CHART ON SERVICE CHARGES (Updated on 14.10.2009) |
The undermentioned Service Charges are inclusive of Service Tax and Education Cess, wherever applicable.
50% additional charges will be recovered from Non Customers. Postage and out of Pocket Expenses, if any incurred, to be recovered.
Minimum Balance :
1.1 Saving Bank Accounts :
Category of Branches | With Cheque Facility | Without Cheque Facility |
Rural & Semi Urban | Rs. 500/- | Rs. 100/- |
Others | Rs. 1,000/- | Rs. 500/- |
Pensioner’s Account | Rs. 250/- | Rs. 5/- |
1.2 No Frills Account ( Savings Bank Account ) :
1.3 Current Accounts :
Category of Branches | Tiny and Village & Cottage Industries | Others |
Metro and Urban | Rs. 1,000/- | Rs. 2,000/- |
Others | Rs. 1,000/- | Rs. 1,000/- |
2. Charges for Non Maintenance of Minimum balance :
a) Savings Bank Accounts |
Rural & Semi Urban | Rs. 6/- per month in rural and Semi Urban Branches |
Urban & Metro | Rs. 11/- per month in Urban & Metro branches |
b) Current Accounts | Rs. 56/- per month irrespective of number of defaults in a month. |
C) No Frills Accounts | Nil |
3. Outward/Inward Cheques / Bills, issue of DD/TT/MT, etc.,
A. Outward / Inward Collection of Cheques / Instruments (Outstation cheques, demand drafts, interest warrants, dividend warrants, refund order, Income tax refund orders, Local / Outstation collections from Treasury, Post Offices and Collection of Cheques sent through National Clearing)
Upto Rs.10000 | Rs.10001/- to Rs. 100000/- | Rs. 100001/- and above |
Rs. 5/- per thousand with a minimum of Rs 20/- and maximum of Rs.50/- | Rs. 100/- per instrument | Rs. 150/- per instrument |
B. Outstand Collection of Cheques through Speed Clearing
| For Cheques upto Rs 1,00,000/- | For Cheques for Rs. 1,00,001 /- and above |
| NIL | Rs. 150/- per instrument. |
C. Outward / Inward Collection of Bills (Clean, Documentary, Demand/Usance including supply bills)
| Upto and inclusive of Rs.1000 | Above Rs.1000 and upto Rs.5000 | Above Rs.5000 and upto Rs.10000 | Above Rs.10000 and upto Rs.1 Lakh | Above Rs.1 Lakh and upto Rs.10 Lakhs | Above Rs.10 Lakhs |
NR | 17 | 22 | 34 | Rs.4.50 per Rs.1000/- or part thereof | Rs.4.50 per Rs.1000/- or part thereof Max. Rs.2240/- | Rs.4.50 per Rs.1000/- or part thereof Max. Rs.11200/- |
R | 14 | 18 | 27 | Rs.3.60 per Rs.1000/- or part thereof | Rs.3.60 per Rs.1000/- or part thereof Max. Rs.1792/- | Rs.3.60 per Rs.1000/- or part thereof Max. Rs.8960/- |
4. Issuance of DD/MT/TT and Collection of Outstation Deposit Receipts on Maturity
| Upto and inclusive of Rs.1000 | Above Rs.1000 and upto Rs.5000 | Above Rs.5000 and upto Rs.10000 | Above Rs.10000 and upto Rs.1 Lakh | Above Rs.1 Lakh and upto Rs.10 Lakhs | Above Rs.10 Lakhs |
NR | 11 | 17 | 22 | Rs.1.70 per Rs.1000/- or part thereof Min.Rs.25/- | Rs.2.25 per Rs.1000/- or part thereof Max. Rs.2240/- | Rs.2.25 per Rs.1000/- or part thereof Max. Rs.2240/- |
R | 9 | 14 | 18 | Rs.1.40 per Rs.1000/- or part thereof Min-Rs.18/- | Rs.1.80 per Rs.1000/- or part thereof Max. Rs.1792/- | Rs.1.80 per Rs.1000/- or part thereof Max. Rs.1792- |
5.Local Collection of Deposit Receipts on Maturity
| Upto and inclusive of Rs.1000 | Above Rs.1000 and upto Rs.5000 | Above Rs.5000 and upto Rs.10000 | Above Rs.10000 and upto Rs.1 Lakh | Above Rs.1 Lakh and upto Rs.10 Lakhs | Above Rs.10 Lakhs |
NR | 6 | 17 | 22 | Rs.1.70 per Rs.1000/- or part thereof Min.Rs.22/- | Rs.1.10 per Rs.1000/- or part thereof Max. Rs.840/- | Rs.1.10 per Rs.1000/- or part thereof Max.Rs.1344/- |
R | 5 | 13 | 18 | Rs.1.35 per Rs.1000/- or part thereof Min.Rs.18/- | Rs.0.90 per Rs.1000/- or part thereof Max. Rs.672/- | Rs.0.90 per Rs.1000/- or part thereof Max. Rs.1075/- |
6. Charges for ECS (Electronics Clearing System)
Debit and Credit (both) – For Individual | Nil |
Sponsor Bank Charges from Corporate Users | Rs. 1/- per transaction (per record) + RBI chrages(presenlty Nil), if any |
Returns – Individuals and Corporate Users | Upto Rs. 10000/- |
Above Rs. 10000/- to Rs. 100000/-
| Above Rs. 100000/- |
| Individuals | Rs. 30/- | Rs. 100/- | Rs. 150/- |
| Corporate | Rs. 50/- | Rs. 100/- | Rs. 150/- |
7. Charges for NEFT (National Electronic Funds Transfer)
Outward | Upto Rs. 100000/- | Rs. 100000/- and above |
| Rs. 5/- | Rs. 25/- |
Inward | Nil |
8. Charges for RTGS Transactions ( Outward Remittances)
(Service Tax and Education Cess as applicable)
For Rs. 1/- to Rs. 5 lakhs | For Rs. 5 lakhs and above |
Rs.25/- | Rs. 50/- |
8.1 Charges for RTGS Transactions (Inward) – NIL
9. Processing Charges
For all types of advances including terms loans (initial processing, renewal and on adhoc increase) 1. Fund Based
Category | Processing Charges |
1. Short Term Agriculture Loans (KCC & Crop Loans) for credit limit up to Rs. 3 Lakhs | Nil |
2. Short Term Agriculture Loans (KCC & Crop Loans) for credit limit above Rs. 3 Lakhs | Rs.134/- per Lakh & part thereof over and above Rs.3 Lakhs limit |
3. Agriculture Term Loans | Area | Upto Rs. 25,000/- | Above Rs.25000/- & upto Rs. 2 Lakhs | Above Rs.2 Lakhs |
Non Rural | Nil | Rs. 168/- | Rs.168/- per Lac or part thereof |
Rural | Nil | Rs. 134/- | Rs.134/- per Lac or part thereof |
4. Agriculture Jewel Loans | Nil |
5. Jewel Loans to Others | 1.15% of the loan amount (inclusive of Service Tax/Education Cess) |
6. Directly linked SHG/JLG | Nil |
7.All Govt. sponsored schemes like SGSY,SJSRY,etc., irrespective of loan amount | Nil |
2. Others
Non Rural / Rural | Amount Upto Rs.25000 | Above Rs.25000 and upto Rs.2 Lac | Above Rs.2 Lacs |
NR | NIL | 168/- | Rs.168/- per Lac or part thereof (*) |
R | NIL | 134/- | Rs.134/- per Lac or part thereof (*) |
With a maximum of Rs. 8.50 Lacs per individual / borrowing unit for working capital advances and not for Term Loans.
10. Upfront Fee
11. Non Fund Based
Non Rural / Rural | Amount Upto Rs.25000 | Above Rs.25000 and upto Rs.2 Lac | Above Rs.2 Lacs |
NR | NIL | 84/- | Rs.84/- per Lac or part thereof (*) |
R | NIL | 67/- | Rs.67/- per Lac or part thereof (*) |
(*) Without any ceiling
12. Evaluation fee / Processing charges - for Agricultural Advances only, except IRDP
Initial Processing / Renewal / adhoc increase | 0.56% of the Total outlay / Project Cost |
13. Processing Charges - Subhagruha & other Housing Finance Schemes
1.50% of the Loan amount Maximum Rs.30000/- |
14. Charges for Bills (Local) Returned unpaid (Both Inward / Outward)
Non Rural | Rs.34/- per instrument |
Rural | Rs.27/- per instrument |
15. Charges for Local Cheques Returned unpaid (Both Inward / Outward)
16. Charges for Outstation Bills / Local Bills / Inward Bills for Collection delivered free of payment to the drawee of the Bill
Non Rural | 50% of the collection charges subject to a minimum of Rs.28/- per Bill / Instrument |
Rural | 50% of the collection charges subject to a minimum of Rs.22/- per Bill / Instrument |
17. Charges for Cheques Returned unpaid
| Upto Rs. 10000/- | Rs. 5/- per thousand with a minimum of Rs. 20/- and maximum of Rs. 50/- |
| Rs. 10001/- to Rs. 100000/- | Rs. 100/- per instrument |
| Rs. 100001/- and above | Rs. 150/- per instrument |
18. Gift Cheques - Nil
19. Travellers Cheques and issue of fresh Travellers Cheques in lieu of Lost TC
Re.0.60 per Rs.100/- with a min. of Rs.6/- per sale. However exchange should be calculated on the total value of cheques sold at any point of time |
20. Mortgage Charges
(from borrowers in respect of mortgage of properties by the borrowers / third parties either by equitable mortgage by deposit of title
deeds or registered mortgage for securing the credit limits)
Category of Advance / Type of Security |
Priority Credit |
(Prime or Collateral) |
All priority credit advances (including SSI), all types of housing loans, educational loans and Liquirent schemes | NIL |
Non Priority Credit - Fund Based and Non Fund Based Limits |
(Collateral Security) |
Where land / or building property are taken as collateral security | NIL |
(Prime Security) |
At the time of creating mortgage for the first time, irrespective number of properties offered | 0.56% of the Fund Based / Non fund based limit with a minimum of Rs.560/- Max. Rs.5600/- |
When enhanced limit is sanctioned with residual value of the same property / additional property, then Charges for enhanced limit only | 0.56% of the Fund Based / Non Fund based limit with a minimum of Rs.560/- Max. Rs.5600/- subject to the prescribed overall maximum of Rs.5600/- |
Note : No Mortgage Charge need be collected for existing mortgages at the time of renewal of limits.
21. Rental charges on Collection of Bills received under Post Parcel
Rs.2.25 per parcel per week or part thereof |
22. Charges for Transfer of Funds from the Account of Co-operative Bank at one center to the other
Quantum of Amount | Charges |
a) Amounts upto Rs.5000/- | 4 Ps % Min. Re.0.30 Ps |
b) Amounts above Rs.5000/- | 3 Ps % Min. Re.1.70 Ps |
23. Charges for ABB transactions
Non Rural / Rural | Charges |
For Cash Credits / Current Accounts | Rs.56/- per transaction (Maximum) |
For Savings Bank Accounts | NIL |
24. Charges of Cheque Books request through ATM
25. Charges for Ledger Folio
Non Rural | Rs.56/- per ledger page, with free pages as below |
Rural | Rs.45/- per ledger page, with free pages as below |
Average Credit balances | Free Ledger pages (per annum) |
Upto Rs.25000 | NIL |
Above Rs.25000 upto Rs.50000 | 3 |
Above Rs. 50000 up to Rs. 1 lakh | 5 |
Above Rs. 1 lakh up to Rs. 2 lakhs | 10 |
Above Rs. 2 lakhs | No charges |
26. Personal Accident Insurance Facilitation Charges
Rs. 9/- per account per annum for the sum assured amount of Rs. 1,00,000/-
27. Charges for Inland Guarantee 27.1 Performance Guarantees
Non Rural | Rs. 112/- plus 0.56% per quarter or part thereof with a minimum of 1.20% |
Rural | Rs. 90/- Plus 0.45% per quarter or part thereof with a minimum of 0.90%. |
27.2 Other than Performance guarantees
Non Rural | Rs. 112/- plus 0.85% per quarter or part thereof with a minimum of 1.70% |
Rural | Rs. 90.00 Plus 0.70% per quarter or part thereof with a minimum of 1.40%. |
28. Minimum Guarantee Commission
Non Rural | A flat fee of Rs.112/- +charges applicable for 6 months. |
Rural | A flat fee of Rs.90/- +charges applicable for 6 months. |
Concessions
If the letter of guarantee is secured by 100% by way of cash margin 25 % of normal charges (opening charges) will be collected. If the Guarantee is secured by 100%margin by way of Term Deposits and if the Guarantee is more than 10 Lakhs also similar concessional charges is to be collected subject to the condition that Deposits should be accepted only at the card rate and any refund of commission should be avoided.
29. Service Charges on Inland Letter of CreditsThe following charges, with a minimum of Rs. 100/- and out of pocket expenses such as postages, telephones, telegrams, telexes, cables, etc. should be collected. A usance charge according to the tenor of the bill at the rate of
i) 0.20% for bills up to 7 days sight ii) 0.40% for bills over 7 days’ and up to 3 months’ sight iii) 0.40% for the first 3 months plus 0.20% p.m. in excess of 3 months (for bills over 3 months’ sight) AND A commitment charge for the period of liability (from the date of opening of credit to the last date of its validity) at the rate of 0.20% for every period of 3 months or part thereof
29.1 Charges for Revolving Letter of Credit
i) Usance charge according to tenor as stated above ii) Commitment charge on the L/C amount at the rate of 0.20% (minimum Rs.100/-) for every period of 3 months or part thereof for the period of liability from the date of opening of the credit to the last date of its validity. iii) On each reinstatement, usance charges according to tenor as stated above and commitment charge of 0.20% being the minimum (min. Rs. 100/-) on reinstated amounts only.
29.2 Charges for Advising Letter of Credit
When advising letters of credit opened by Correspondent banks (including Letter of Authority, orders to negotiate), commission at 0.05% of each L/C minimum Rs. 100/-, if such credit does not carry confirmation. A flat rate of rs. 100/- for advising each amendment to the L/C.
29.3 Charges for Confirmation of Letter of Credit Commitment charge for the full validity of the credit at the rate of 0.20% for every quarter or part thereof, with a minimum of Rs. 100/- and usance charge according to the tenor, as stated above. 29.4 Charges for Transferable Letter of credit A flat charge of Rs. 100/- for each separate advice of transfer, except when the name of the beneficiary of the credit is changed on instructions received directly from the opening bank. On all letters of credit calling for usance drafts to be drawn on and accepted by banks, an acceptance commission at the rate of 0.20% p.m. with a minimum of Rs. 100/- p.m. 29.5 Negotiation Charges i) For bills up to Rs. 2.50 lakhs @ 0.40% with a minimum of Rs. 100/- For bills over Rs. 2.50 lakhs @ 0.25% with a minimum of Rs. 1,000/- PLUS ii) Discount at applicable rate of interest from the date of negotiation to the date of reimbursement.
29.6 Charges on account of discrepancies in documents
A commission of 0.25% with a minimum of Rs. 100/- . No such charge, if money received under reserve at the request of the customer is not parted with.
29.7 Charges for Clean Payment
A flat charge of Rs. 100/- for the beneficiary’s bank for receiving clean payment.
29.8 Charges for Certificates Attestation of invoice at the time of negotiation/collection, at free of charge. For subsequent attestation of invoices, Rs. 10/- per invoice, minimum Rs. 20/- on each and every occasion.
29.9 Concessions If the letter of credit is secured by 100% cash margin, 25 % of normal charges (opening charges) will be collected.
CHARGES FOR MISCELLANEOUS SERVICES
30. Issue of Duplicate Statement of Account
Non Rural | Rs. 22/- per ledger page |
Rural | Rs 18/- per ledger page |
31. Issue of Duplicate Pass Books
Non Rural | Rs. 22/- per ledger page with latest balances only. For previous entries additional charge of Rs. 23/- per ledger page or part thereof. |
Rural | Rs. 18/- per ledger page with latest balances only. For previous entries additional charge of Rs. 18/- per ledger page or part thereof. |
32. Stop Payment Instructions
Non Rural | Rs. 22/- per instrument/cheque |
Rural | Rs 18/- per instrument/cheque |
33. Standing Instructions
Non Rural | Rs. 11/- per transaction |
Rural | Rs 9/- per transaction |
34. Issue of duplicate Term Deposit Receipt.
35. Issue of Duplicate Draft / Bankers Cheques / Pay Orders
Non Rural | Rs. 34/- per instrument |
Rural | Rs 27/- per instrument |
36. Revalidation of Duplicate Draft / Bankers cheques / Pay Orders
Non Rural | Rs. 17/- per instrument |
Rural | Rs 13/- per instrument |
37. Issue of Deposit at Call Receipt
Non Rural | Rs. 28/- per instrument |
Rural | Rs. 28/- per instrument |
38. MICR Cheques charges at MICR & Non MICR Centres
Rs. 2.25 per MICR Cheque Rs. 2.25 per MICR Cheque |
39. Non MICR Cheque charges
Rs. 1.15 per Non MICR Cheque Leaf at the time of issue | Rs. 1.15 per Non MICR Cheque Leaf at the time of issue |
40. Charges for issue of Multicity Cheques
Multicity Cheques in Book form with a minimum of 50 leaves or 100 leaves | Rs. 2.50 per leaf |
Multicity Cheques in computer compatible continuous stationery format with a minimum requirement of 1000 leaves | Rs. 10.00 per leaf |
Multicity Cheques in computer compatible continuous stationery format with a requirement of more than 1000 leaves | Rs. 8.00 per leaf |
41. Cash Handling Charges (depositing cash into CA/CC/Overdraft Accounts)
SLAB | CHARGES |
First 10 sections of Rupee notes (1000 pieces) irrespective of denomination | Nil |
From the eleventh section | Rs. 5/- per section or part thereof |
42. Charges for Unremunerative Current Accounts
A flat rate of Rs. 22/- p.a. in addition to ledger folio charges in force | A flat rate of Rs. 22/- p.a. in addition to ledger folio charges in force |
43. Charges for inoperative Savings Bank Accounts
A levy of Rs. 22/- per half ending September / March, if such SB Accounts remain inoperative even after one month of the notice sent to the account holders. If the balance is Rs. 22/- or less entire balance is to be transferred to Branch P & L account after closing the account. |
44. Charges for verification of signatures of account holders.
A flat rate of Rs. 11/- per verification. |
45. Charges for Godown Inspection / consortium Meetings.
Category |
Executives | Rs. 141/- per hour |
Officers | Rs. 68/- per hour |
Clerical Staff | Rs. 34/- per hour |
46. Inspection charges / Other charges in respect of Priority Sector Advances
Credit Limit |
For Limit upto Rs. 25000/- | NIL |
For Limit above Rs. 25000/- | Actual charges incurred for inspection of farms / contacting borrowers. |
47. Charges for issue of Credit worthiness Certificates / solvency Certificates
Quantum of Amount |
a) Upto Rs. 2 lacs | Rs. 225/- per certificate |
b) Above Rs. 2 lacs | Rs. 112/- per lac or part thereof with a maximum of Rs. 28300/- per certificate. |
48. Charges for issue of Credit reports / Opinion on parties to other banks
A flat rate of Rs. 56/- per certificate |
49. Charges for Enquiries relating to Old Records.
A flat rate of Rs. 11/- per query and a flat rate of Rs. 11/- per each year of query. |
50. Charges for Safe Deposit Locker visit / operations
A charge of Rs. 28/- per each operation over and above 24 free operations allowed in a calendar year. |
51. Charges for Safe Custody
Category |
Sealed covers
(keys, wills and other papers sealed in a single envelope) | Rs. 34/- per annum or part thereof according to the size, payable in advance. |
b) for temporary withdrawal | Rs. 11/- for each occasion |
c) Sealed Boxes | Rs. 112/- per quarter or part thereof according to the size, payable in advance. |
d) Small Packages | Rs. 56/- per quarter or part thereof according to the size, payable in advance. |
e) Bank’s own Deposit Receipts | No charges |
52. Charges for Lodgment and substitution of Shares.
A levy of Rs. 28/- per scrip subject to a minimum of Rs. 113/- at the time of each lodgment, substitution for all types of advances granted against the security of shares either as Prime or collateral. |
53. Annual Charges for ATM VISA Debit Card
Issue of New Card | No Charges |
Renewal of Cards | No Charges |
Annual Fee | No Charges |
Re-issue of Lost/Stolen/Damaged Card | Rs. 100/- |
Re-issue of PIN | Rs. 20/- |
For transactions at InstaCash ATMs | No Charges |
54.1. Transactions at VISA / Plus ATMs
Cash Withdrawal Domestic | Cash withdrawals by SB Account holders from other Bank ATMs- Up to 5 transactions free.
Rs. 20/- per transaction thereafter. No free transactions for other than SB Account holders. All transactions will be charged at Rs. 20/- per transaction.
Withdrawal of cash from other Bank ATMs is restricted to Rs.10,000/- per transaction. |
Cash Withdrawal at International | Rs. 100/- |
Balance Enquiry Domestic | Free |
Balance Enquiry International | Free |
54.2 Transactions at Cash Tree ATM Network
Financial Transactions | Cash withdrawals by SB Account holders from other Bank ATMs- Up to 5 transactions free.
Rs. 20/- per transaction thereafter. No free transactions for other than SB Account holders. All transactions will be charged at Rs. 20/- per transaction.
Withdrawal of cash from other Bank ATMs is restricted to Rs.10,000/- per transaction. |
Balance Enquiry | Free |
54.3 Transactions at NFS ATM Network
Financial Transactions | Cash withdrawals by SB Account holders from other Bank ATMs- Up to 5 transactions free.
Rs. 20/- per transaction thereafter. No free transactions for other than SB Account holders. All transactions will be charged at Rs. 20/- per transaction.
Withdrawal of cash from other Bank ATMs is restricted to Rs.10,000/- per transaction. |
Balance Enquiry | Free |
54.4 Merchant / Internet Transactions
For usage at Merchant Establishments | No Charges |
For Internet Payments | No Charges |
For usage at Petrol Pumps | Surcharge of 2.5% of transaction amount or Rs.10/-(whichever is higher) |
For usage at Railway Stations or booking train tickets through Internet | Surcharge of 2.5% of the transaction amount. |
55. Safe Deposit Locker Rent (Amount In Rupees)
Type | Size in cubic inches | Rural/Semi Urban | Metro / Urban | Staff at all Centres |
A | 539 | 400 | 800 | 300 |
B | 858 | 600 | 1100 | 350 |
C | 1186 | 700 | 1350 | 450 |
D | 1337 | 800 | 1500 | 750 |
E | 1872 | 1100 | 1900 | 950 |
F | 2767 | 1400 | 2550 | 1300 |
G | 2843 | 1700 | 2550 | 1300 |
H | 3986 | 2100 | 3450 | 1750 |
H1 | 1828 | 1100 | 1750 | 900 |
K | 6412 | 3200 | 5300 | 2650 |
L | 6296 | 3200 | 5300 | 2650 |
L1 | 4671 | 2500 | 4000 | 2000 |
L2 | 6117 | 3200 | 5300 | 2650 |
56.Export Transactions
Type of transactions | Charges |
1. Bills Purchased/Negotiated/ Discounted a) Processing charges for each foreign currency export bill
b) Processing charges for each Rupee export bill c) For forwarding export documents to another Bank on which no collection commission or exchange accrues to the bank (due to reasons such as the LC being restricted to another bank, etc.) d) Where reimbursement under LC is claimed by an AD in India with another AD, Reimbursement commission shall be recovered by reimbursing bank e) For joining customer's guarantees/indemnities and giving guarantees/indemnities on behalf of customers to other banks in India in respect of discrepant documents negotiated under LC. f) In case of Overdue Export Bills (Purchased/Discounted /Negotiated) where the proceeds are not received in Nostro account on or before the due date, additional commission shall be charged 2. (i) Export bills for Collection (both foreign currency and rupee export bills) a) Equivalent of upto Rs.5,00,000 b) Equivalent of Rs.5,00,000 and above but upto Rs10,00,000 c) Equivalent of Rs.10,00,000 and above
2.(ii) Additional Commission in case of overdue export bills sent on collection that is where proceeds are not received in India on or before due date. 3. Commission in lieu of exchange in respect of the following transactions: a) Where Preshipment advance has been granted against a Letter of Credit / export order where the documents under the relative LC/export order are negotiated through another bank. b) Where the proceeds of export bill negotiated are paid in Foreign Currency to another Bank. c) Where an export bill sent for collection abroad but the payment is received in rupees through another bank in India. d Deemed export bills in Foreign Currency as defined by RBI / EXIM Policy from time to time. e) All other transactions involving Foreign Exchange which are routed through Foreign Currency Accounts. 4.1 Export Letters of Credit: (include Letters of credit, Standby Letters of Credit, Letters of authority, orders to negotiate, orders for payment and all types of documents of similar nature) a) Advising Letter of Credit
b) Advising amendment
c) Transfer of Letter of Credit
4.2 Confirmation of LCs For adding confirmation to each export LC advised. i) Commitment charge
ii) Usance charges
5. Certificates: For issue of certificates / attestations in respect of export transactions
|
For bills upto Rs 5 lakhs -Rs.400 Above Rs 5 lakhs - Rs.800 0.25% - minimum of Rs. 500/- per bill Flat Rs. 1000 – per bill
Flat Rs.1130
0.25% with minimum of Rs. 500/-
Rs.500 per quarter or part thereof per bill irrespective of the bill amount
Rs.565/- for bills upto Rs 5,00,000/-
Rs 1130/- For Bills above Rs 5,00,000/- upto Rs 10, 00,000/- For bills above Rs10 lakhs @ 0.10% with a minimum of Rs 1500/- Note: These charges should be recovered from the exporters even 1. Where advance payment is received. 2. In case of exports under consignment arrangement. 3. Where documents have been sent to the overseas buyer directly with the approval of RBI for disposal of GR form
Rs.500 per quarter or part thereof per bill irrespective of the amount.
Commission @ 0.20% on the Foreign Currency amount upto USD 20000 or equivalent - Minimum Rs. 500/-
And @0.25% on the Foreign Currency amount above USD 20000 or equivalent
Flat Rs.500 for customers and Rs. 1000/- for non customers
Flat Rs.250 for customers and Rs. 350/- for non customers
Flat Rs.500 for customers and Rs. 1000/- for non customers
0.17% for every quarter or part thereof for full validity of the credit
0.17% for bills upto 10 days sight 0.34% for bills over 10 days upto 3 months 0.34% for the first 3 months plus 0.085% for month in excess of 3 months for bills over 3 months sight Depending on the risk perception on the LC opening bank/country, higher confirmation charges may be levied.
Rs.250 per certificate (for a maximum of 5 invoices accompanied per certificate and additional Rs.50 per invoice thereafter)
|
Import Transactions 1. Opening of Import LCs: (Existing)
Type of charge | Scale of charges for value of LC upto Rs.5 crores | Scale of charges for value of LC Rs.5 to Rs.10 crores | Scale of charges for value of LC above Rs.10 crores |
1 | 2 | 3 | 4 |
Commitment charge for validity of Letter of Credit | 0.10%/0.15%/0.20% per quarter or part thereof for A/B/C rated customers respectively | 0.05%/0.075%/0.10 per quarter or part thereof for A/B/C rated customers respectively | No change (Existing plus service tax as applicable) |
Usance charges according to the tenor of the bill called for under the LC 1. For bills upto 10 days sight 2. For bills upto 3 months sight 3. For bills over 3 months sight *for A/B/C rated customers respectively |
0.10/0.15/0.20%*
0.20/0.30/0.40%*
0.20/0.30/0.40%* for 3 months plus0.05/0.075/ 0.10% per month for A/B/C rated customers respectively
|
0.05/0.075/0.10%*
0.10/0.15/0.20%*
0.10/0.15/0.20%* for 3 months plus0.025/0.035/ 0.05% per month
|
0.05%
0.10%
0.10% for 3 months plus 0.0375% per month |
a. Minimum charges for establishing as well as for amending an LC is Rs.1000 b. These charges are also applicable to Revolving Letters of credit. c. For LCs established against 100% margin by way of deposits, irrespective of the value of the credit the commission should be charged as per column 3 above and for cash margin the commission should be charged as per column 4 above. d. If any extension of the validity period of the LC falls within a three months period for which commitment charge has already been collected a minimum amendment commission of Rs 500/- shall be recovered. However for an amendment extending the validity of the LC beyond a three months period from the date of the credit, additional commitment charge shall be recovered at the applicable rates. In case of enhancement of the value of the LC, both the usance and commitment charges as applicable should be recovered for the additional amount. e. The next slab rate of commission is applicable for the amount in excess of the previous slab. For example, for an LC of Rs.6 Crore, commission at 0.20% for the first Rs.5 Crore and at 0.10% for the balance amount of Rs.1 Crore is to be collected. |
2. Deferred Imports: The present scale of charges for establishing Letters of Credit in respect of Imports on deferred payment terms (involving payments beyond a period
six months from the date of shipment over a period of time) are as follows.
Commission to be charged For value upto Rs. 4 crores | Commission to be charged for value Rs.4-8 crores | Commission to be charged for value above Rs.8 crores. |
0.65% per quarter or part thereof | 0.28% per quarter or part thereof | 0.14% per quarter or part thereof |
The Commission may be recovered either upfront or in instalments as per the payment terms prescribed by the Credit sanctioning authority. The next slab rate of commission is applicable for the amount in excess of the previous slab. For example, for an LC of Rs.6 Crore, commission at 0.50% for the first Rs4 Crore and at 0.25% for the balance amount of Rs.2 Crore is to be collected. 3. Commission on Import Bills:
Type of transactions | Charges |
3.1 Bills under Letter of Credit a) Crystallisation of Foreign Currency Import Bills under Letters of Credit to be recovered at the time of crystallisation or retirement whichever is earlier |
0.15 % flat with a Minimum Rs. 1000/-
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b) Crystallisation of Rupee Import Bills under Letters of Credit to be recovered at the time of crystallisation or retirement whichever is earlier c) Import bills received under LC on which no exchange benefit accrues to the bank.(including where Forward Sale Contract is booked with another bank and also where payments are settled out of Foreign Currency Loans arranged abroad) d) If bills are not retired within 10 days from receipt of bills in case of demand bills or on the due dates in case of usance bills e) Discrepancy charges in case of non conforming documents under the LC 6.2 Bills not under LC i) Where exchange margin is earned on a foreign currency bill ii) On each bill drawn in Rupees and on each bill in Foreign Currency on which no exchange margin accrues. iii) Import documents received directly by importers iv) In case of collection bills to be forwarded to another bank, which will be required to remit the proceeds to the remitting bank abroad | 0.28% irrespective of the amount
0.10%
Additional Commission 0.17%
USD 25 per discrepancy from the proceeds with a maximum of Rs.5000/-
0.25% minimum Rs.500 0.375% minimum Rs.500
0.10 % of invoice value
Rs.565/- |
6.3 Documents covering Project Imports Under collection ills/documents covering project imports under inter-governmental aid schemes (including those financed by international agencies like World Bank, IMF, ADB, etc) where no LCs are opened. 6.4 Counter-signing \ Co-acceptance \ Avalisation of import bills
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0.03531% of the invoice value, irrespective of the amount + Service Tax
0.096% per month - Where bill of exchange is drawn for less than 3 months the commission is 0.25% + Service Tax.
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Merchant Trade: For merchant trade (export and import), a commission of 0.125% per transaction is to be charged. Clean Instruments
Type of transaction | Charges |
Inward remittances a. For payments effected under instructions from Foreign Correspondents b. Where the inward remittance has to be paid in foreign currency by way of DD/MT/PO/TT Clean Instruments for collection a. On all clean instruments sent abroad b. On foreign currency instruments favouring resident beneficiaries payable within India. Outward remittances On all outward remittances not being proceeds of import bills. ( In respect of remittances towards imports the charges will be as applicable to import bills) Issue of Foreign Currency TCs
Miscellaneous Payments Payment of a foreign currency draft drawn on our Bank by issuing our foreign currency draft in favour of the beneficiary's bank with whom the foreign currency amount is to be deposited in FCNR account EEFC ACCOUNTS i. Inward remittances credited to EEFC accounts
ii. Outward remittances to the debit of EEFC accounts
Certificates For issuing bank certificates in respect of clean remittances abroad or for encashment of foreign currency travellers cheques/ foreign currency notes
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Rs.200 for customers and Rs.300 for non-customers for each payment
0.10 % with a minimum of Rs.300
0.25% minimum Rs.50/-
As applicable to inland transactions
0.10% with a minimum of Rs.250
1.13% commission on rupee equivalent
0.25% where FTC are issued against Foreign currency remittances
0.10% with a maximum of Rs.250 and a minimum of Rs.100
Additional commission of 0.075% in lieu of exchange
Additional commission of 0.075% in lieu of exchange
Rs. 100/-
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GUARANTEES (Foreign)
Type of Guarantees | Charges |
1. Guarantees in favour of shipping companies / agencies for clearance of goods pending production of bill of lading. a) Relating to imports under LCs opened by the guarantor banks themselves b) others not covered by (a) above
2 PROJECT EXPORTS: Export performance guarantees for project exports which include a) Bid-Bonds b) Bonds for earnest money c) Guarantees for advance payment made by foreign buyers to Indian exporters \ contractors |
A minimum of Rs.500 for guarantees upto Rs. 5 lacs and Rs.1500 thereafter
0.25% at the time of the guarantee. If the guarantee remains current beyond three months an additional commission of 0.15% per month or part thereof as long as the guarantee remains current thereafter
A. In the case of guarantees covered by ECGC counter-guarantees, commission as well as ECGC premium is to be collected at the following rates.
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ECGC ECGC Bank Total
Counter premium commission cost to
Guarantee exporters -----------------------------------------------------------------------
per annum
------------------------------------------------------------------------ Cover 75% 0.80% 0.45% 1.25% 90% 0.95% 0.35% 1.30% |
B. In case of guarantees issued against 100% counter guarantees of the Government of India, commission shall be charged at the rate of 0.30% per annum. C. In case of guarantees issued against cash deposit to the extent of bank's liability commission shall be charged at the rate of 0.25% p.a. D. In case of guarantees, which are not covered by cash deposits or ECGC/ Government of India counter guarantees, commission shall be charged at the
rate of 1 % p.a. E. Commission for issuing bid-bonds for supplies to projects carried out abroad shall be recovered to the extent of 25% thereof for the full period of validity of the bonds at the time of issue. If the bid materialises the balances 75% of the commission shall be recovered. However, if the bid gets frustrated there will not be refund of that part of the commission collected.
3.Export performance guarantees, bid-bonds, etc (other than project exports) and export performance guarantees covering export obligations in terms of import trade control regulations and export performance guarantees/bid bonds connected with deemed exports. 4.Deferred Payment Guarantees covering imports of goods into India / repayment of foreign currency loans.
5. All other guarantees
| 0.085% per month for the specified period of liability. Where the guarantee period is less than three months, commission recoverable will be 0.25% of the guaranteed amount. In case of early redemption of the guarantees a minimum of 50% of the commission for the unexpired period i.e. from the date of redemption to the expiry date shall be refunded.
0.50 % per quarter or part thereof for the specified period of liability calculated on the amount of liability under such guarantees at the beginning of every quarter.
Where a Deferred Payment Guarantee has been issued by an AD, but the relative instalment payment is remitted through another Authorised Dealer, the latter shall compensate the AD, which had issued the guarantee at 0.125% commission in lieu of exchange on the amount of remittance. 0.15% per month for the specified period of liability. Where the guarantee period is less than two months, minimum commission recoverable will be 0.25%. In case of early redemption of the guarantee commission may be refunded at the discretion of banks. |
1. The minimum charge for any guarantee shall be Rs.1000/- 2. For guarantees upto Rs.5 crores normal rates as above may generally be charged. 3. For guarantees exceeding Rs.5 crores, in addition to the normal rates as applicable upto the first Rs.5 crores the branch has to recover either the normal rates or as per terms of sanction on the balance amount. However ECGC premium has to be recovered in full wherever applicable. Upto Rs.5 crores Above Rs.5 crores
4. (a)In respect of various Guarantees (Other 1/4th of normal 1/4th of normal Project Exports) where 100% cash margin is charges charges upto Rs. available. (Not applicable if the margin is held 5 Crores plus 1/8th in the form of deposits) charges for the balance amount b) In respect of various Guarantees(other than ½ of normal ½ of normal Project Exports) issued against counter charges charges upto Rs. guarantees of Govt. of India or where guarantees 5 crores plus 1/4th are issued on behalf of Central and State Governments charges for the and Corporations / Institutions / Companies wholly balance amount owned by them
5 Commission for issuing bid bonds for supplies connected with deemed exports / direct exports, other than project exports, shall be recovered to the extent of 25% thereof for the full period of validity of the bonds at the time of issue. If the bid materialises, the balance 75% of the commission shall be recovered. However, if the bid gets frustrated, there will not be refund of that part of the commission.
6. Guarantees where charges are payable by overseas Banks/parties the commission shall be recovered at 0.125% per month for the specified period of liability and where the guarantee is less than 2 months, commission recoverable will be 0.25% of the guaranteed amount.
7. Branches may be permitted to refund the commission proportionately in case of early redemption of guarantee.
8. ECGC Guarantee premium as applicable will have to be recovered on actual basis.
9. Branches may be permitted to charge commission in instalments wherever applicable with prior approval of the respective credit sanctioning authority. Rule 7 - Forward Contracts:
| Revised |
a. For booking sale and purchase contacts b. For each request for early delivery, extension or cancellation | Rs.500 per contract
Less than USD 25000 or its equivalent - Rs.250/-
> Rs.25000 but < Rs.50000 - Rs.500/- > Rs.50000 but < Rs.100000 - Rs.1000/- > Rs.100000 - Rs.2500/-
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