Service Charges & Fees



As per RBI directions, a three tier system of service charges to individuals, non-individuals and
special category customers (individuals in rural areas, pensioners and senior citizens) has been
introduced in our Bank with effect from 01.10.2007. 
 

Criteria

Applicable charges

Name of the Bank

Indian Bank

Savings Bank Account  - No frills A/c

Minimum balance

Nil

Charges for non maintenance thereof

Nil

Savings Bank Account with Cheque facility

Minimum Balance

Rs.500/-

Charges for non maintenance thereof

Rs. 30  pm on average monthly balance basis

Savings Bank Accounts without Cheque facility

Minimum Balance

Computerised Branches

Non Computerised Branches

 

M/U

SU/ R

250

250

100

Charges for non maintenance thereof

Rs.30 pm on  average monthly balance basis

Other Savings Bank Account Facilities

Issue of Duplicate statement with entries less than one year old.

Individuals – for SB/CA – Rs.30/-.

Non-individuals—for SB/CA—Rs.35/-.

Special category customers-for SB/CA-Rs.15/-.

Issue of loose cheque leaves

No charges. Issue at the discretion of the Bank

Issue of duplicate pass book with entries less than one year old.

Individuals – for SB/CA – Rs.30/-.

Non-individuals—for SB/CA—Rs.35/-.

Special category customers-for SB/CA-Rs.15/-.

Enquiries relating to old records for item more than one year old.

Rs.60/- per page.

Mode of calculation of minimum balance

SB – average monthly balance basis

Remittance Facilities through own Bank

DD issue

Upto Rs. 1 Lakh
  1. For individuals: 0.30% Minimum Rs. 30/- Maximum Rs.300/-.
  2. For non-individuals:0.30%, Minimum Rs.30/-, Maximum Rs.300/-.
  3. For special category of customers: 0.20% minimum Rs.20/-, Maximum Rs.200/-.
  4. For non-customers against tender of cash, 50% more than above charges will be levied.

Above Rs.1 Lakh
  1. For individuals: 0.26%, Min. Rs.300/-, Max Rs. 11250/-.
  2. For non-individuals:0.26%, Min. Rs.300/-, Max. Rs.11250/-.
  3. For special category of customers: 0.26%, minimum Rs.200/-, maximum Rs.11250/-.

DD - Cancellation

DD value upto Rs.100/-

 

For individuals and non-individuals: Rs.30/-.

For special category of customers: Rs.25/-.

DD value above Rs.100/-

Rs.60/- uniformly for the 3 category of customers.

DD duplicate

Rs.75/- per instrument uniformly for the 3 category of customers.

DD Revalidation 

Rs.50/- per instrument for individuals and special category of customers and Rs.60/- for non-individuals. Revalidation permitted once once.

TT Issue

Any amount

DD charges + Rs.30 towards telegram/ telex charges for the 3 category of customers.

TT Cancellation

NIL

TT Duplicate

NIL

TT Revalidation

NIL

NEFT charges - Inward

NIL

NEFT charges – Outward

 

Normal service charges

E-banking service charges

0.10 % with a minimum of Rs.25/- and maximum of Rs.2250/- + RBI charges

0.10 % with a minimum of Rs.25/- and maximum of Rs. 1500/- + RBI charges

RTGS – Outward  (RTGS is for Rs.1,00,000/- and above only)

 

Normal Service Charges.

E-banking service charges.

Retail customers

 

 

 

0.15% with a minimum of Rs. 225/- and maximum of Rs.2250/- + RBI charges

0.10% with a minimum of Rs.150/- and maximum of Rs.1500/- + RBI charges

Corporate customers

0.15% with a minimum of Rs.225/- and maximum of Rs.2800/- + RBI charges

0.10% with a minimum of Rs.150/- and maximum of Rs.2100/- + RBI charges

RBI charges are nil at present

RTGS - Inward

 a. SB customers

No charges. RBI charges if any to be recovered in full.

 b. Other than SB customers

Rs.30/- per transaction.

If RBI charges for processing of RTGS transactions, then RBI charges will be loaded along with our charges

Remittance Facilities through other Bank

 

DD - Cancellation

 

DD-  Duplicate

 

DD-  Revalidation

 

PO-  Cancellation

 

PO-  Duplicate

 

PO-  Revalidation

 

TT-  Issue

 

TT-  Cancellation

 

TT-  Duplicate

 

TT - Revalidation

 

EFT Charges - inward

 

EFT Charges - Outward

 

RTGS - Outward

 

RTGS - Inward

 

Collection of Cheques

Foreign Exchange Transactions

Remittances Outward:

Exchange and Interest rates applicable
  1. On all outward remittances not being proceeds of Import Bills

           Note: Out ward remittance in

           respect of part or full advance

           remittance against imports will

           attract commission applicable to

           import bills.

 

 

 

 

  1. Issue of foreign currency travelers cheques

  2. Issue of foreign currency travelers cheques issued against foreign currency remittances received from abroad.

 

  1. 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.

 

Note:

  1. Payment of foreign inward    

      remittance

 

 

 

 

 

 

 

  1. Compensation for delayed payment of inward remittances.

      

 

 

      e.   EEFC Accounts

 

           i. Inward remittances credited to

              EEFC account

 

          ii. Outward remittances to the

              debit of EEFC accounts.

 

For DDs issue
0.15 % subject to minimum of Rs.250/-

 

Other than DD

i. Upto Rs.10000 - 0.15 % + SWIFT charges of Rs.200/- subject to minimum of Rs.250 (inclusive of SWIFT charges)
Above Rs.10000– 0.15 % + SWIFT charges of Rs.200/-subject to minimum of Rs.500 (inclusive of SWIFT charges)

 

1.25% on Rupee equivalent payable by the customer

0.35% in case of issuing FTCs against foreign currency remittance at the request of beneficiary with minimum of Rs.290
 

 

Rs.230/- per draft (If beneficiary account with our Overseas branches at Singapore or Colombo, no charges)

 

 

 

 

 

 

As per FEDAI guidelines, all foreign currency inward remittances upto an equivalent of USD.5000, shall be immediately converted into Indian rupees. Remittances in excess of equivalent of USD 5000, shall be executed in foreign currency and the beneficiary has the option of presenting the relative instrument of payment within the maximum period prescribed under FEMA 1999.

Compensation for delayed payment of Inward Remittances would be made as per prevalent FEDAI guidelines.  





Commission of 0.15% to be recovered in lieu of exchange benefit


Commission of 0.15% to be recovered in lieu of exchange benefit

Remittances Inward

 
  1. Encashment of TTs/purchase of MTs/ DDs in respect of which cover has been received in nostro accounts.


 

 

  1. Encashment of TTs/Purchase of TTs/DDs where cover has not been received in Nostro accounts.



 

 

 

  1. Encashment of customer’s personal cheques, demand drafts, international money orders, bankers pay orders payable abroad.




 

  1. Encashment of TCs

 

  1. Inward remittance effected under instructions from foreign correspondents

  1. Where the inward remittance has to be paid in foreign currency by way of a demand draft / mail transfer/ TT

  1. On all clean instruments sent abroad



  1. On foreign currency instruments favouring resident beneficiaries sent for collection within India

 

 

 

Current TT Buying rate PLUS handling charges as under
Upto Rs.50000 - Rs.115
Rs.50000 – Rs.2 lacs- Rs.230
above Rs.2 lacs Rs.575/-
(inclusive of FIRC / postages / courier charges. No interest to be charged)

 

TT buying rate less 0.145% as recovery of exchange margin PLUS handling charges inclusive of FIRC charge /Postages/courier charges as under
Upto -Rs.50000 –Rs.115
Rs.50000 – Rs.2 lacs- Rs.230
Greater than Rs.2 lacs – Rs.575
Interest shall be recovered separately at domestic commercial rate for a transit period of 15 days. 

 


TT buying rate less 0.175%as recovery of exchange margin PLUS handling charges inclusive of FIRC charges and Postages/courier charges as under
Upto Rs.50000 – Rs.115
Rs.50000 – Rs.2 lacs- Rs.230
Greater than Rs.2 lacs –Rs.575
Interest shall be recovered separately at domestic commercial rate for a transit period of 15 days


TC Buying rate + Rs.12 per transaction



Included in Point No.1.a 



0.175% of the amount with minimum of Rs.115 Maximum of Rs.5750




0.30 % Minimum Rs.115/- Maximum Rs.11500/- (may be waived if the value of the instrument does not exceed Rs.15,000)


Charges as applicable for inland transactions

Certificates:

 

For issuing bank certificates on security paper/ letter heads in respect of payment of clean remittances from abroad and/ or for encashment of foreign currency travelers cheques/ foreign currency notes.                                                

 

 

FIRC charges Included in commission itself.

 

 

 

 

TCs – Selling        

1.25% on Rupee equivalent payable by the customer

 

TCs - Encashing

TC Buying rate + Rs.12 per transaction

 

Sale and Purchase of Foreign currency notes and coins

For each transaction of money Exchange (Currency) -sale and purchase        

currency selling and buying rate respectively + Rs. 12/- per transaction.

 

Cheque Collection

Local

Nil

 

Outstation through own bank

Upto Rs.1000

Rs.30/- for individuals and non-individuals.

Rs.25/- for special category of customers.

 

Above Rs.1000 to Rs.5000

Rs.45/- for individuals and non-individuals.

Rs.40/- for special category of customers.

 

Above Rs.5000 to Rs.10000

Rs.65/- for individuals and non-individuals.

Rs.60/- for special category of customers.

 

Above Rs.10000 to Rs.1 Lakh

0.45% Minimum Rs.65/- Maximum Rs. 450/- for individuals and non-individuals.

 

0.45% minimum - Rs.60/-, Maximum –Rs.450/- for special category of customers.

 

Above Rs. 1 Lakh to Rs. 10 Lakhs

0.40% Minimum Rs. 450/- Maximum Rs.4000/- for three category of customers.

 

Above Rs.10 Lakhs

0.35% Minimum Rs.4000/- Maximum Rs.14000/- for three category of customers.

 

Outstation through another Bank

 

 

 

Bouncing of cheques - Local

Outward return

      1. For cheques upto Rs.50000

 

 

 

2. More than  Rs.50000/- to less

      than  Rs. 5 Lakhs.

 

  1. More than Rs.5 Lakhs to less than Rs. 10 Lakhs.

 

  1. Rs.10 Lakhs and above

 

Inward return

 

Rs. 70/- per cheque for individuals, Rs.80/- for non-individuals and Rs.65/- for special category of customers.

 

Rs. 150/-