Interest Rates on Loans and Advances - Colombo

PARTICULARS

EXISTING RATE

MINIMUM

MAXIMUM

Export Bill Finance - Rupee facilities

AWPLR/PLR

13.50%

Import Bill Finance - Rupee facilities

AWPLR/PLR

14.50%

Lease Finance

NA

NA

Lending to Medium Scale Industries (upto 05 years)

AWPLR/PLR (or) SOFR/COF + 0.50%

14.50%

Trade

AWPLR/PLR (or) SOFR /COF

13.50%

Residential Housing

NA

NA

Pawning

NA

NA

US Dollar Loans to Exporters

SOFR/COF + 0.50%

8.00%

TOD/Clean advances

18.00%

Others

AWPLR/ PLR or SOFR 0.50%

14.50%

Rupee Facilities against Deposits (Demand Loan / CC)

Own rupee deposits

2% over the deposit rate

Third party rupee deposits

3% over the deposit rate

Own foreign currency deposits

PLR + 0.50%

Foreign Currency Facilities against Deposits (Demand Loan / CC)

Own FCY deposits

2% over the deposit rate

Third party FCY deposits

3% over the deposit rate

LKR DEPOSITS

W.E.F 26.02.2024

PERIOD

MONTHLY

MATURITY

01 MONTH

--

6.00%

03 MONTH

--

6.75%

06 MONTH

--

7.00%

12 MONTH

7.50%

7.75%

24 MONTH

7.75%

8.00%

36 MONTH

8.25%

8.50%

48 MONTH

8.25%

8.50%

60 MONTH

8.25%

8.50%

SAVINGS ACCOUNT

3.75%

FCY DEPOSITS

CURRENCY

SB

1 MONTH

3 MONTHS

6 MONTHS

12 MONTHS

USD

0.50%

0.50%

0.65%

0.80%

1.25%

EURO

0.10%

0.10%

0.20%

0.25%

0.40%

GBP

0.25%

0.35%

0.50%

0.75%

1.00%

SERVICE CHARGES APPLICABLE- GENERAL

W.E.F 08.02.2024

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

1000.00

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

0.75% PER QUARTER(min Rs. 10,000/-)

1 % PER QUARTER(min Rs. 10,000/-)

SWIFT CHARGES

USD 20/-

Rs. 4000/-

LC AMENDMENT

SIGHT

0.375% (min USD 50/-) of the amount enhanced

0.75% (min Rs. 10,000/-) of the amount enhanced

USANCE

0.5% (min USD 50/-) of the amount enhanced

1% (min Rs. 10,000/-) - of the amount 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/-

INWARD SIGHT BILL

0.25% ( Min USD 50/-) + USD 50

0.35 % ( Min USD 50/- EQLNT)+ USD 50 EQLNT

SWIFT CHARGES

USD 20/-

Rs. 4000/-

SHIPPING GUARANTEE , DOCUMENT ENDORSEMENT , TELEGRAPHIC TRANSFER

INVOICE ENDORSEMENT CHGS

0.25% form the Invoice value (Min LKR
1500.00 EQLNT)

0.25% form the Invoice value
(Min LKR 1500.00)

SHIPPING GUARANTEE CHGS

For 300% of invoice value-0.25% COMMISSION

(Min LKR 1500.00 EQLNT)

For 300% of invoice value-0.25% COMMISSION

(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 REMMITTANCES

DETAILS

FCY

LKR

FCY REMITTANCE

USD 1 TO USD 500

USD 8

0.5% (Min 8000.00)

USD 501 TO USD 1000

USD 10

0.5% (Min 8000.00)

USD 1001 TO USD 1500

USD 15

0.5% (Min 8000.00)

USD 1501 TO USD 2000

USD 20

0.5% (Min 8000.00)

USD 2001 to USD 5000

USD 25

0.5% (Min 8000.00)

USD 5001 to USD 10000

USD 35

0.5% (Min 8000.00)

USD 10001 to USD 50000

USD 50

0.5% (Min 8000.00)

ABOVE USD 50000

USD75

0.5% (Min 8000.00)

INR REMITTANCE

EFT-IOB BR IN INDIA

INR 10/- EQLNT

INR 10/- EQLNT

NEFT-OTHER BANKS IN INDIA

UP TO INR 100,000/- CHGS INR 20/- EQLNT

UP TO INR 100,000/- CHGS INR 20/- EQLNT

EFT-IOB BR IN INDIA

INR 10/- EQLNT

INR 10/- 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

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

(Fresh & Renewals)

LKR 1500.00 for loans over LKR 1 Mio & below LKR 3 Mio

LKR 1500.00 for loans over LKR 1 Mio & below LKR 3 Mio

LKR 2500.00 for loans over LKR 3 Mio & below LKR 5 Mio

LKR 2500.00 for loans over LKR 3 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

(Fresh & Renewals)

LKR 1500.00 for loans over LKR 1 Mio & below LKR 3 Mio

LKR 1500.00 for loans over LKR 1 Mio & below LKR 3 Mio

LKR 2500.00 for loans over LKR 3 Mio & below LKR 5 Mio

LKR 2500.00 for loans over LKR 3 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 & below LKR 3 Mio

LKR 2000.00 for loans over LKR 1 Mio & below LKR 3 Mio

LKR 3000.00 for loans over LKR 3 Mio & below LKR 5 Mio

LKR 3000.00 for loans over LKR 3 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

Early Settlement of Loans

Within 3 years from the date loan granted - 3% on balance outstanding

Above 3 years and up to 5 years - 2% on balance outstanding

Above 5 years from the date loan granted - 1% on balance outstanding

Re-phasement of loans / Amendments to the original sanction terms

0.05% on the balance outstanding (for Term Loans) / limit (for Working Capital limits)