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Schedule of Service Charges

BANK OF INDIA SERVICE CHARGE REVISION W.E.F 27.02.2020

 
Sl No Item Description   New Shcedule
(Excl. Excise Duty @ 20 %)
    Customers   Others
GENERAL 
1 CHEQUE BOOK  Kshs. 15/-
(including stamp duty of Kshs. 2.50) per leaf
For staff only stamp  duty @ Kshs. 2.50 per leaf  
2 WITHDRAWAL FORM/ COUNTER CHEQUES
(FOR CHEQUE BOOK HOLDERS)
Kshs. 50/- per Instrument
(Max. withdrawal is Kshs 100,000/- per day)
 
3 STOP PAYMENT INSTRUCTIONS   Kshs. 500/- per cheque 
If entire cheque book is  lost, Max. Charge -Kshs. 5,000/-
 
4 STANDING INSTRUCTION  i. At the time of acceptance-Kshs. 500/-
ii. Execution per instance - Kshs. 100/-
iii. Amendment / Stoppage - Kshs. 500/-
iv. Inability to carry SI on account of insufficient balance - Kshs. 1,000/-
 
5 SALARY PROCESSING Kshs. 150/- per Employee  
6 CASH HANDLING FOR LOCAL CURRENCY  (RECEIPT ONLY) Kshs. 1.00 Mn and above per day - 0.125 %  
7 CASH HANDLING CHARGE FOR FOREIGN CURRENCY (RECEIPTS ONLY) In USD or Equivalent
i) Up to 5,000/-   - Nil
ii) Above 5,000/- up to 10,000/-     - 0.125 %
iii) Above 10,000/- up to 15,000/-  - 0.250 %
iv) Above 15,000/- up to 20,000/-  - 0.50 %
v) Above 20,000/-  - 1 %
 
8 MINIMUM BALANCE  CHARGES    i. Current Aaccount (Average Monthly Balance Kshs. 25,000/-) - Charge Kshs.s. 500/-
ii. SB Accounts - No Charges
 
9 CHANGE OF SIGNATORY INCLUDING RECONSTITUTION OF ACCOUNT
(ADDITION DELETION IN JOINT NAME INCLUDING LOCKER)
i. Individual - Kshs. 200/-
ii. Non-Individual - Kshs. 500/-
(No charge for change of name/signatory due to death of one account holder)
 
10 CHARGE FOR INTERNAL TRANSFER  WITHOUT USING CHEQUE BOOK
(FOR CHEQUE BOOK HOLDERS ONLY)
Per Entry Kshs. 50/-  
11 ACTIVATION OF DORMANT ACCOUNT CD Account - Kshs. 200/-  
12 ACCOUNT CLOSURE CHARGES  CD Account - Kshs. 1,500/-  
13 LEDGER FEE/PER ENTRY SERVICE CHARGES FOR CD ACCOUNTS ONLY   Per folio - Kshs. 25/-
Minimum Charge per month-Kshs. 500/-
(30 entries per folio)
(We do not charge for OD Accounts)
 
14 CHEQUE RETURN (INWARD) CHARGE   i. Saving Bank Account - Kshs. 500/- per  cheque 
ii. Current / Overdraft Account - Kshs. 1500/- per cheque
 
15 CHEQUE RETURN (OUTWARD) CHARGE i. Saving Bank - Kshs. 100/- per  cheque
ii. Current / Overdraft Account - Kshs. 500/- per cheque
 
16 BALANCE CONFIRMATION CERTIFICATE             (AT THE REQUEST OF THE CUSTOMER) Kshs. 500/- per Occasion  
17 CERTIFICATION OF DOCUMENT  Kshs. 500/- per Document  
18 AUDIT CONFIRMATION / REPORT Kshs. 1,000/- per Occasion  
19 PROVIDING BANKERS / CREDIT OPINION  REFERANCE LETTER i. Individual - Kshs. 500/-
ii. Non-Individual - Kshs. 1,000/-
 
20 INVESTIGATION / QUERY  ON OLD RECORDS
(CHEQUE, DEPOSIT & WITHDRAWAL)
Per Entry
i. Up to 1 year - Kshs. 250/-
ii. Above 1 year - Kshs. 500/-
 
21 DUPLICATE STATEMENT ISSUE CHARGES   i. SB Account -Per folio Kshs. 50/-,
ii. CD Account - Per folio Kshs. 100/-
 
22 CHARGE FOR ISSUE OF DUPLICATE TDR/ ACKNOWLEDGEMENT INCASE OF LOST TDR Kshs. 500/-  
23 SMS ALERT CHARGES  Kshs. 4/- per Transaction   
24 ATM WITHDRAWAL  CHARGES   Kshs. 55/- per Transaction    
25 I-TAX DEPOSITS              (PER  E-SLIP) Kshs. 250/- per Transacton  
26 COMMISSION ON THE RECEIPT OF HCI  FEES Kshs. 100/- per Receipt  
27 POSTAGES On actual basis For Non-Customers: The  below or the actual, which ever is higher
i. Inland - Kshs. 100/-
ii. Overseas - Kshs. 500/-
iii. Courier (International) - Kshs. 4,000/-
REMITTANCES
1 RTGS CHARGES i. Outward Kshs. 500/- per transaction
ii. Inward - Nil 
 
2 SWIFT (OUTWARD) Kshs. 1,500/- per transaction  
3 E CORP (REMITTANCE TO INDIAN BRANCHES) i. Upto Kshs. 50,000/- Kshs. 500/- 
ii. Above Kshs. 50,000/- to Kshs. 100,000/-  -Kshs. 1,000/- 
iii. Over Kshs. 100,000/-  - Kshs. 1500/-
(Maximum Remittance is USD 10,000/- or equivalent)
For Non-Customers:
i. Upto Kshs. 50,000/- - Kshs. 600/- 
ii. Above Kshs. 50,000/- to Kshs. 100,000/- - Kshs. 1,200/-
iii. Above Kshs. 100,000/- -Kshs. 1,800/-
(Maximum Remittance is USD 5,000.00 or equivalent)
4 INWARD FOREIGN SWIFT/TELEGRAPHIC  TRANSFER For USD TT - USD 10/-  
For  GBP TT - GBP 5/-
Or equivalent to USD 10.00 in other Currencies
 
5 EFT (IRRESPECTIVE OF AMOUNT) i. Through Standing Instructions - Kshs. 100/-&
ii. Others - Kshs. 200/-
 
6 DEMAND DRAFT i. Upto Kshs.  100,000/- - Kshs. 250/- 
ii. Over Kshs.  100,000/- upto Kshs. 1.00 Mn - Kshs. 500/-
iii. Above Kshs. 1.00 Mn - Kshs. 1,000/- per Mn or part thereof
(50% additional over applicable rates in case of issuannce against Cash Deposit) plus applicable SWIFT charges for Foreign Currency DD.
For Non-Customer:
100 % additional of the Charge as applicable to  Customer plus applicable SWIFT charges, if any.
(Higher limit is USD 10,000/- or equivalent)
7 BANKERS CHEQUE    i. Upto Kshs.  100,000/- - Kshs. 250/- 
ii. Over Kshs.  100,000/- upto Kshs. 1.00 Mn - Kshs. 500/-
iii. Above Kshs. 1.00 Mn - Kshs. 1,000/- per Mn or part thereof
(50% additional over applicable rates in case of issuannce against Cash Deposit)
For Non-Customer:
100 % additional of the Charge as applicable to  Customer
(Higher limit is USD 10,000/- or equivalent)
8 ISSUANCE OF DUPLICATE  DD/ BANKER'S CHEQUE  Kshs. 250/- per Instrument   For Non-Customer:
Kshs. 500/- per Instrument  
9 CANCELLATION OF DD/ BANKERS CHEQUE Kshs. 250/- per Instrument For Non-Customer:
Kshs. 500/- per Instrument  
BILLS 
1 FOREIGN CHEQUE/ DDS/ BILLS FOR COLLECTION (OUTWARD BILLS FOR COLLECTION)   i. 0.25 % Minimum Kshs. 500/-
ii. If Bill is of more than Kshs. 500,000/-, then it is 0.20% 
(plus Swift Charges as applicable per message & Postage Charge Kshs. 250/- or actual, whichever is higher) 
 
2 INWARD   BILLS  FOR COLLECTION  0.25 % of the bill amount Minimum  Kshs. 500/-  
(plus Swift Charges as applicable per message & Postage Charges of Kshs. 250/- or actual, whichever is higher ) 
 
3 HANDLING  CHARGE  FOR OVERDUE BILLS
NOTE:  SIGHT BILL OVERDUE AFTER 25 DAYS FROM  PRESENTATION USANCE BILL AFTER DUE DATE
Kshs. 350/- per bill per month
(Fraction of a month to be to be taken as full month)  
 
4 AVAILISATION  OF DOCUMENT 0.25 % per quarter or part thereof  
IMPORT LETTER OF  CREDIT  
1 COMMITMENT CHARGES
 
0.35 % Per Quarter or part there  of 
Minimum Kshs. 1,000/- (commitment) plus applicable Swift charges per message 
(For full validity of the credit i.e. from the date of opening of the LC to the last date of its validity) plus USANCE Charges
Notes: 
1. If fully secured by 100% cash margin in form of FDR or balance in current account  applicable charges will be 50% of the normal charges 
2.These charges are to recovered upfront i.e. at the time of opening of LC
 
2 USANCE CHARGES    i. Upto 10 days sight - 0.35 %

ii. Over 10 days and upto 3 month's sight - 0.70 %

iii. Over 3 months’ sight  - 0.70 % up to three months and 0.17% per month in excess of  three months
Notes: 
1. If fully secured by 100% cash margin in form of FDR or balance in current account  applicable charges will be 50% of the normal charges 
2.These charges are to recovered upfront i.e. at the time of opening of LC
 
3 IF ANY EXTENSION OF THE VALIDITY OF LC FALLS WITHIN A THREE MONTH PERIOD FOR WHICH COMMITMENT CHARGE HAVE BEEN  COLLECTED Kshs. 1,000/- plus applicable swift charges per message  
4 FOR  AMENDMENTS EXTENDING THE VALIDITY OF THE LC BEYOND 3  MONTHS   Fresh commitment Charge at  the applicable rate per Quarter or part thereof Minimum Kshs. 1,000/- on the outstanding liability under LC  
5 FOR ENHANCEMENT OF THE VALUE OF LC   i. Kshs. 1,000/-per amendment for extending validity period beyond 3 months
ii. Fresh  Commitment charge, Minimum Kshs. 1,000/- for enhancement of value of LC
iii. Both commitment and Usance Charge for additional liability  
 
6 IN CASE OF AMENDMENT ALTERING THE TENOR OF THE BILL OF EXCHANGE   As above    
7 ANY AMENDMENT TO A LC,  OTHER  THAN EXTENSION OF ITS VALIDITY OR ENHANCEMENT OF ITS VALUE Kshs. 1,000/- per amendment    
8 ANY REVIVAL OR REINSTATEMENT OF AN EXPIRED LC (SHALL BE AT THE OPTION OF THE BRANCH) WITHIN 3 MONTHS FROM  THE DATE OF EXPIRY   Additional commitment and usance Charge shall be levied from the date of expiry till the validity period of revived LC    
9 DEVOLVEMENT/PAYMENT/ CRYSTALLIZATION OF IMPORT BILLS UNDER LETTER OF CREDIT   0.25% plus applicable swift Charges Per message  
10 DISCREPANCY CHARGES    USD 25/- or equivalent per presentation  
11 CANCELLATION CHARGES Kshs. 2,000/-  
       
EXPORT LETTER OF CREDIT 
1 i) ADVISING OF LC    Kshs. 500/-  
  ii) ADVISING AMENDMENT OF LC   Kshs. 350/-  
  iii) ADDING   OUR  CONFIRMATION    0.40% for 1st Quarter and 0.20% for each subsequent quarter & part thereof; Minimum Kshs. 1,000/-    For Non-Customers:
0.50% for 1st Quarter and 0.25% for each  subsequent  quarter & part thereof; Minimum Kshs. 1,500/-   
  iv) ADVISING  LC OR FOR ADVISING EACH AMENDMENT TO THE BENEFICIARY THROUGH ANOTHER BANK  I.E. NON CUSTOMER     For Non-Customers:
Flat  rate  Kshs. 250.00  in addition to (i)  (ii) and (iii) above
2 EXPORT BILL PURCHASED/ DISCOUNTED/ NEGOTIATED- COMMISSION   i. Up to USD 10,000/- - Kshs. 1,000/-  
ii.  Above   USD  10,000/- - Kshs. 1,000/- for next USD 10,000/- each
(plus SWIFT charges as applicable and postage on actual basis)
 
LETTER OF CREDIT  (INLAND)
1 OPENING/COMMITMENT CHARGE  (FOR FULL VALIDITY OF THE CREDIT I.E. FROM THE DATE OF OPENING OF THE LC TO  THE LAST DATE OF ITS  VALIDITY) MINIMUM FOR ONE  QUARTER  i.  0.50% up to 3 months
ii.  0.30% pm if above 3 months
 
2 USANCE CHARGE   0.30% per quarter or part  thereof    
3 LC IS ENHANCED/ EXTENDED SUBSEQUENTLY     Same as opening  subject to Minimum Kshs. 500/-                            
4 AMENDMENT OTHER THAN ABOVE   Kshs. 300/-  
5 CANCELLATION Kshs. 2,000/-  
  BANK GUARANTEE Foreign BG Inland BG
1 SECURED BY FDR/ CASH IRRESPECTIVE OF TYPE OF BG    0.25% per quarter, Minimum Kshs. 350/- 0.25% per quarter, Minimum Kshs. 350/-
2 UNSECURED/ PARTLY SECURED IRRESPECTIVE OF TYPE OF BG   0.85% per quarter, Minimum Kshs. 350/-  0.85% per quarter, Minimum Kshs. 350/- 
3 SECURED BY PROPERTY   0.55% per quarter  0.50% per quarter, Minimum Kshs. 700/-  
4 SECURED BY LETTER OF COMFORT OF OUR BRANCHES AND OTHER BANKS      0.35% per quarter & part there of, irrespective of type     
ADVANCES
1 PROPOSAL  PROCESSING  CHARGES   A. New Proposal 
i. Fund based - 1% p.a. 
ii. Non-fund based - 0.50% p.a. 
iii. Housing Loans & Loan Against Property - 1% one time 
B. Annual Review
a. Fund based-- 
i. OD limits - 1% p.a.  
ii. Term Loans - 0.50% p.a. 
b. Non-fund based 0.50% p.a. 
 
2 PRE-CLOSURE CHARGES FOR ADVANCES        (ON ACCOUNT OF TAKE OVER/ SHIFTING TO OTHER BANK/FI BEFORE FULL TENURE OF LOAN/ FACILITY) 0.50 % of Outstanding Balance  
3 LATE PAYMENT FEE ON LOAN INSTALLMENTS /OVERDRAWN AMOUNT 1.00 % per month, of the Overdue Installment / Overdrawn Amount  
4 TEMPORARY OVER LIMIT (TOL)/ TEMPORARY OVER DRAFT(TOD) FEE 2 % per annum of the TOD/TOL Amount  
SAFE CUSTODY & LOCKERS
1 FOR DOCUMENTS   Kshs. 1000/- for half year per document
(to be paid in advance)
For Non-Customers :
Kshs. 1500/- for half year per document
(to be paid in advance)
2 FOR SEALED PACKETS   Per half year per  packet:
i. Small ( up to 200 Sq.cm ) - Kshs. 2,000/-
ii. Medium (up to 400 Sq. cm) - Kshs. 2,500/-
iii. Large (up to 600 Sq. cm) - Kshs. 3,000/-
(to be paid in advance)
For Non-Customers :
Per half year per  packet:
i. Small ( up to 200 Sq.cm ) - Kshs. 2,500/-
ii. Medium (up to 400 Sq. cm) - Kshs. 3,000/-
iii. Large (up to 600 Sq. cm) - Kshs. 3,500/-
(to be paid in advance)
3 LOCKER CHARGES
 
   
  TYPE OF LOCKER   Charge per annum  
  SIZE A Kshs. 1,800/- For Staff 50 % concession in the locker Charges
  SIZE B  Kshs. 2,000/-
  SIZE C Kshs. 3,000/-
  SIZE D Kshs. 3,600/-
  SIZE E Kshs. 3,900/-
  SIZE F Kshs. 4,500/-
  SIZE G Kshs. 5,100/-
  SIZE H Kshs. 5,400/-
  SIZE H-1 Kshs. 5,400/-
  SIZE I Kshs. 6,000/-
4 CHARGES FOR RENT ARREARS OF LOCKER 25% rent in arreas (Subject to maximum of 4 years)  
5 CHARGE FOR LOSS OF KEYS/ BREAKAGE OF LOCKER Kshs. 5,000/-
Note: Charge levied by Locker Company to be borne by the Locker Holder additionally
 

Note: All Charges are exclusive of Taxes/Duties