Remittance corridor · World Bank RPW · 2025Q1
Singapore → India
What it really costs to send money from Singapore to India, with the cheapest provider on record and the gap to the UN's 3% target.
- 2.6%
- Average cost
- 0.7%
- Cheapest · InstaReM
- $1.5B
- Annual volume
- 15
- Providers tracked
The verdict
At 2.6%, this is one of the more affordable corridors we track, cheaper than 93% of them, but the cheapest provider charges just 0.7% - switching saves about $3.92 on every $200 sent.
- 2.6%
- average cost of a $200 transfer
- -4.1pp
- vs the 6.7% average of 322 corridors
- Met
- gap to the UN 3% target
- $47/yr
- saved by switching to the cheapest, 12 transfers
Compared against the 322 corridors we actually track, not a generic headline figure.
How Singapore → India compares
Average cost of a $200 transfer, percent, lower is cheaper
2.65% average - target met
Cost trend: Singapore → India
Average and cheapest cost of a $200 transfer over time, percent
Sending Country
Receiving Country
Nearby Corridors from Singapore
Singapore sends through 8 corridors we track. Comparing them against the Singapore → India route shows whether this destination is cheap or expensive relative to that country's other outbound options.
| # | Destination | Avg cost | Cheapest |
|---|---|---|---|
| 1 | Pakistan | 2.9% | 1.0% |
| 2 | Philippines | 3.3% | 0.7% |
| 3 | Indonesia | 3.5% | 0.2% |
| 4 | Sri Lanka | 3.7% | 0.8% |
| 5 | Malaysia | 4.0% | 0.8% |
| 6 | China | 4.1% | 1.0% |
| 7 | Thailand | 4.5% | 1.1% |
| 8 | Bangladesh | 5.1% | 3.8% |
What the Singapore → India Data Tells Us
Sending money from Singapore to India currently costs an average of 2.65% of the transfer amount, according to World Bank Remittance Prices Worldwide (RPW) data as of 2025Q1. That is 4.1 percentage points below the 6.7% average of the 322 corridors we track, and well under the World Bank's reported global average of about 6.4% - a relatively affordable route. It also meets the UN SDG 10.c target of 3% or below, an outcome only a minority of the world's corridors currently achieve.
On the cheapest end of the market, InstaReM delivers this corridor at 0.69% - the floor price a Singapore-based sender can realistically access today. The full panel includes 15 tracked providers.
This corridor moves roughly $1.5B in remittances each year, so even a one-percentage-point reduction in cost would return tens of millions of dollars annually to families in India. Costs on this route have stayed essentially flat, moving 0.02 percentage points over the tracked period, unusual stability against the broader downward trend seen on most corridors.
Across the 53 quarters of World Bank RPW data on record for this corridor, the average cost has ranged from 1.7% to 8.2%, and 30 of those 53 quarters (57%) met the UN SDG 3% target outright. Quarter-to-quarter pricing on this route has swung considerably (1.16pp standard deviation across the full record) - worth checking the current quarter's reading specifically rather than relying on the long-run average.
Frequently Asked Questions
How much does it cost to send money from Singapore to India?
The average cost to send money from Singapore to India is 2.65% of the transfer amount, based on World Bank RPW data as of 2025Q1. The cheapest available option is 0.69% via InstaReM. Costs are calculated as a percentage of a $200 transfer and include both service fees and exchange rate margins.
What is the cheapest way to send money from Singapore to India?
Based on World Bank RPW data, the cheapest service for the Singapore to India corridor charges 0.69% - currently InstaReM. A total of 15 providers are tracked on this corridor. Always compare rates directly with providers before sending, as prices change frequently.
Is the Singapore to India corridor meeting the UN SDG cost target?
Yes. At 2.6%, this corridor already meets the UN Sustainable Development Goal 10.c target of 3% or below, an outcome only a minority of the world's tracked corridors currently achieve.
Source: World Bank, Remittance Prices Worldwide (RPW) Database (2011-2025) World Bank, Remittance Prices Worldwide (RPW) Database (2011-2025)
Read our methodology - how this data is sourced, computed, and verified.
Every figure on PlainRemit is rendered directly from World Bank Remittance Prices Worldwide (RPW) data, no number is typed in by an editor. This page draws directly on World Bank Remittance Prices Worldwide (RPW) data, no figure is typed in by an editor. See our editorial standards & corrections policy, the methodology behind these numbers, or report a data error.