulations, 2026 set realisation at nine months and require an EDF.

• Purpose code: Choose the code that matches the service, such as P0802 'Software consultancy/implementation (other than those covered in SOFTEX form)' or P1006 'Business and management consultancy and public relations services' from the RBI purpose code list. See P0802 purpose code.
• EDF: Service exporters file an EDF within 30 days from the end of the invoice month under Regulation 3(2). From 1 October 2026, A.P. (DIR Series) Circular No. 20 supersedes the earlier SOFTEX circulars, so software exports also use the EDF. See EDF form for exports.
• Realisation: The full export value must be realised within nine months of the invoice date, or 12 months if invoiced or settled in INR, under Regulation 5. See export realisation period.
• EDPMS: For invoices up to ₹10 lakh, your AD bank may close the EDPMS entry on your declaration under Regulation 4(2).
• FIRA: FIRA is not a term defined in RBI rules. GST refund rules refer to a BRC or FIRC issued by an AD bank under Rule 89(2)(c). See what FIRA means.

Rules and rails are linked to official sources below with the dates they were checked. Platform figures come from each platform's own pages, checked on 30 Sept 2026 or later, and RBI authorisation was checked against RBI's published list. Rates are XE live mid-market rates, dated 3 Nov 2026. The method is on the methodology page.

1. Foreign Exchange Management (Export and Import of Goods and Services) Regulations, 2026 (FEMA 23(R)/2026-RB), Regulation 3(2) EDF for services within 30 days from end of invoice month; Regulation 4(2) EDPMS closure on declaration up to ₹10 lakh; Regulation 5(1) nine months, proviso for INR invoicing or settlement; AD bank may extend (checked 8 Oct 2026)
2. A.P. (DIR Series) Circular No. 20 dated 16 January 2026, Supersedes the Master Direction on Export of Goods and Services and the SOFTEX circulars from 1 October 2026 (checked 8 Oct 2026)
3. Foreign Exchange Management (Manner of Receipt and Payment) Regulations, 2023, Regulation 3(2)(I)(a)(iii): countries other than ACU members, in Indian Rupees or in any foreign currency, through an Authorised Bank or Authorised Person (checked 8 Oct 2026)
4. RBI Master Direction - Deposits and Accounts, Para 3.1 EEFC account: credits of 100 percent of foreign exchange earnings; permitted debits; rupee withdrawals not re-credited; non-interest bearing; monthly accruals converted by end of next month after approved uses or forward commitments (checked 8 Oct 2026)
5. RBI Master Direction - Risk Management and Inter-Bank Dealings, Para 2.4(i) notional and tenor not to exceed exposure; para 3.2(ii) exchange-traded pairs USD-INR, EUR-INR, GBP-INR, JPY-INR, EUR-USD, GBP-USD, USD-JPY (checked 8 Oct 2026)
6. RBI Master Direction on Regulation of Payment Aggregators, PA-CB maximum value per inward or outward transaction ₹25 lakh; PA-CB to provide documents for EDPMS closure; settlement terms set in the PA and merchant agreement (checked 8 Oct 2026)
7. RBI A.P. (DIR Series) Circular No. 84 (2012), FETERS purpose codes for receipts, P0802 Software consultancy/implementation (other than those covered in SOFTEX form); P1006 Business and management consultancy and public relations services (checked 8 Oct 2026)
8. CGST Rules, Rule 89, Rule 89(2)(c): refund for export of services supported by BRC or FIRC (checked 8 Oct 2026)
9. IGST Act, 2017, Section 16, Section 16(1)(a) export of services is a zero rated supply; 16(3) supply under bond or LUT without payment of integrated tax (checked 8 Oct 2026)
10. CGST Rules, Rule 96A, Rule 96A(1): bond or Letter of Undertaking in FORM GST RFD-11 furnished prior to export (checked 8 Oct 2026)
11. Saudi Central Bank (SAMA): sarie instant payment system, sarie facilitates low-value transfers (equal or less than SAR 20,000) among local banks, processed instantly 24/7; supports alternative identifiers to IBAN such as mobile number (checked 8 Oct 2026)
12. Saudi Central Bank (SAMA): mada, mada, owned by SAMA, links point-of-sale devices, ATMs and e-commerce sites to a central payment system in the Kingdom (checked 8 Oct 2026)
13. IMF Executive Board Concludes 2026 Article IV Consultation with Saudi Arabia (Press Release 26/267), Press release dated 29 July 2026: Directors agreed that the currency peg to the U.S. dollar remains appropriate. (checked 8 Oct 2026)
14. RBI circular on timely credit of inward remittances (9 April 2026), Banks shall endeavour to credit inward payments received during forex market hours within the same business day, after-hours on the next business day, subject to FEMA; inform customers on receipt; effective six months from the circular date (checked 8 Oct 2026)
15. ZATCA Withholding Tax Circulars and Resolutions (unofficial English translation), Circular 3227/19 (2010): resident payor deducts tax at income tax law rates; where a tax treaty gives exemption or reduction, refund claimed with a residence certificate from the other state (checked 8 Oct 2026)
16. India-Saudi Arabia DTAA (Income Tax Department), Convention signed in 2006, in force from 1 November 2006; Article 7 Business Profits; Article 14 Independent Personal Services (checked 8 Oct 2026)
17. Razorpay MoneySaver Export Account (International Bank Transfers) pricing, Standard Plan: 0% FX markup, 1% fee, FlashLinks 2%, GST applicable, flat fee of INR 1,000 on transactions below INR 1,00,000, setup and AMC INR 0 (checked 6 Oct 2026)
18. Skydo homepage (pricing and fee calculator), Know what you pay; calculator showing GST 18% of transaction fee (checked 6 Oct 2026)
19. Stripe India pricing, International cards with USD/other currency presentment 4.3% + 2% if currency conversion is required; Mastercard and Visa cards issued outside India 3% + 2%; American Express outside India 3.5% + 2%; dispute received INR 1,000.00 (checked 7 Oct 2026)
20. HDFC Bank: Remittance Services Fees & Charges, Inward Remittance Charge: No Charge; FIRC Charge for Inward Remittance & FCY Cheque Collection INR 200 per FIRC; GST slabs on amount of currency exchanged (checked 6 Oct 2026)
21. Kotak Everyday Savings Account fees and charges, Foreign Inward Remittance certificate (Branch Request) INR 100/Request; GST on Foreign Currency Conversion; fees exclusive of GST (checked 6 Oct 2026)
22. Axis Bank: Inward Remittances (Business Banking) (checked 6 Oct 2026)
23. ICICI Bank - Inward trade remittances, Receive remittances in 24+ currencies; BIRC for export proceeds, FIRC for FDI/FII on request; funds credited within 1 hour of disposal instruction and documents (checked 7 Oct 2026)
24. Winvesta FAQ: What are the charges for the global collections account?, Up to 2,000 a month: 0.99% + a small fixed fee; 2,000-100,000 a month: custom pricing; above 100,000 a month: flat 0.2%; USD Collections: $3 + 0.99%; 18% GST will be levied on Winvesta fees for every non-JPMC account (checked 7 Oct 2026)