Schedule of charges for Small Business Overdraft

Schedule of charges for Small Business Overdraft


w.e.f. February 1, 2015

 Type of Charges  Charges
 Default Interest Rate  24% per annum
 Credit Maintenance Fee  1% of the sanctioned limit, annually
 Documentation and Processing Fees  2% of the sanctioned limit
 Renewal Fees  2% of the sanctioned limit
 Non Utilisation Fees  2% p.a. of the unutilised drawing power
 if average quarterly utilisation is less than
 65% of drawing power.
 Penal charges for non submission or
 delayed submission of Contractual
 Document
 Rs. 10,000/- if the contractual documents*
 are not submitted within 30 days from due
 date.
 CIBIL Report Issuance Charges  Rs. 50/-
 Service Tax  Applicable on fees and charges
 Stamp Duty Charges on Loan Agreement  Depending on local regulations
 No Dues Certificate  Free
 Duplicate Statement Issuance Charges  Rs. 500/-
 Annual Account Statement Charges  Free

*Contractual Documents: Stock and Book Debts statements and / or any other document as specified in the Sanction Letter.

Sanction and Disbursement at sole discretion of the Bank. Schedule of charges is subject to review by the Bank from time to time. All fees and charges mentioned above will attract Service Tax at applicable rates.