Dt.05/01/201 SERVICE CHARGES SCHEDULE
Cash Credit/OD limits
Penal Interest
Penal Interest may be charged from Cash Credit limits who have not deposited financial statements i.e., Balance sheet, Stock statements, ITRs for current financial year result of which CC/OD Limits are expired and in the cases where limits are overdrawn.
Penal Interest charged would be levied @0.50% less than the regular rate of Interest on overdue amount other than the regular Interest charged on monthly basis.
Cash Credit/OD limit Renewal Charges
@ 0.25% of sanctioned limit. * as renewal of Cash credit/OD limit is charged by the bank.
Ledger folio charges on Cash credit limits & Current accounts will automatically applied by the system @ Rs.500/- per annum.
Ledger folio charges on Loan Accounts
.@0.10% of sanctioned amount or Minimum of Rs.200/- whichever is higher on annual basis. **
Rakesh Sharma
(Chief executive officer)
*The Renewal Charges may be relaxed upto 0.15% of sanctioned limit on Discretion of Branch Manager i.e BM can waive off Renewal charges of 0.10% on those Cash Credit/OD limits which are performing well. Further HO will have the Discretion of waiving off 0.05% extra renewal charges in addition to 0.10% only in the cases where the limits are performing as per RBI Guidelines and whose IRAC status has always remain below the status 2 . All the Cases where renewal charges would be waived by Branch Managers shall be intimated to Head Office.
** Minimum Charges shall be recovered in all the Term loan accounts. The BM has the Discretion to waive off Ledger folio charges above the Minimum charges in the term loan accounts which are in the Standard Category and has never remain Sub-Std throughout its term.
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