schedule of service charges - svc bank · schedule of service charges annexure i existing service...

SCHEDULE OF SERVICE CHARGESAnnexure I

Existing Service Charges Sevice Charges (Exclusive of(Exclusive of Service Tax) Service Tax)w.e.f.lst Ma ,2010

1 EXPORT TRANSACTIONS

A. Bills Purchased/ Discountedf Negotiated

i For each foreign currency and rupee bill 0.1250% (minimum Rs 500.00 0.1250% (minimum Rs.500.00 perpurchased / discounted/negotiated: maximum Rs.5000.00) bill (maximum Rs.10000.00)

ii. Where the export bill is sent for negotiation to 0.1250% (minimum Rs 500.00 0.12500/. (minimum Rs.500.00 peranother bank ir\ India ( due to reason such as LC maximum Rs.5000.00) bill (maximum Rs.10000.00)

being restricted ), the following charges shall becollected:

iii. For joining in customers guarantees 0.25% (minimum of Rs.500.00) 0.25% (minimum of Rs.500.00)/ indemnities and for giving guarantees/indenmities on behalf of customers to otherbanks in India in respect of discrepancies indocuments n otiated und r C

iv. In case of overdue export bills purchased /discounted /negotiated ie. where the proceedsare not received in Nostro account on or beforethe due date, additional comission shall bechar ed a under:

a. upto Rs. 5.00 Lakhs or equivalent: Rs.250.00 per bill per quarter 0 Rs.250.00 per bill per quarter or papart thereof on realization/ thereof on realization/reimbursement for the period reimbursement for the periodbeyond due date. beyond due date.

b. Over Rs. 5.00 Lakhs or equivalent: Rs.500.00 per bill per quarter or Rs.500.00 per bill per quarter or parpart thereof on realization / thereof on realization /reimbursement for the period reimbursement for the periodbeyond due date. beyond due date.

B Ex ort Bills for collection:

i Commission on export bills for collection andexport under consignment arrangements shall berecoverable as under: .

Foreign Curren~ and Ru!2ee Ex!2°rt Bills 0.10% (minimum Rs 500.00 per 0.1250% (minimum Rs.500.00 perbill maximum Rs.5000.00 bill maximum Rs.I0000.00)

Note: These charges are also recoverable frothe exporters where 100% advance paymentowards exports is received, as well as where thedocuments have been sent by the exporterdirectly to the overseas buyer as permitted

ii. In case of overdue export bills sent 0collection ie. where proceeds are not received'India on or before the due date, additionalcommission shall be charged as under:

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Existing Service Charges Sevice Charges (Exclusive of(Exclusive of Service Tax) Service Tax)w.e.f.1st Ma ,2010

a. upto Rs. 5.00 Lakhs or equivalent: Rs.250.00 per quarter or par Rs.250.00 per quarter or parthereof. .thereof.

b. Over Rs. 5.0G Lakhs or equivalent: Rs.500.00 per quarter or p Rs.500.00 per quarter or pthereof. thereof.

C. COMMISSION IN LIEU OF EXCHANGE:i. Where preshipment advance has been granted 0.10% (minimum Rs.500.00) 0.10% (minimum Rs.500.00)by the bank against LC j export order but the (maximum Rs.10000.00)documents under the relative LCjexport orderare negotiated through another bank.

n. Where the proceeds of an export b. 0.10% (minim~ Rs.500.00) 0.10% (minimum Rs. 500.00)negotiated by the bank are paid in foreign (maximum Rs.10000.00)curren to another Authorised Dealer.

ill. Where an export bill is sent for collection 0.10% (minimum Rs.500.00) 0.10% (mimimum Rs.500.00)abroad by the bank but the payment is received (maximum Rs.10000.00)in Rupees through another Authorised Dealer inIndia.

iv. Where an export bill is negotiated 0.10% (minimum Rs.500.00) 0.10% (mimimum Rs.500.00)jpurchased jsent for collection and the (maxinlum Rs.10000.00)proceeds thereof are credited to foreign currency(EEFC) account in part or full, on the foreigncurrency amount credited to EEFC account

v. Deemed export bills in foreign currency as 0.10% (minimum Rs.500.00) 0.10% (mimimum Rs.500.00)defined by RBIjEXIM policy from time to time. (maximum Rs.10000.00)

D. EXPORT LETTERS OF CREDIT

Letters of Credit include letters of credit andstandb letters of credit.

i. a. Advising commission for each export LC Rs.1000.00 per LC Rs.I000.00 per LC

)b. Advisin amendment of each e ort LC Rs.500.00 per amendment Rs.500.00 er amendment -

c. Advising commision for export LC as second Rs 500.00 per LC / Ammendment Rs 500.00 per LC j Ammendmentadvisin bank .

n. Addin confirmation to the ex ort LC

a. Commitment charges for full validity of the 0.15% for every quarter or p 0.15% for every quarter or paLC thereof (minimum Rs. 500.00) thereof (minimum Rs. 500.00)

b. Usance charges according to the tenor of thebill:Demand bills 0.15% (minimum Rs.500.00) 0.15% (minimum Rs.500.00)

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Existing Service Charges Sevice Charges (Exclusive of(Exclusive of Service Tax) Service Tax)w.e.f. 1st Ma ,2010

Usance bills 0.30% per quarter 0.30% per quarterIn case of extension of LC to which confirmationhas been added by the bank, if such extensionexceeds three months from the date of LC,additional commitment charges will bere v r dasab v

.When the amount of LC confirmed by the bankis subsequently increased, both commitment anusance charges as above shall be recovered onthe amount so increased.

E. TRANSFERABLE LEn"ERS OF CREDITWhen transferable export LL is transferred to Each advise of transfer- Rs.1000.00 Each advise of transfer- Rs.1000.00another beneficiary ( whether full or part and Every amendment- Rs.500.00

whether endorsed on credit itself or not)Every amendment -Rs.500.00

F. ACCEPTANCE COMMISSION

LC calling for usance bills to be drawn on and 0.15% per month. 0.15% per month.acce ted the bank.

G. CERllFICATES

Issue of certificates / attestations, endorsements Rs.100.00 per certificate / Rs.200.00 per certificate / attestationetc. in respect of export transactions attestation

2 IMPORT TRANSACllONS

A. A lication of char es:

i For establishing Import LC including standby 0.1250% for every quarter or p 0.1250% for every quarter or parLC: thereof (minimum-Rs.500.00) thereof (minimum-Rs.500.00)

a. Commitment charge for full validity of the LC

b. Usance charge according to tenor of the bill:

At si ht LC 0.1250% (minimum R.9.500.00) 0.1250% (minimum Rs.500.00)

Usance LC 0.25% per quarter (minimum 0.25% per quarter (minimumRs.1000.00) Rs.1000.00)

For the purpose of levying commitment and ;

usance charges the total amount committedinclusive of interest amount and tolerance levshall be reckoned.

In case of LC established against 100% cash 50% of normal charge 50% of normal chargede osit as securi minimum Rs. 1000.00 minimum Rs. 1000.00Any amendment to the LC, other than extensio Rs.500.00 per amendment Rs.500.00 per amendmentof its validity or enhancement of its value:

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REMARKS:In case of amendment altering the tenor of Bill 0Exchange, appropriate additional usance chargeshall be collected on the outstanding liabilityunder LC at sti ulated rateIn case of enhancement of the value of LC, bothcommitment and usance charges as applicable toestablishing LC shall be recovered for theadditional amount on outstanding liabilityunder the L .Any revival or reinstatement of an expired LCshall be at the option of the bank but within 3months from the date of expiry and shall besubject to recovery of usance charge andcommitment charge from the date of expiry and ..'upto the validity period of the revived LC.

I Each enhancement to be considered separatelyI without addin to ori' LC.

No refund of commission shall be allowed.

B. REVOLVING LETTER OF CREDITOn revolving letter of credit established as per Same as applicable to Impo Same as applicable to Impoprovisions of Trade and FEMA regulations and Letter of Credit Letter of Creditfor restoration of the credit to the extent 0drawings honoured ( whether the letter of credispecifies the maximum amount of totaldrawings or the maximum amount of thedrawing permitted at anyone time) the chargesrecoverable at the time of establishment:

Reinstatement char es:Upon reinstatement under Revolving letter of Same as applicable to Import Same as applicable to Import Lettercredit: Letter of Credit of Credit

c. DEFERRED IMPORTSCommission on letters of credit covering impo 0.50% per quarter or part thereo 0.50% per quarter or part thereof 0of goods on deferred payment terms involving on the amount of liability at the the amo'unt of liability at thepayments beyond a period of six months from begiruring of every quarter begiruring of every quarter -upfrontthe date of shipment over a period of time as upfrontdefined. FEM :

D. CRYSTALLISAllON OF IMPORT BILLSUNDER LETTER OF CREDITIf crystallisation of the Rupee liability of an Actual Swap OIarges and Interest Actual Swap OIarges and Interestimport bill under Forward Exchange Contra ,results in earl late delive : '

Each foreign currency import bill received und 0.1250% 0.1250%LC at the time of retirement or crystallizationwhichever is earlier'If the import bills are not retired within 10 days 0.1250 % (minimum Rs 1000.00) 0.1250 % (minimum Rs 1000.00)after the receipt of documents in case of demandbills or on due date in case of usance bills a latepayment commission shall be recovered:

Foreign currency bill received under LC 0 0.125 % (minimum Rs 1000.00) 0.1250 % (minimum Rs 1000.00)which no exchange benefit accrues to the bank

Discrepancy charges in case of non-conforming USD 75.00 or its equivalent per USD 75.00 or its equivale~' \. C 0'0",- 6' \

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E. IMPORT NON-LC BILLSEach foreign currency pill on which the bank 0.20% (minimum-Rs.1000.00 ) 0.25% ( minimum-Rs.1000.00 )earns exchan e benefit. :Each bill dra,wn in Rupees I foreign currency 0 0.35% ( minimum-Rs.1000.00 )which no exchange benefit accrues to the bank

.IMPORT DOCUMENTS RECEIVED

F. DIRECTLY BY IMPORTERSIn case of documents received directly from the 0.10% (minimum -Rs.1000.00) 0.1250"/0 (minimum -Rs.1000.00)overseas ex orters Ibanks

COUNTERSIGNING ICO-ACCEPT ANCEl 0.10% per month or part thereo 0.10% per month or part thereof forG. A V ALISAnON OF IMPORT BILLS for the tenor of the bills the tenor of the bills

H. MISCELLANEOUS TRANSACTIONS

i. In lieu of exchange, import bills payments 0 0.10% 0.125%which are settled out of foreign currency loanarranged abroad, foreign currency accounts andEEFC accounts.

ii. 1m ort bills for collectionWhere the bills are forwarded to another bank to Handling charges of Rs.1000.00 Handling charges of Rs.1000.00remit the proceeds to remitting bank abroad per bill per bill

3 MERCHANTING TRADE

A. Back to Back letters of credit will be treated as Commission as applicable to Commission as applicable tose arate transactions Import LC 1m ort LC1£ the foreign currency remittances are received 0.10% (minimun Rs 500.00) 0.10% (minimun Rs 500.00)in advance from the overseas buyer, at specificrequest of merchanting trade customer the samemay be held in foreign currency funds in NostroAccount without converting the amount inIndian Rupee till the date of payment to theoverseas supplier. No interest is payable on suchadvance remittances or grant rupee advanceagainst foreign currency funds thus received.

B.

4 CLEAN INSTRUMENTS ;A. Inward remittances

a. Encashment of ITs I Purchase of MIs IDDs Rs.500.00 per transaction Rs.500.00 per transactionin respect of which cover has been received inNostro Accounts

b. Where the inward remittance has to be 0.10% (from the beneficiary or 0.10% (from the beneficiary 0executed in foreign currency by issuing a beneficiary's bank as the case may beneficiary's bank as the case mayDD/MII a ent order lIT be) be)

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B. CLEAN INSTRUMENTS FOR COLLECllONa. Oean instruments sent for collection abroad 0.20% per instrument (minimum- 0.20% per instrument (minimum-

Rs.100.00) Rs.100.00)

b. .In respect of foreign currency instruments O1arges as applicable to OBC Charges as applicable to localfavouring resident beneficiaries sent fo OBCcollection within India

.c. Foreign Currency instrument return charges Overseas Correspondent b Overseas Correspondent baI charges at actual plus Rs.100.00 charges at actual plus Rs.100.00

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I C. CERnFICATES,

For issuing bank certificates on security paper /f letter heads in respect of payment of clean

remittances from abroad and / or forencashment of foreign currency travellersche ues forei curren n tes Rs 200.00 er certificate Rs 200.00 er certificate

D. OU1WARDREMITTANCES

All outward remittances such as TIs / DDs 0.1250% (minimum Rs.100.00 0.15% (minimum Rs.200.00)maxium Rs 25000/-

In case of TIs, SWIFT charges will be recovered: Rs.300.00 Rs.300.00

In respect of part or full advance remittance Commission as applicable to Commission as applicable toagainst imports: import biils on collection basis. import biils on collection basis.

ISSUE OF FOREIGN CURRENCYTRA YELLERS CHEQUES / CURRENCY NOTE

E.

1. Foreign Currency Travellers Cheques issued 1 % on rupee equivalent 1 % on rupee equivalentto customers

2. Foreign Currency Travellers Cheques issued 0.125% 0.1250%against foreign currency remittances receivedfrom abroad

F. EEFC ACCOUNTS:

a. Outward remittance to the debit of EEF 0.10% (minimum- Rs.500.00 ) 0.10% (minimum- Rs.500.00 )account of the customer ( in lieu of exchange)

b. Where proceeds of inward remittances are 0.10% in lieu of exchange 0.10% in lieu of exchange (minimumcredited to EEFC acc;ount of the customer (minimum Rs 500.00) Rs 500.00)

Remarks: the above charges are not applicatbleto non interest bearing EEFC accounts

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GUARANTEES5

arantees and char es

i. Guarantees in favour of shipping companies /agencies for clearance of goods pending ::: ..

roduction of bill of ladin : .,

a. relating to imports under LCs opened by the Flat Rs.1000.00 Flat Rs.1000.00bank '

b. others not covered a above 0.25% per quarter 0.25% er uarter

ii. Export Performance guarantees for projec a. Guarantees covered by ECGC a, Guarantees covered by ECGCex orts which include: counter guarantees: counter arantees:a. Bid -bonds 75% Cover- Applicable ECGC 75% Cover- Applicable ECGC

premium plus conunission @ premium plus commission @0.45% 0.45%

b. Bonds for earnest money 90% cover- Applicable ECGC 90% cover- Applicable ECGCpremium plus conunission @ premium plus commission @0.35% 0.35%

c. Guarantees for advance payment made by b. Guarantee issued against 100% b. Guarantee issued against 100%foreign buyers to Indian Exporters / contractors counter guarantee of Govt. 0 counter guarantee of Govt. 0

India -0.40 % per annum India -0.40 % per ann(minimum Rs 1000.00) (minimum Rs 1000.00)

c. Guarantees issued against cash c. Guarantees issued against cashdeposit to the extent of b deposit to the extent of bliabilities -0.25% p.a. (minimum liabilities -0.25% p.a. (minimRs. 1000.00) Rs. 1000.00)

d. Guarantees not covered by a,b,c d. Guarantees not covered b2.00% p.a. a,b,c- 2.00% p.a.

ill. Export performance guarantees, Bid -bonds 0.085% per month for the 0.085% per month for theetc. ( other than project exports) and Expo specified period of liability. Where specified period of liability.performance guarantees covering expo the guarantee p~ri.od is less Where the guarantee period isobligations in terms of import trade contro13months, COmmlSSlon of 0.25% 0 less than 3months, commission 0regulations and export performance guarantees the guarantee~ amount. In case 0 0.25% of the aranteed amount.

i / b 'd b ds d .th early redemption of the guarantee, gu.1 on connecte WI deemed exports. .. f 50°/ f ..In case of early redemption of the

mlrUmum 0 10 0 COmmlSS1Ofor the unexpired period shall be guarantee, minimum of 50% 0refunded. In case of bid bond commission for the unexpiredguarantees, if the bid gets period shall be refunded. In casefrustrated, commission shall no of bid bond guarantees, if the bidbe refunded.. gets frustrated, commission shall

not be refunded.

iv. Deferred Payment guarantees covering 0.50% per quarter or part thereo 0.50% per quarter or part thereoimports of goods into India/repayment 0 for the specified period of liability for the specified period 0foreign currency loans. at the beginning of the quarter. liability at the beginning of the

uarter.

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v. All other guarantees. 0.15% per month for the specified 0.25% per month.liability. Where the guaranteeperiod is less than two months -0.25%

In case of early redemption 50% of In case of early redemption 50%.commission will be refunded for of commission will be refunded

unexpired period, provided it is for unexpired period, provided i 'not less than 3 months. is not less than 3 months. .,

Minimum charge for any Minimum charge for any, guarantee shall be Rs.500.00 ,v;uarantee shall be Rs.1000.00

Commission to be collected Commission to be collectedupfront upfront.

vi. Buyer's Credit 0.25% per month.

6 FORWARD EXCHANGE CONTRACTS Rs.500.00 per contract Rs.500.00 per contracti. Each Sale or Purchase Contract. No charge in respect of exchange No charge in respect of exchange

contract booked on behalf of NRI contract booked on behalf of NRIcustomers. customers.

n. Early delivery, extension and cancellation of Rs.500.00 per transaction Rs.500.00 per transactionForei£n Exchange Contracts.

7 MISCELLANEOUS CHARGES

A. SWlFI' char~es-l: Import LC. Rs.1500.00 per message Rs.1500.00 per messageB. SWlFI' charges- ll: Outward Remittance Rs. 300.00 per message Rs. 300.00 per messageinstructions.C. SWlFI' charges- m:confirmations/ reports/ Rs. 200.00 per message Rs. 200.00 per messageenQuiriesD. Courier charges- I: Export Bills Rs. 1000.00 per bill ( subject to Rs. 1000.00 per bill ( subject to

change of tariff by courier change of tariff by courielcompany) company) In case if the bill is to be

seJ1t in two sets, additional Rs.500.00 to be collected.

E. Courier char~es -ll: Advisin~ Export LC Rs. 100.00 Rs. 100.00F. Postage Charges:- Despatch of Foreign Rs. 40.00 (Subject to change) Rs. 40.00 by postCurency instruments Rs.750.00 by COlmer

Subject to chanQe)

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schedule of service charges - svc bank · schedule of service charges annexure i existing service...

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