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Service Charges

Subject:
Service Charges
Description:

INDEX

CHAPTER – XXIII

SERVICE CHARGES

23.1.0         COMMISSION ON COLLECTIONS:

23.1.1          RATE OF COMMISSION ON COLLECTION OF BILLS (INWARD & OUTWARD) (CLEAN/DOCUMENTARY/DEMAND/USANACE)

23.1.2.               RATE OF COMMISSION ON COLLECTION OF CHEQUES/DRAFTS/P.O. /DIVIDEND WARRANTS/DEPOSIT RECEIPTS (INWARD/OUTWARD)

23.1.3.         GENERAL GUIDELINES REGARDING COLLECTION OF COMMISSION ON BILLS

23.2.0         INTEREST/DISCOUNT OF CHEQUES/DEMAND DRAFTS/PAY ORDERS.

23.2.1.         PRESENT CHARGES

23.2.2          ELECTRONIC PAYMENT SYSTEM

 

23.3.0.        PAY ORDERS/BANKERS CHEQUES:

23.3.1.               PRESENT RATES:

23.4.0.        EXCHANGE ON REMITTANCES:

23.4.1.         PRESENT RATES:

23.5.0.        TRANSMISSION CHARGES (POSTAL TARIFF)

23.5.1.         PRESENT CHARGES:

23.6.0.        LEDGER FOLIO CHARGES:

23.6.1.         PRESENT CHARGES:

23.7.0.        COMMISSION ON GUARANTEE:

23.7.1.         PRESENT RATES:

 

23.8.0.        PROCESSING CHARGES ON LOANS/ADVANCES:

          PRESENT CHARGES:

23.9.0.        INSPECTION CHARGES:

23.9.1.         PRESENT CHARGES:

23.10.0.      OTHER SERVICE CHARGES:

23.12.0.           SERVICE TAX LIABILITY:

 

CHAPTER - XXIII

SERVICE CHARGES

___________________________________________________________

 

23.1.0         COMMISSION ON COLLECTIONS:

 

23.1.1 RATE OF COMMISSION ON COLLECTION OF BILLS (Inward & Outward) (Clean/Documentary/Demand/Usanace)

 

 

PRESENT RATES:

 

 

Upto and including Rs.5000/-

Rs. 25/- + Service Tax

Above Rs.5000/-  Upto Rs. 10000/-

Rs. 50/- + Service Tax

Above Rs.10000/- Upto and including Rs. 100000/-

Rs. 100/- + Service Tax

Above Rs. 100000/-

Rs 4.50/- per 1000 + Service Tax (Minimum 500/- Maximum 12000/-)

 

 

 

 

23.1.2.          RATE OF COMMISSION ON COLLECTION OF CHEQUES/ DRAFTS  /P.O. / DIVIDEND WARRANTS/DEPOSIT RECEIPTS (Inward/Outward)

 

 

PRESENT RATES:

Upto Rs. 5000/-

Rs.25/-

Above Rs. 5000/- and upto Rs. 10000/-

Rs. 35/-

Above Rs. 10000/- and upto Rs. one lakh

Rs. 4 per Rs.1000 or part thereof

Above Rs. one lakh

Rs. 3.5/- per Rs.1000 or part thereof subject to a minimum of Rs. 400/- and maximum of Rs.15000/-

 

23.1.3.        GENERAL GUIDELINES REGARDING COLLECTION OF COMMISSION ON BILLS

 

1

In addition to the above, Transmission charges as per Paragraph (23.5.0.) and out of pocket expenses if any, have to be collected.

 

2

Transmission/postage and out of pocket expenses have to be collected even in case where at par collection facilities are granted.

 

3

Collection Charges need not be levied in respect of Cheques and Drafts / instruments presented in the clearing. At centers where there is no clearing facility in respect of Cheques/instruments sent to other local Banks for collection, only out of pocket expenses, if any, should be collected and no commission need to be collected in such cases.

4

Collection charges as per Schedule have to be collected in respect of all local/outstation bills.

5

In the case of Bills/Cheques received from our Branches, the collection charges should be levied at one end i.e. at the Branch where the instrument is lodged for collection.  However, the collecting Branch may recover the actual postage and out of pocket expenses, if any, from the drawees or proceeds as per the instruction of the drawer/remitting Branch.

6

Collection of Commission is exempted in following cases:  (However, Transmission/postage as per Paragraph No.5 and out of pocket expenses, if any should be collected where at par collection facilities are granted) 

i)

CONCESSION TO RELIGIOUS/WELFARE SERVICE/CHARITIABLE INSTITUTION:

 

Collection of Instruments favoring Educational/welfare Service, Charitable and Religious Institutions may be done at par, provided they are exempted from payment of Income Tax in full.

 

ii)

CHEQUES FOR SUBSIDY UNDER SGSY & GOVERNMENT SPONSORED SCHEMES.

 

Items/instruments relating to collection of margin money/subsidy for IRDP/SGSY loans etc, settlement of insurance claims towards borrowers’ accounts and instruments deposited by Government officials for payment/disposal under Government sponsored schemes may be collected at Par.

 

 

iii)

DEFENCE PERSONNEL/UNITS:

 

Outstation Cheques of Defence Personnel (including Retired), Defence Units and Establishments and Para Military Forces such as BSF/CRPF/Assam Rifles etc., may be collected at par only for personal requirements such as School/college fees Payment of LIC Premia or maintenance of dependants and not other wise.

Cheques representing Ex-Gratia from Regiment units, payment of Terminal Credit Balance, Armed Forces Provident Fund and Family Pension may be collected ‘at par’ in favour of next of kin of the deceased soldiers.

 

 

iv)

BLIND, PHYSICALLY HANDICAPPED, DISABLED INDIVIDUALS & INSTITUTIONS SET UP FOR THEIR BENEFIT:

 

 

The upcountry cheques of the Institutions set up for the benefit of blind, physically handicapped, mentally retarded and disabled individuals be collected at par provided they are exempted from payment of Income Tax.

 

v)

FREEDOM FIGHTERS (SWATANTRA SAINIKS):

 

No service charges to be charged on collection of pension bills/pension cheques of Freedom Fighters.

 

vi)

COLLECTION OF INSTRUMENTS FOR PRIME MINISTER’S/CHIEF MINISTER’S RELIEF FUND:

 

 

The instruments favouring Prime Minister’s/Chief Minister’s Relief Fund be collected at par.

 

 

vii)

STUDENTS SCHOLARSHIP BILLS/CHEQUES:

 

 

At par.  However, Transmission charges as per Paragraph (21.5.0.) and other out of pocket expenses shall be collected.

 

viii)

COURT COLLECTIONS REMITTED BY ADVOCATE TOWARDS LOAN A/C OF BORROWERS:

 

Court collection in respect of execution petition, suits and other petition etc against the borrower, when remitted by the advocates to the credit of loan account with us, the remittance of commission/collection commission and postal tariff, if any, in such cases need not be insisted upon.

 

ix)

SALARY BILLS/CHEUQES EMPLOYED IN GOVERNMENT RUN/AIDED SCHOOLS:

 

The Salary bills/Cheques of Teachers employed in Government run/aided Schools may be collected at par.  However, transmission charges  and out of pocket expense for salary bill shall be collected by treating the entire bill as one instrument.

Further, the present facility of providing instant credit of salary to Government aided School shall continue, with the collection of handling charges of Rs. 10/- per account.

 

In case the Treasury Bill is not realised within 7 days, for whatsoever reason, then the Branch has to collect interest on the purchased amount from the individual Teacher from the date of credit till the date of realisation at normal rates. (Presently, at 14.5%).

In case the Salary bills are returned unpaid, interest along with penal interest (presently 14.5% + 2% = 16.5%) on the purchased amount should be collected from the day of credit.

 

 

x)

GOVERNMENT/SEMI-GOVERNMENT DEPARTMENTS/AGENCIES:

 

 

Collection of Bills/Cheques/Drafts favouring Government, Semi-Government Departments/Agencies for credit of their account can be collected ‘at par’.  Other out of pocket expenses if any, shall be collected separately. Transmission charges as per Paragraph (23.5.0.) shall be collected.  Exemption/concessions, if any, shall be brought to the notice of Head Office: PDMM Division for approval.  However, Instruments drawn in favour of general public by the government/Semi-government Departments/Agencies shall be collected strictly in terms of Paragraph 23.1.2.

 

xi)

COLLECTION OF PENSION BILLS:

 

No service charges shall be charged on collection of Pension Bills/Cheques of State or Central Government of Armed Forces.  But, Transmission charges as per Paragraph (23.5.0.) and out of Pocket expenses if any, have to be collected.

xii)

Concession to JPSB A/c holders:

JPSB A/c holders are entitled for free collection of cheques / DDs upto the tune of Rs.5,000/- per month, provided this facility shall be given to the A/c holder only for two times in a month. However, transmission charges and postage should be collected.

 

OTHER NOTES/EXEMPTIONS/GUIDELINES:

7

SUPPLY BILLS:

 

In the case of Supply Bills, collection charges under this Paragraph should be collected by the Branch when the Bills/Amount is to be collected from the Purchasers of Goods/Services along with Transmission charges as per Paragraph (23.5.0.) and other out of pocket expenses.

8

COLLECTION OF CHEQUES DEPOSITED BY SPONSOR BANK BRANCHES & RRBs SPONSORED BANKS:

 

Cheques/Demand Drafts drawn in their favour only may be collected at par.  When Cheques/Drafts of their customers are tendered by RRBs/Sponsor Banks for collection, the collection charges should be shared in the ratio of 50:50.  Further, the transmission charges as per Paragraph (23.5.0.) should be collected along with out of pocket expenses.

9

INTER BANK COLLECTIONS:

 

When the Bills / Cheques/other instruments are sent for collection to other Public Sector Banks, including our Sponsor Bank, the collection charges should be shared between the Banks at the ratio of 50:50 i.e. remitting Bank to charge 50% of the applicable rates and collecting Bank to charge 50% of the applicable rate.

The usual transmission charges and out of pocket expenses, should be collected separately.

The Branches shall note that instruments shall be sent to our Branches only where both our Branches and Sponsor Bank Branches are operating.  Further, instruments drawn on counter where we do not have any Branches shall preferably be sent to our Sponsor Bank Branches instead of sending directly to the respective Bank.

10

COLLECTION OF CHARGES IN RESPECT OF INTER-BRANCH COLLECTIONS:

 

As per the procedure, when Bills/Cheques, other instruments are sent for collection to other Branches of our Bank, collection charges, & Handling charges including transmission and out of pocket expenses have to be collected by sending Branch only, unless specific instructions are given by the sending Branch.

 

 

11

HANDLING CHARGES FOR BILLS/CHEQUES RETURNED UNPAID:

i)

For Local Cheques:

i)  Cheques issued by our Account holders but returned unpaid by us through clearing or across the counter for want of funds

 

a)  For SB A/c Cheques returned:

Rs.  80/-

b)  For CA/OD/CC A/c Cheque returned

Rs. 100/-

ii)  Cheques deposited by our customers to the credit of their accounts with us but     returned unpaid by other Bank:

           Rs.  10/-

 

ii)

For Local Bills and Outstation cheques/Bills returned unpaid:

 

a) Outstation cheques:50% of prescribed collection charge subject to minimum of Rs. 25/-

b) Local/outstation Bills: 50% of prescribed collection charges subject to minimum of Rs. 25/-.

In respect of local/outstation bills and outstation cheques, apart from commission charges, transmission charges & out of pocket expense should be collected.

iii)

The returning Branches should indicate the amount to be collected i.e. handling charges + transmission charges + out of pocket expenses while returning the bill to the sending Branch.

 

iv)

Branches are to collect the Cheque returning charges in case of Cheque sent for collection to ICICI/GTB Branch, as informed by ICICI/GTB or the charges as per our guidelines i.e., Cheque returning charges + collection charges + out of pocket expenses with a minimum of Rs. 125/- per instrument in case instruments are returned by ICICI and Rs. 135/- in case of instruments returned by GTB/IDBI. 

v)

Aforesaid guidelines Regarding returning charges laid under Paragraph No. 23.1.3 (11)  are also applicable to our Staff Cheques/Bills returned unpaid.

12

OVER DETENTION OF INWARD BILLS FOR COLLECTION:

 

 

Normally, the Inward Bills received for collection should not be retained beyond reasonable period.  However, where the circumstances require the Branch to retain the Bills beyond reasonable period, the following Service charges are to be levied.

Bills detained for 2 months will be chargeable at Re.0.20 percent with a minimum of Re.5/- and maximum of Rs. 25/- per month or part thereof & after the period of 2 months in addition to usual collection charges as per Paragraph (5.0.) and other out of pocket expenses.

This levy does not apply to Bills received from other Banks.  For usance Bills 2 months is to be calculated from the due dates.

 

13

REMITTANCE OF IBC PROCEEDS:

 

The IBC Proceeds may be remitted by issue of Demand Draft on Syndicate Bank Branches collecting 50% of Commission, by the Branches which are empowered to issue Demand Drafts on Syndicate Bank.  In case of other branches, if Demand Drafts are purchased from local Syndicate Bank Branch or other Bank Branches, full commission shall be collected. The commission on Syndicate Bank shall be collected in addition to IBC commission.   The proceeds of IBCs received from Syndicate Bank Branches shall be remitted through Head Office only.

14

COLLECTION OF CHEQUES BENEFICIARIES OF RAJEEV GANDHI RURAL HOUSING SCHEME:

 

Nodal Branch shall debit Rs.5/- per Cheque to interest on FD A/c of the RGRH Corporation and other Branches shall collect Rs. 05/- per cheques from individual beneficiary while making instant payment upto Rs. 7,500/-.

For cheques over Rs. 7,500/- usual collection charges & Postage shall be collected.

15

Collection of Instrument through IDBI , ICICI & GTB:

 

While collecting the instrument through IDBI (Industrial Development bank of India ), ICICI & GTB, 100% commission + postage need to be collected.

 

16

CHEQUES TENDERED BY RBI:

 

Cheque tendered by RBI under “ROBC” shall be collected without deducting commission and postage.

 

17

PROCEEDS INVESTED IN FIXED DEPOSITS:

 

Collection charges on outstation instruments may be waived to the extent of amount of proceeds invested in term deposits for a minimum period of 91 days.  However, our usual collection charges, postage, commission paid out etc are to be collected on the portion of amount not invested in Term Deposits. 

 

23.2.0         INTEREST/DISCOUNT OF CHEQUES/DEMAND DRAFTS/PAY ORDERS.

 

23.2.1.              PRESENT CHARGES:

 

Rs.0.3 per Rs.100/- + collection charges + postage and other out of pocket expense with a minimum of Rs.10/- for the first Seven days including the day of discounting.

For delay beyond 7 days, in addition to the above charges, overdue interest at 2% over the normal rate (Presently, 15.5% + 2% = 17.5% p.a.)  should be collected from 8th day of Discounting till the date of realisation of instrument.

 

23.3.0.        PAY ORDERS/BANKERS CHEQUES:

23.3.1                          PRESENT RATES:

 

Rates For both Cash & non-Cash transactions.

Upto Rs. 5000/-

Rs.20/-

Above Rs.5000/- upto Rs. 10000/-

Rs.25/-

Above Rs.10000/-

Rs.1/- per Rs.1000/- or part thereof with a minimum of Rs.25/- & maximum of Rs.1500/-.

 

 

23.4.0. EXCHANGE ON REMITTANCES:

Charge per Demand Draft/MT and Issue of ICICI, IDBI AND UTI Cheque in lieu of our/Syndicate Bank DDs (For both Demand Drafts of our Bank and Syndicate Bank)

 

23.4.1.        PRESENT RATES:

 

Rates For both Cash & non-Cash transactions.

For amount upto Rs. 5000/-

Rs.20/-

Above Rs.5000/- upto Rs. 10000/-

Rs. 25/-

Above Rs.10000/-

Rs.2/- per thousand or part thereof with a minimum of Rs. 25/- and maximum of Rs.5000/-.

 

 

23.5.0.        TRANSMISSION CHARGES (POSTAL TARIFF)

 

23.5.1.        PRESENT CHARGES:

 

 

Rates 

Ordinary Post

Rs.10/-

Registered Post

Rs. 30/- or actual whichever is higher

Telegram/Telex

Rs.30/- or actual whichever is higher

Courier Charges

Rs.30/- or actual whichever is higher.

Telephone Charges

Rs. 5/- per local call (within radius of 50 Kms.)

Rs.10/- per outstation call (beyond radius of 50 Kms) or actual whichever is higher.

 

23.6.0.        LEDGER FOLIO CHARGES:

 

23.6.1.        PRESENT CHARGES:

 

Ledger folio charges at the rate of Rs.75/- per folio  (one side of ledger page) for both manual and computer page (30 entries or part thereof considered as one ledger page / folio) should be charged per annum.

 

The Number of Free ledger folio shall continue as per the existing guidelines.

 

Average credit Balance

No. of free ledger pages/folio.

Upto Rs. 25000/-

NIL

Above Rs. 25000/- and upto Rs. 50000/-

3

Above Rs. 50000/- and upto Rs. one lakh

5

Above Rs. one lakh to two lakh

10

Above two lakh

No ledger folio charges.

 

The ledger folio charges are Applicable to:

a)     Current A/cs.

b)     OD/ODD/SOD/Cash Credit A/cs.

c)     All General loan Accounts (such as OSL/RT/SB) sanctioned for working capital.

d)     VKCC/Crop OD A/cs, having limit above Rs.25000/-.

 
 
 
 
 
 
 
 

 

23.7.0.        COMMISSION ON GUARANTEE:

 

23.7.1.        PRESENT RATES:

 

Performance Guarantee

(i.e. Guarantee issued in respect of performance of non-monetary obligation of the party).

Rs.100/- + 0.5% per quarter or part thereof with a min. of Rs.1%.

Other than performance Guarantee

Rs.100/- + 0.75% per quarter or part thereof with a min. of Rs.1.5%.

 

Guarantees secured by 100% cash margin in Term dep.

Rs.100/- + 25% of the normal rate of commission stated above under point No. i. or ii, as the case may be

 

23.8.0.        PROCESSING CHARGES ON LOANS/ADVANCES:

 

 

23.8.1.        PRESENT CHARGES:

 

For Advances upto Rs.50 lakh

Processing charges shall be at 0.5% of sanction amount with a minimum of Rs. 50/- .

 
 

For Advances above Rs.50 lakh

Rs.25000/- + Rs.250/- per every lakh or part thereof exceeding Rs. 50 lakh.

 
 

Processing Charges not to be levied for following loans:-

1)   All Priority Sector loans upto Rs. 25000/-  

2)   DRI loans.

3)   SHG loans.

4)   Staff loans.

5)   Advances against term deposit of our Bank.

 
 

Note:

1)   For loans sanctioned under SGSY Scheme, Processing charges shall be at 0.25% of the sanctioned amount with a minimum of Rs.50/-.

2)   For jewel loan accounts, processing charges shall be 0.25% of sanctioned amount with a minimum of Rs.25/-.

3)   For bank guarantees, 50% of the normal processing charges shall be collected as stated under point No 7.2.11

 

 

 

23.9.0.        INSPECTION CHARGES:

 

23.9.1.        PRESENT CHARGES:

 

For Advances upto Rs.25000/-

Rs. 10/- per Inspection per account with a maximum of Rs.50 p.a.

 
 

For Advances Above Rs. 25,000/- & upto and inclusive of Rs. 2 lakh

Priority Loans : Rs. 100/- per Inspection per A/c. subject to maximum of Rs. 500/- per A/c. per annum + service tax

 

Non Priority Loans :Rs. 150/- per Inspection per A/c. subject to maximum of Rs. 750/- per A/c. per annum + service tax

 

For Advances Above Rs. 2 lakh upto Rs.25.00 lakh

 

 

 

 

 


For Adavances above Rs 25.00 Lakh

 


Priority Loans: Rs.200/- per Inspection per A/c with maximum of Rs 1000/-p.a + Service Tax.

Non Priority Loans : Rs 250/- per inspection per a/c with maximum of Rs 1500/- p.a + Service Tax

 

 

 


Both Priority and Non Priority loans : Rs 500 per inspection per a/c with maximum of Rs 3000/- p.a + Service Tax

 

 


 

 

 

 

 

Exemptions:

1)   All Priority Sector Advances upto Rs. 25000/-. 

2)   Jewel loans.

3)   Loans on Deposit (LD) & ODD

4)   Staff loans.

5)   Demand loans given to salaried class, if loan A/c is running regular.

 

   

Note:

 

i)             The term Inspection includes spot Inspection, Periodical follow-up of Advances, obtaining of AODs, Recovery visits and Inspection by our Inspector/ NABARD Official etc.

ii)            Inspection charges are to be levied only when Inspection as above is conducted.

 

 

23.10.0.      OTHER SERVICE CHARGES:

 

1

Penalty for non maintaining minimum balance in SB/CA

Rs.10/- per month for SB A/c.

Rs.50/- per month for Current A/c.

Rs.25/- per month for JPSB A/c.

Rs.100/- per month for VPSB & VSPSB A/c if average monthly balance below the stipulated limit.

Not applicable to:

a)    Staff & Govt. deposit A/c.

b)   Pensioners

c)    Ex-employees of our Bank.

d)   No frill accounts.

2

Minimum Balance limits

For current A/cs of individuals, min. limit shall be Rs. 2000/- and Rs. 500/- for urban branches and non-urban branches (Semi-urban/Rural) respectively. For current a/c belonging to other than individuals, min. balance is Rs. 3000/- & Rs. 1000/- in case of Urban and non-urban branches respectively

Rs.500/- for SB A/cs with a Cheque book facility, Rs. 250/- and Rs. 100/- for SB A/cs without Cheque book facility in case of Urban Branches and Non-urban Branches (semi-urban/Rural) respectively. For SB A/c of salaried persons min. balance is Rs. 200/- and Rs. 100/- for urban branches and non-urban branches respectively.

JPSB accounts: Minimum of Rs. 1000/- shall be maintained.

Rs. 10000/- for VPSB accounts and Rs.20000/- for VSPSB accounts.

3

Charges for issuing of cheque book

For Non-MICR Cheque :

Rs. 1.5/- per Cheque leaf for SB/Current/OD/CC A/c holder. For MICR cheques Rs. 2.5 re cheque leaf SB/Current/OD/CC A/c.  However, for SB A/cs of individuals, first 40 leaves will be issued free in a calendar year.

In rural areas Rs.1/- per cheque leaf with a free 30 leaves in a calendar year.

Exemption: SB/ODD A/cs of Staff members.

4

Issuing of Duplicate DDs/ Banker’s Cheque/Pay orders

Rs. 50/- per instrument.

5

Cancellation/revalidation of DDs/Pay orders

 

Rs. 25/- per instrument.

6

Issuing of duplicate Pass book/statement/Loans pass book

Rs. 20/- per passbook with latest balance.  For upto date entries Rs. 25/- per ledger page or part thereof.

7

Stop payment charges:

 

Rs.25/- per instruction per instrument.

8 (i)

Standing instructions:

(Which involves remittances of funds to other Branches for credit to parties own A/c or in favour of 3rd parties.

Rs.10/- + Postage + Commission applicable if remitted by way of DD/TT/MT/PO.

8  (ii)

Standing Instruction:

(Which involves credit to other than customer’s own A/c at the Branch)

No charges

9

Change in operational instruction

Rs.10/- per occasion.

10

Issuing Duplicate Term Deposit Certificate receipt:

Rs. 30/- per Certificate/ receipt.

11

Service charges on Dormant A/cs.

a)    For Dormant deposits, Rs. 10/- shall be debited every year.

b)   For revival of Dormant deposit A/c, no charges shall debited.

12

Cost of name plate

Rs. 50/- per nameplate.

13

Issuing of No due Certificate (NDC)

Rs.20/- per certificate.

Note:

1)   No NDC charges for applicants under Govt. Scheme.

14

Charges for closure of SB/Current A/cs

 

 

Irrespective of age of the A/c, Rs. 10/- for SB A/c & Rs. 25/- for Current A/c.

Exemption:

*For the transfer of SB A/cs from one Branch. to another.

*For closure to open a new A/c.

*Death of depositor.

15

Issue of balance confirmation/ Interest paid certificate.

 

Rs. 20/- per Certificate

16

Penalty for delay in payment of installment of Sanchayani Deposit a/c

Rs.1.5 for every Rs.100 p.m. for the SD A/cs of 5 years & less. A penalty of Rs.2/- for every Rs.100/- p.m. for SD A/c of above 5 years.

17

Locker rent

As per individual communication received by the branches from the HO in this regard.

18

Service charges on non-availment of loan after sanction of proposal

 

Only applicable processing charges to be collected.

19

Upfront fee for premature closure of loan A/c by transfer/takeover of liability by other Banks

 

For Advances outstanding above Rs.5 lakh, 0.5% of the loan amount outstanding.

20

Service charges/ frequent withdrawals in SB A/c

If withdrawals exceed 50 per half year in SB A/c, Rs.50/- per half year.

21

Service charge for overdrawals in current A/c resulting in its debit balance. (Where the party is not enjoying OD limit).

a)    For overdrawals upto Rs.5000/-, Rs.10/- for every cheque passed for payment resulting in debit balance.

b)   For overdrawls above Rs.5000/- to Rs.25,000/-, Rs.20/- per cheque.

c)    For overdrawls for above Rs. 25000/-, Rs.50/- per cheque.

22

JA Fees

1% subject to minimum of Rs. 10/- and max. of Rs. 50/- for Advances upto Rs. 10000/- and Rs. 75/- for loan above Rs. 10000/-

23

Solvency Certificate:

 

Rs. 500/- per lakh subject to maximum of Rs.10000/-

24

Scrutiny of Title Deeds (Legal/Professional Fees)

For Public, 0.5% of the loan amount applied with a minimum Rs. 200/- & maximum of Rs. 500/-

For Staff, Rs. 100/- for staff Housing loans.

25

Issuing of Notice:

Ordinary Notice

 

 

Registered Notice

 

Rs.15/- per party per notice per A/c. (No separate postal charges to be levied)

Rs.40/- per party per notice per A/c. (No separate postal charges to be levied

Note:

Branches should not charge the cost of notices without actually sending the notices to borrowal A/cs.

 

Vakil Notice charges:

Professional fees of Rs. 100/- + Typing and Miscellaneous charges Rs. 25/- + Actual Postage + Service charges Rs.25/- per party/per Account.

26

Loss of token

Rs. 100/- per token

27

Seizure of Hypothecated Assets

As per HO guidelines issued from time to time.

28

Commission / Service Charges for pre-mature closure of ND a/c / Transferring ND amount to Loan A/c

1)     2% commission to be collected for the premature closure before 1 year.

2)     2% commission shall be collected for the transfer/adjustment of pigmy amount to loan account after 6 months and before 1 year either from the date of opening of pigmy account or from the date of previous transfer / adjustment of loan account. (minimum of balance of Rs.1000/- to be maintained in the pigmy account).

3)     Not to pay commission for the lumpsum collection made in anticipation of refund of KD account or during the period of six months preceding the date of refund /maturity/closure of account . the lumpsum collection for the purpose will mean and include any monthly collection made by an agent exceeding three times the normal/average monthly collection during the the period of six months immediately preceding the date of such collection.  

 

 

 

23.12.0.           SERVICE TAX LIABILITY:

 

The Central Government of India has levied Service Tax at 12.36% on all the Services render by the Bank except interest on Advances w.e.f. 1st April 2007.  The charge levied on the Financial Services rendered by the Bank, which attracts Service Tax, are as under:23.8.1.

 

  1. Issue of Demand Draft / Pay Order
  2. Issue of Cheque Book
  3. Bill of Exchange / collection of instrument
  4. Letter of credit
  5. Bank Guarantee
  6. Rent on Safe deposit lockers
  7. Overdraft facilities
  8. Issue of Cheque of ICICI/IDBI/UTI Bank & other commercial Banks
  9. Service charges, Inspection charges, Processing fees, folio charges, and all other service charges as stated under paragraph 23.10.0.

10. Insurance premium

 

Service Tax shall be collected by rounding upto the nearest Rupee. Service Tax is to be levied on any income received in the form of commission / service charges like collecting Telephone bills, Corporation/ Panchayat / KPTCL / Water bill.

 

23.2.2  ELECTRONIC PAYMENT SYSTEM

Type of Electronic Payment 

           System

Charges
ECS-DEBIT                                 NIL
ECS-CREDIT                                 NIL
ECS-RETURNS SB Rs 50/-  CA/OD - Rs 100/-
NEFT Inwards                                 Nil
NEFT Outward

Up to Rs 1,00,000/-  - Rs 5/- per transaction

Above Rs 1 Lakh to Rs 2 Lakh   -  Rs 15/- per transaction

Above Rs 2 Lakh  -  Rs 25/- per transaction

RTGS Inward                                 Nil
RTGS Outward

Above Rs 2 Lakh to 5 Lakh - Rs 25/- per transaction

Above Rs  5 Lakh   - Rs 50/- per transaction.

 


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