The Reserve Bank of india has, Vide circular no.DoR .MCS.REC.28/01.01.001/2023-24 (RBI/2023-24/53) Dated August 18,2023 on "Fair Lending Practice – Penal Charges in Loan Accounts" , issued instructions ( “RBI Instructions”) regarding quantum and levy of penal charges on loan accounts. The RBI instructions mandate penalty to be treated as ‘Penal Charges’ and not be levied as ‘Penal Interest’.
We wish to inform you that the penal interest (if and when applicable ) will be treated as Penal Charges with effect from 01-04-2024 for your loan account. The Penal Charges with effect from 01-04-2024 are set out in Schedule I.
Schedule I
Existing Default/ Penal Interest
|
Revised Penal Charges |
As per the Existing Sanction Letter / Loan Agreement |
2% p.a. above current application interest rate (aggregate not exceeding 24% p.a.) There Shall be no further interest charged on the Penal Charges |
Please Note, The said Penal Charges will be subject to GST as per applicable laws on Goods and Service Tax in india , and GST will be charged separately.
______________________________________________________________________________________________________________________________________________________
Service Charges (w.e.f - 10/12/2022) |
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Sr.no |
Charge Description |
New Charges (18%) |
||||
|
|
Income |
GST @ 18 % |
Total |
||
1 |
Locker Rent |
|
||||
|
Locker Rent A Type |
600.00 |
108.00 |
708.00 |
||
|
Locker Rent B Type |
800.00 |
144.00 |
944.00 |
||
|
Locker Rent C Type |
1000.00 |
180.00 |
1180.00 |
||
|
Locker Rent D Type |
1400.00 |
252.00 |
1652.00 |
||
|
Locker Rent E Type |
1600.00 |
288.00 |
1888.00 |
||
|
Locker Rent F Type |
2600.00 |
468.00 |
3068.00 |
||
|
Locker Rent G Type |
2900.00 |
522.00 |
3422.00 |
||
|
Locker Rent H Type |
3300.00 |
594.00 |
3894.00 |
||
|
Locker Rent K Type |
6000.00 |
1080.00 |
7080.00 |
||
|
Locker Rent K1 Type |
6000.00 |
1080.00 |
7080.00 |
||
|
Locker Rent L Type |
6000.00 |
1080.00 |
7080.00 |
||
|
Locker Rent H1 Type |
2000.00 |
360.00 |
2360.00 |
||
|
|
|
|
|
||
2 |
Stop Payment Charges (Per Instrument) (Issued cheques / Lost cheques for all Deposit Accounts)(Maximum charges Rs.1000+GST) |
100.00 |
18.00 |
118.00 |
||
3 |
Maintenance of Minimum Balance (Per Quarter) |
|
||||
|
Savings A/c (Non Chq) Minimum Balance = ₹ 1000 |
25.00 |
4.50 |
29.50 |
||
|
Savings A/c (With Chq) Minimum Balance = ₹ 2000 |
|||||
|
Current A/c Minimum Balance = ₹ 5000 |
|||||
|
Premium Savings A/c Average Balance = ₹ 50,000 |
500.00 |
90.00 |
590.00 |
||
|
Premium Current A/c Average Balance = ₹ 1,00,000 |
500.00 |
90.00 |
590.00 |
||
|
Super Premium Savings A/c Average Balance = ₹ 5,00,000 |
1000.00 |
180.00 |
1180.00 |
||
|
Super Premium Current A/c Average Balance = ₹ 5,00,000 |
1000.00 |
180.00 |
1180.00 |
||
4 |
Return Charges Inward |
350.00 |
63.00 |
413.00 |
||
5 |
Return Charges Outward |
100.00 |
18.00 |
118.00 |
||
6 |
Cheque Book Issue (CU / CC / OD) |
3.00 |
0.54 |
3.54 |
||
|
Premium Current Account Per LEAF (135 LEAF Free) |
|||||
|
Super Premium Current Account (Unlimited Leaves Free) |
NIL |
||||
7 |
Savings Account Per LEAF (30 LEAF Free) |
3.00 |
0.54 |
3.54 |
||
|
Premium Savings Account Per LEAF (60 LEAF Free) |
|||||
|
Super Premium Savings Account (Unlimited Leaves Free) |
NIL |
||||
8 |
Demat Charges (Inclusive) |
350.00 |
63.00 |
413.00 |
||
9 |
ECS / NACH Return Charges |
250.00 |
45.00 |
295.00 |
||
10 |
Nach Mandate Charges (Inward) |
250.00 |
45.00 |
295.00 |
||
11 |
ATM Additional Card (Inclusive) |
150.00 |
27.00 |
177.00
|
||
12 |
ATM AMC |
150.00 |
27.00 |
177.00 |
||
13 |
Card Replacement |
200.00 |
36.00 |
236.00 |
||
14 |
Pin Replacement |
100.00 |
18.00 |
118.00 |
||
15 |
Outstation Bills Return Charges |
250.00 |
45.00 |
295.00 |
||
16 |
O.B.C Return Charges |
100.00 |
18.00 |
118.00 |
||
17 |
Duplicate Passbook One Year Entry (Max 2 Page) |
50.00 |
9.00 |
59.00 |
||
18 |
Additional Page / Statement Per Page |
15.00 |
2.70 |
17.70 |
||
19 |
RTGS Charges |
|
||||
|
2 Lakh to 5 Lakh (No Charge via digital Channel) |
24.00 |
4.32 |
28.32 |
||
|
> 5 Lakh (No Charge via digital Channel) |
49.00 |
8.82 |
57.82 |
||
|
Premium Current & Premium Savings Account |
NIL |
||||
|
Super Premium Current & Super Premium Savings Account |
NIL |
||||
20 |
NEFT Charges |
|
||||
|
Upto ₹ 10,000 (No Charge via digital Channel) |
2.50 |
0.45 |
2.95 |
||
|
> 10,000 upto 1,00,000 (No Charge via digital Channel) |
5.00 |
0.90 |
5.90 |
||
|
> 1,00,000 upto 2,00,000 (No Charge via digital Channel) |
15.00 |
2.70 |
17.70 |
||
|
Above 2,00,000 (No Charge via digital Channel) |
25.00 |
4.50 |
29.50 |
||
|
Premium Current & Premium Savings Account |
NIL |
||||
|
Super Premium Current & Super Premium Savings Account |
NIL |
||||
21 |
PAY SLIP |
|
||||
|
Upto ₹ 10,000 |
30.00 |
5.40 |
35.40 |
||
|
10,001 to 1,00,000 |
50.00 |
9.00 |
59.00 |
||
|
> 1,00,000 |
100.00 |
18.00 |
118.00 |
||
|
Premium Current & Premium Savings Account |
NIL |
||||
|
Super Premium Current & Super Premium Savings Account |
NIL |
||||
22 |
DEMAND DRAFT |
|
||||
|
Upto ₹ 10,000 |
40.00 |
7.20 |
47.20 |
||
|
10,001 to 60,000 |
60.00 |
10.80 |
70.80 |
||
|
> 60,001 |
₹ 1 per 1000 |
||||
|
|
Max ₹ 1120 (GST Extra) |
||||
|
Premium Current & Premium Savings Account |
NIL |
||||
|
Super Premium Current & Super Premium Savings Account |
NIL |
||||
|
|
|
|
|
||
23 |
DD / PO Cancellation Charges |
50.00 |
9.00 |
59.00 |
||
24 |
Interest Charge on Late Submission of Stock Statement |
2 % of Outstanding Balance |
||||
25 |
Share Transfer Fee |
|
|
7.00 |
||
26 |
Members ID Card Fee |
|
|
34.00 |
||
27 |
Entrance Fee |
|
|
50.00 |
||
28 |
Nominal Membership Fee |
|
|
50.00 |
||
29 |
Duplicate Share Certificate Issue Fee (Per Certificate) |
|
|
50.00 |
||
30 |
Token Lost Charges |
500.00 |
90.00 |
590.00 |
||
|
|
|
|
|
||
|
|
|
|
|
||
31 |
LOAN PROCESS FEE (100 % at the time of Sanction / Process) |
|
||||
|
Loan Upto 1 Lakh |
500.00 |
90.00 |
590.00 |
||
|
Above 1 Lakh to 5 Lakh |
1000.00 |
180.00 |
1180.00 |
||
|
Above 5 Lakh to 10 Lakh |
3000.00 |
540.00 |
3540.00 |
||
|
Above 10 Lakh to 25 Lakh |
5000.00 |
900.00 |
5900.00 |
||
|
Above 25 Lakh to 1 Crore |
0.25 % of Advance Amount + GST Extra |
||||
|
Above 1 Crore |
0.30 % of Advance Amount + GST Extra |
||||
32 |
Account Close Charges (Current Account & Savings Account) |
250.00 |
45.00 |
295.00 |
||
33 |
OD / CC Renewal Charges |
|
||||
|
Upto 10 Lakh |
Nil |
||||
|
Above 10 Lakh |
0.20 % of Disbursed Amount + GST Extra |
||||
Mobile / Internet Banking user gets 50 % discount w.e.f 15/12/2021. (For only those who utilises 10 % of their total debit transactions through Mobile or Internet Banking) |
||||||
34 |
Property Release Charge |
5000.00 |
900.00 |
5900.00 |
||
35 |
Solvency Certificate |
|
|
|
||
|
Upto 1 Lakh |
250.00 |
45.00 |
295.00 |
||
|
Above 1 Lakh to 10 Lakh |
500.00 |
90.00 |
590.00 |
||
|
Above 10 Lakh to 50 Lakh |
1000.00 |
180.00 |
1180.00 |
||
|
Above 50 Lakh |
2500.00 |
450.00 |
2950.00 |
||
|
|
|
|
|
||
|
Advance Facilitation Charges |
|
||||
36 |
TOD / Exceed Charges at the time of TOD |
2000.00 |
360.00 |
2360.00 |
||
37 |
TOD / Exceed Extend Charges |
2000.00 |
360.00 |
2360.00 |
||
38 |
Property Change Request (Per Loan) |
3000.00 |
540.00 |
3540.00 |
||
39 |
Machinery Changes Request |
1000.00 |
180.00 |
1180.00 |
||
40 |
Supplier Changes Request |
1000.00 |
180.00 |
1180.00 |
||
41 |
Resolution Cancel / Extension Request |
1000.00 |
180.00 |
1180.00 |
||
42 |
Switchover Charges (Charges + 18 % GST Extra) |
2 % of Outstanding (Other than Individual only) |
||||
43 |
Commitment Charges (Charges + 18 % GST Extra) |
1 % of Unused Portion |
||||
|
Note :- In CC / OD Accounts (Except against Liquid Assets) 1% Commitment charge to be levied on unused portion if the annual average limit utilization is less than 65% |
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|
|
|
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44 |
Advance Condition Violation Charges |
2 % of Outstanding Amount of Loan / Overdraft or Sanctioned Amount |
||||
45 |
CERSAI REGISTRATION CHARGES (Per Asset) |
|
||||
|
Movable Asset (Fresh Registration) |
100.00 |
18.00 |
118.00 |
||
|
Movable Asset (Existing Registration) |
NIL |
||||
|
Immovable Asset (Fresh Registration) |
NIL |
||||
|
Immovable Asset (Existing Registration) |
NIL |
||||
|
Additional Fee (Movable Asset Fresh Registration) |
NIL |
||||
|
|
|
||||
|
No of Days of Delay in Filing of Security Interest |
|
||||
|
From 31 Days to 40 Days (Two times the amount of applicable fee + Original fee ) |
300.00 |
54.00 |
354.00 |
||
|
From 41 Days to 50 Days (Five times the amount of applicable fee + Original fee ) |
600.00 |
108.00 |
708.00 |
||
|
From 51 Days to 60 Days (Ten times the amount of applicable fee + Original fee ) |
1100.00 |
198.00 |
1298.00 |
||
46 |
SMS Charges Quarterly (Savings , Premium Savings, Cuurent, CC-OD Accounts) |
10.00 |
1.80 |
11.80 |
||
|
SMS charges for Premium Current Account |
NIL |
||||
|
Foreign Letter of Credit |
|
||||
47 |
(A) Sight L/C (DP) :- 0.50% Per LC including Commission & Commission of other Banks (GST – 18 % Extra) |
|
|
|
||
|
(B) Usance L/C (DP) :- 1.50% P.A including Commission of other Banks (GST – 18 % Extra) |
|
|
|
||
48 |
Inland L/C (Usance & Sight) – 0.50% per L/C (GST – 18 % Extra) |
|
|
|
||
|
Inland Guarantee |
|
||||
49 |
1% Commission per annum in case of 100% secured Guarantee / L.C by way of our FD Receipts.In all other cases 1.50% Commission per annum.(GST – 18 % Extra) |
|
|
|
||
50 |
Signature Verification Charges |
100.00 |
18.00 |
118.00 |
||
|
Premium Current & Premium Savings Account |
100.00 |
18.00 |
118.00 |
||
|
Super Premium Current & Super Premium Savings Account |
NIL |
||||
51 |
Balance Certificate Issuance Charges |
100.00 |
18.00 |
118.00 |
||
|
Premium Current & Premium Savings Account |
100.00 |
18.00 |
118.00 |
||
|
Super Premium Current & Super Premium Savings Account |
NIL |
||||
52 |
Cash Handling Charges:- Aggregate Amount Credited in A/C per day including BNA |
|||||
Sr no. |
Cash Deposit Amount |
Charges |
GST |
Total |
||
1 |
Below Rs. 2,00,000 |
Nil |
Nil |
Nil |
||
2 |
Rs. 2,00,000 to Rs. 4,99,999 |
100.00 |
18.00 |
118.00 |
||
3 |
Rs. 5,00,000 to Rs. 9,99,999 |
200.00 |
36.00 |
236.00 |
||
4 |
Rs. 10,00,000 to Rs. 14,99,999 |
300.00 |
54.00 |
354.00 |
||
5 |
Rs. 15,00,000 to Rs. 19,99,999 |
400.00 |
72.00 |
472.00 |
||
6 |
Rs. 20,00,000 to Rs. 29,99,999 |
600.00 |
108.00 |
708.00 |
||
7 |
Rs. 30,00,000 & Above |
1000.00 |
180.00 |
1180.00 |
||
|
|
|
|
|
||
|
|
|
|
|
||
Cash Handling Charges Aggregate Amount Credited in A/C per day including BNA [GST Extra] |
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Premium A/Cs |
||||||
Sr No. |
Cash Deposit Amount |
Savings A/c Qty Min Avg Bal Rs. 50,000/- |
Current A/c Qty Min Avg Bal Rs. 1,00,000/- |
|||
1 |
Below Rs. 2,00,000 |
Nil |
Nil |
|||
2 |
Rs. 2,00,000 to Rs. 4,99,999 |
Nil |
Nil |
|||
3 |
Rs. 5,00,000 to Rs. 9,99,999 |
200.00 |
200.00 |
|||
4 |
Rs. 10,00,000 to Rs. 14,99,999 |
300.00 |
300.00 |
|||
5 |
Rs. 15,00,000 to Rs. 19,99,999 |
400.00 |
400.00 |
|||
6 |
Rs. 20,00,000 to Rs. 29,99,999 |
600.00 |
600.00 |
|||
7 |
Rs. 30,00,000 & Above |
1000.00 |
1000.00 |
|||
|
||||||
|
||||||
Cash Handling Charges Aggregate Amount Credited in A/C per day including BNA [GST Extra] |
||||||
Super Premium A/Cs |
||||||
Sr No. |
Cash Deposit Amount |
Savings A/c Qty Min Avg Bal Rs. 5,00,000/- |
Current A/c Qty Min Avg Bal Rs. 5,00,000/- |
|||
1 |
Below Rs. 2,00,000 |
Nil |
Nil |
|||
2 |
Rs. 2,00,000 to Rs. 4,99,999 |
Nil |
Nil |
|||
3 |
Rs. 5,00,000 to Rs. 9,99,999 |
Nil |
Nil |
|||
4 |
Rs. 10,00,000 to Rs. 14,99,999 |
Nil |
Nil |
|||
5 |
Rs. 15,00,000 to Rs. 19,99,999 |
Nil |
Nil |
|||
6 |
Rs. 20,00,000 to Rs. 29,99,999 |
Nil |
Nil |
|||
7 |
Rs. 30,00,000 & Above |
Nil |
Nil |
|||
|