Advances Service Charges

 

OPENING INLAND/FOREIGN LETTER OF CREDIT

Amount and charges

L C CHARGES FOR SIGHT OR USANCE.

0.5%, minimum £50 or equivalent in other currency

USANCE CHARGES

0.2% for first quarter and also 0.1% per month to be charged for subsequent  period on the Bill of Exchange amount

AMENDMENT TO LETTER OF CREDIT

£50.00 or equivalent in other currencies per amendment (inclusive. Of Postage/Telex). – For amendments in amount and/or period additional charge as under:

 For increase in amount 0.5% and for extension of period 0.1% per month or part thereof.

Payment under L/C

0.2% per payment Min. £50.00 or equivalent in other currencies (inclusive of Postage). Telex charges to be recovered additionally – Min./Max. £20.00 or equivalent in other currencies.

Advising L/C

£100 flat

Advise of due date

Flat £30/-

HANDLING CHARGES

Flat £50/-

REIMBURSEMENT CLAIM CHARGES

£100 or equivalent in other currency

 

COLLECTIONS

INWARD BILLS

INWARD DOCUMENTARY BILLS FOR COLLECTION ON DRAWEE IN U.K. FOR PAYMENT/ACCEPTANCE

0.2% - Min. £20.00 and Max. £100.00 or

equivalent in any currency (Exclusive of Postage).

CLEAN BILLS

0.2% - Min. £20.00 and Max.£100.00 or

Equivalent in any currency per Collection Schedule (Inclusive of Postage).

Handling charges of GBP 15/ per month for period beyond usance period for inward bills for collection will be levied & collected.

 

HANDLING CHARGES

FOR SIGHT BILLS:

1 per mille on the Bill amount minimum of £25.00 or equivalent amount in any currency, per month or part thereof shall be levied if the Bill is not paid within 30 days of intimation. (Charges to be recovered at time of Payment).

FOR USANCE BILLS:

1 per mille on the Bill amount minimum £25.00 or equivalent amount in any currency, per month or part thereof shall be levied if the Bill is not accepted within 30 days of intimation. (Charges to be recovered at the time of Payment).

ISSUE OF DELIVERY ORDER

£30.00 or equivalent in other currencies per Order.

ISSUE OF DELIVERY ORDER FOR TAKING DELIVERY OF PLEDGED GOODS (PER ITEM)

£15 or equivalent

DOCUMENTS RECEIVED FOR ATTACHMENT OF BILL

£ 15 or equivalent

ADVISE OF DUE DATE/STATUS /PAYMENT

Postage/Courier Charges will apply as below. Telex Charges £20.00 / or equivalent in other currencies per Bill/Collection Schedule wherever applicable.

 

OUTWARD BILLS

OUTWARD DOCUMENTARY BILLS FOR COLLECTION (INCLUDING UNDER BILLS DISCOUNTED IN ADDITION TO INTEREST/DISCOUNT)

0.25% Min. £20.00 / or equivalent in other currencies

Max. £100/ or equivalent in other currencies (Exclusive of Postage)

CLEAN CHEQUES/BILLS/FOREIGN CURRENCY CHEQUES/TRAVELLING CHEQUES

0.25% Min. £20.00/ or equivalent in other currencies

Max. £75/ or equivalent in other currencies  (Inclusive of Postage)

For total cheques £150/ or equivalent in other currencies flat Charges of £7.50/ or equivalent in other currencies all inclusive to be recovered per Collection Schedule.

Note: Postage/Courier Charges etc. will be additional wherever applicable as shown in Col. (I). Swift/Telex Charges Min./Max. £20.00 / or equivalent in other currencies per Bill/Collection Schedule wherever applicable.

 

TRAVELLERS CHEQUES

ISSUE /ENCASHMENT

0.2% min £5/ or equivalent in other

Currencies. Max £30/ or equivalent in other currencies

COLLECTION FOR NON STERLING CHEQUES

0.2%Min £20/ or equivalent in other

Currencies. Max£50/ or equivalent in

other currencies  ( All inclusive)

 

GUARANTEE/INDEMINITY

ISSUE OF INLAND/FOREIGN FINANCIAL GUARANTEE/INDEMNITY

0.50% per quarter or part thereof -

Min. £50.00/ or equivalent in other currencies.

In case the guarantee is secured by 100% Cash Margin 0.25% per quarter or part thereof - Min.

£25.00/ or equivalent in other currencies 

IN ADDITION TO COMMISSION, FOLLOWING CHARGES WHICHEVER ARE APPLICABLE TO BE RECOVERED:

0.2% Min £20/ or equivalent in other currencies Max£50/ or equivalent in other currencies ( All inclusive)

 

SWIFT / TELEX

UK/EUROPE

£30 / or equivalent in other currencies

OTHER COUNTRIES

£30 / or equivalent in other currencies

 

ADVANCES

Fresh Term Loan : increase in Limit  Additional Fund Based Facility

Upto £ 1 Mn

Above £ 1 Mn

@ 1% :

Min.  £ 50

 

@ 0.50% :

Min. £ 5,000

(Inclusive of all charges Viz. obtaining credit reports information, inspection charges (excl. Outstation) search reports on the company.

Review Term Loan

Above £ 1 Mn

a)  Upto £100,000

@ 0.50%

Min. of £100/-

@ 0.25%

Max.

£ 30,000/-

b)  From £100k to £500k

@ 0.40%

Max. of £1,000

c)  From £500k to £1 Mn

@0.25%

Max. of £2,000

Combined Term Loan + Overdraft

Or only OD or any other FB facility

& NFB

@ 0.50%

Min. of £50/--

@ 0.25%

Max. Of £ 25k.

FOR ADVANCES FULLY SECURED BY LIEN OVER BANK'S OWN DEPOSITS :

By arrangement subject to minimum of £25.(£50 if against third party deposits)

EXCESS OVERDRAFT FEE :

Usage fee of £20.00 per calendar month.

 

OTHER CHARGES WHERE APPLICABLE

COUNTRIES

SWIFT / TELEX

UK/EUROPE

£30 / or equivalent in other currencies.

OTHER COUNTRIES

£30 / or equivalent in other currencies. 

NOTE:

1.  Bank Reserves the right to vary this schedule and Service Charges stated herein above.

2. Out of Pocket Expenses such as Stamp duties, Telex, Swift, Telephone charges etc. incurred at the request of the Customer and Correspondent's commission and charges if any are recoverable additionally.

3.  Service Charges in respect of Foreign Currency Accounts / Remittances shall be calculated at the same scale as in cases of Sterling Accounts / Remittances and Sterling

 

OTHER FINANCIAL INFORMATION :

1.  The minimum balance required to be maintained for: Current Accounts is £500.00 or US$1000.00 in Dollar Accounts.

2. Statement of Accounts are issued to all customers at least once each year, or at shorter intervals if required by the account holders. Statements may not be issued where there are no transactions in the account for a period of twenty four months.

3. Periodic changes of interest rates, both for deposit, savings and borrowal accounts, are notified through the Notice Boards in the Banking Hall, unless otherwise arranged. The rates quoted for deposit/savings accounts are gross rate.

 

4. In keeping with Money Laundering Directives, the Bank does not encourage cash transactions. The Bank may accept cash under £5,000.00 at any one instance, with suitable identification and evidence of residency for UK residents. In case of excessive deposit of cash, the Bank may, at its discretion, accept such amounts provided the depositor can satisfy as to the source of funds in addition to proof of identity and evidence of residency.

5. Cash payments generally will be made in Pounds Sterling only.

6. Account holders are reminded of their right that they may give instructions at any time that they do not wish to receive marketing material.

 

 7. All services listed herein may not be available at all of our offices.

8. For any other services if required the customer may ascertain the charges in advance from the Bank in writing.

Note :

  1. Charges are in GBP and will be equivalent in other currencies, wherever applicable.

 

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