INDIAN OVERSEAS BANK COLOMBO
SERVICE CHARGES
SERVICE CHARGES APPLICABLE- GENERAL
W.E.F 08.02.2024
Rs.
PAY ORDER ISSUANCE
Upto Rs. 100,000 250.00
RS 100,000.00-Rs. 1 Mio 750.00
Above 1 Mio 1,000.00
MIN BAL CHARGES
Current A/c - Per Month 500.00
Savings A/c - Per Month 100.00
CHEQUE RETURN CHARGES
Outward Return 3,000.00
Inward Return 500.00
BALANCE CONFIRMATION CHARGES
Normal Format 500.00
Specific Format 1,000.00
STANDING INSTRUCTIONS Per Instruction 250.00
ACCOUNT CLOSURE
SAVINGS 500.00
CURRENT 1,000.00
DUPLICATE RECEIPT ISSUANCE 1,000.00
DUPLICATE PASSBOOK ISSUANCE 500.00
FIXED CHARGES-Applicable for current accounts and cash credit accounts.
Half Yearly 1,000.00
STOP PAYMENT CHARGES Per instrument 2,000.00
ACCOUNT STATEMENT Per Page 100.00
CHEQUE BOOK Per Leaf 20.00
CEFTS & SLIPS
CEFTS - per transaction 100.00
SLIPS - per transaction 50.00
RTGS CHARGES 400.00
SERVICE CHARGES APPLICABLE FOR TRADE SERVICES
IMPORTS
DETAILS FCY LKR
LETTER OF CREDIT
LC OPENING/EXTENTION
SIGHT 0.375% PER QUARTER(min USD 50/-) 0.75% PER QUARTER(min Rs. 10,000/-)
USANCE 0.50% PER QUARTER(min USD 50/-) 1 % PER QUARTER(min Rs. 10,000/-)
SWIFT CHARGES USD 20/- Rs. 4000/-
LC AMENDMENT
0.375% (min USD 50/-) of the amount 0.75% (min Rs. 10,000/-) of the amount
SIGHT
enhanced enhanced
0.5% (min USD 50/-) of the amount 1% (min Rs. 10,000/-) - of the amount
USANCE
enhanced enhanced
SWIFT CHARGES USD 20/- Rs. 4000/-
LC BILL ACCEPTANCE Free Free
LC BILL PAYMENT
SIGHT 0.25% (min USD 50/-) 0.25% (min Rs. 10000/-)
USANCE 0.375% (min USD 50/-) 0.375% (min Rs. 10000/-)
DISCREPANCY CHARGES USD.100/- ( Max USD 250) EQLNT USD 100/- ( max. USD 250 EQLNT)
SWIFT CHARGES USD 20/- Rs. 4000/-
COLLECTION BILLS
LODGEMENT
INWARD USANCE BILL 0.25% (min USD 50/-) 0.35 % (min Rs.10000/-)
INWARD SIGHT BILL Free Free
SWIFT CHARGES USD 20/- Rs. 4000/-
COLLECTION BILL ACCEPTANCE Free Free
PAYMENTS
INWARD USANCE BILL USD 50/- EQLNT USD 50/-
0.35 % ( Min USD 50/- EQLNT)+ USD 50
INWARD SIGHT BILL 0.25% ( Min USD 50/-) + USD 50
EQLNT
SWIFT CHARGES USD 20/- Rs. 4000/-
SHIPPING GUARANTEE , DOCUMENT ENDORSEMENT , TELEGRAPHIC TRANSFER
0.25% form the Invoice value (Min LKR 0.25% form the Invoice value
INVOICE ENDORSEMENT CHGS
1500.00 EQLNT) (Min LKR 1500.00)
For 300% of invoice value-0.25% For 300% of invoice value-0.25%
SHIPPING GUARANTEE CHGS COMMISSION COMMISSION
(Min LKR 1500.00 EQLNT) (Min LKR 1500.00)
TELEGRAPHIC TRANSFER IMPORT PAYMENTS USD 25/- 0.35% ( Min 8000.00)
EXPORTS
DETAILS FCY LKR
EXPORT LC ADVISING
CUSTOMERS EQLNT RS.3500/- RS.3500/-
NON CUSTOMERS EQLNT RS.3500/- RS.3500/-
ADVISING OF AMENDMENT
CUSTOMERS EQLNT RS.1000/- RS.1000/-
NON CUSTOMERS EQLNT RS.1500/- RS.1500/-
BILLS RELAZATION
SIGHT BILLS COMMISSION 0.25% (min Rs 1500/- EQLNT) 0.25% (min Rs 1500/-)
USANCE BILLS COMMISSION 0.25% (min Rs 1500/- EQLNT) 0.25% (min Rs 1500/-)
POSTAGE USD.52/- EQLNT USD 52/-
OVERDUE INTEREST 2% 2%
SERVICE CHARGES APPLICABLE FOR REMITTANCE
INWARD REMITTANCES
DETAILS FCY LKR
FOREIGN USD.15/- USD.15/- EQLNT
LOCAL Free Free
OUTWARD REMITTANCES
DETAILS FCY LKR
FCY REMITTANCE
USD.1/ TO USD.500/- USD.8/-
USD.501/- TO USD.1000/- USD.10/-
USD.1001/- TO USD.1500/- USD.15/-
USD.1501/- TO USD.2000/- USD.20/-
0.5% ( Min 8000.00)
USD.2001/- to USD 5000/- USD.25/-
USD.5001/- to USD 10000/- USD.35/-
USD.10001/- to USD.50000 USD.50/-
ABOVE USD 50000 USD.75/-
INR REMITTANCE
EFT-IOB BR IN INDIA INR 10/- EQLNT INR 10/- EQLNT
UP TO INR 100,000/- CHGS INR 20/- UP TO INR 100,000/- CHGS INR 20/-
NEFT-OTHER BANKS IN INDIA
EQLNT EQLNT
ABOVE INR 100,000/- CHGS INR 25/- ABOVE INR 100,000/- CHGS INR 25/-
NEFT-OTHER BANKS IN INDIA
EQLNT EQLNT
GUARANTEES
DETAILS CHARGES
FINANCIAL AND BID BOND
COMMISSION 0.85% PER QUARTER+ VAT
Minimum 2 quarters for first issuance Minimum 1 quarter for extention
PERFORMANCE
COMMISSION 0.56% PER QUARTER+ VAT
Minimum 2 quarters for first issuance Minimum 1 quarter for extention Concessional rate - For
financial/performance/Bid bond guarantees
backed by 100% cash/deposit margin, 25%
of applicable commission to be collected
SERVICE CHARGES APPLICABLE FOR LOANS AND ADVANCES
Type of Charges Existing Amount or Rate Proposed Amount or Rate
Processing fee
1. Term Loans - Own 1.00% upfront 1.00% upfront
2. Term Loans - Syndication through arrangers 0.25% upfront 0.25% upfront
3. Working Capital Limits 0.20% p.a. 0.20% p.a.
4. Demand Loan against Deposits LKR 1000.00 for loans below LKR 1 Mio LKR 1000.00 for loans below LKR 1 Mio
LKR 1500.00 for loans over LKR 1 Mio & LKR 1500.00 for loans over LKR 1 Mio &
(Fresh & Renewals)
below LKR 3 Mio below LKR 3 Mio
LKR 2500.00 for loans over LKR 3 Mio & LKR 2500.00 for loans over LKR 3 Mio &
below LKR 5 Mio below LKR 5 Mio
for loans over LKR 5 Mio @ 0.05% for loans over LKR 5 Mio @ 0.05%
Charges exempted for staff loans Charges exempted for staff loans
5. Cash Credit against Deposits LKR 1000.00 for loans below LKR 1 Mio LKR 1000.00 for loans below LKR 1 Mio
LKR 1500.00 for loans over LKR 1 Mio & LKR 1500.00 for loans over LKR 1 Mio &
(Fresh & Renewals)
below LKR 3 Mio below LKR 3 Mio
LKR 2500.00 for loans over LKR 3 Mio & LKR 2500.00 for loans over LKR 3 Mio &
below LKR 5 Mio below LKR 5 Mio
for loans over LKR 5 Mio @ 0.05% for loans over LKR 5 Mio @ 0.05%
Charges exempted for staff loans Charges exempted for staff loans
6. Temporary Overdrafts / Temporary Limits LKR 1500.00 for loans below LKR 1 Mio LKR 1500.00 for loans below LKR 1 Mio
LKR 2000.00 for loans over LKR 1 Mio & LKR 2000.00 for loans over LKR 1 Mio &
below LKR 3 Mio below LKR 3 Mio
LKR 3000.00 for loans over LKR 3 Mio & LKR 3000.00 for loans over LKR 3 Mio &
below LKR 5 Mio below LKR 5 Mio
for loans over LKR 5 Mio @ 0.075% for loans over LKR 5 Mio @ 0.075%
Charges exempted for staff loans Charges exempted for staff loans
Escrow Charges
Escrow Charges to act as the lead Bank in a Syndication 1.00% p.a.
Charges on CRIB Reports [Credit History/Credit Rating]
Consumer & Corporate LKR 500.00 per report
Inspection Charges
Unit visit charges Variable
Early Settlement Charges
Within 3 years from the date loan granted - 3% on balance outstanding
Above 3 years and up to 5 years - 2% on balance outstanding
Early Settlement of Loans
Above 5 years from the date loan granted - 1% on balance outstanding
Re-phasement of loans / Amendments to the original sanction terms
Re-phasement of loans / Amendments to the original sanction terms 0.05% on the balance outstanding (for Term Loans) / limit (for Working Capital limits)
