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Colombo

Last Updated on: 06/12/2024

Colombo

Home >> Overseas Branches and Representative >> Colombo Main Branch

IOB Colombo Srilanka


COLOMBO MAIN BRANCH (ISD CODE 00 94 11)

Code No.

502

Full Address

139, Main Street, Colombo - 11, Sri Lanka

P.B. No.

671

Gram

OVERSEBANK

Telex

-

Telephone

-

Country Head

Shri. Sonwalkar H.A
Phone: +009411-5324411,
Fax: +009411-2447900,

E-Mail: colomboch[at]iob[dot]in

Senior Manager

Office: 5324421
Mobile: +94762426414

Manager

Office: 5324425

Deputy Manager (Treasury)

Office: 5324420

Deputy Manager (Forex)

Office: 5324424

General Lines

Office: 0115324400

Fax

2447900

E-Mail

iobcolombo[at]iobnet[dot]co[dot]in

SWIFT CODE

IOBALKLC

Timings

Working Hours - Week Days 08:24 AM to 05:24 PM

Holiday

Saturday & Sunday


❱ Interest Rates – Loans & Advances

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



❱ Interest Rate on Deposits

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%


❱ Services Charges

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

Minimum Balance 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

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

USD 75

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)


Title Action
Financials - 30.09.2024 View
Financials - 30.06.2024 View
Statement of Commitment to the FX Global Code-IOB-Colombo View
Complaints Handling Process View
Financials - 31.03.2024 View
Financials - 31.12.2023 View
Financials - 30.09.2023 View
Financials - 30.06.2023 View
Financials - 31.03.2023 View
Financials - 31.12.2022 View
Financials - 30.09.2022 View
Financials - 30.06.2022 View
Financials - 31.03.2022 View
Financials - 31.12.2021 View
Financials - 30.09.2021 View
Financials - 30.06.2021 View
Financials - 31.03.2021 View
Financials - 30.12.2020 View
Financials - 30.09.2020 View
Financials - 30.06.2020 View
Financials - 31.03.2020 View
Relief Measures for Borrowers Affected By COVID-19 View
Financials - 31.12.2019 View
Financials - 30.09.2019 View
Financials - 30.06.2019 View
Financials - 31.03.2019 View
Financials - 31.12.2018 View
Financials - 30.09.2018 View
Financials - 30.06.2018 View
Financials - 31.03.2018 View
Financials - 30.12.2017 View
Financials - 30.09.2017 View
Financials - 30.06.2017 View
Financials - 31.03.2017 View
Financials - 31.12.2016 View
Quarterly Financial Result 30.09.2016 View
Quarterly Financial Result 30.06.2016 View
Quarterly Financial Result 31.03.2016 View
Quarterly Financial Result 31.12.2015 View
Quarterly Financial Result 30.06.2015 View
Quarterly Financial Result 31.03.2015 View
Quarterly Financial Result 31.12.2014 View
Quarterly Financial Result 30.09.2014 View
Quarterly Financial Result 30.06.2014 View
Quarterly Financial Result 31.03.2014 View
Bank Network Details View
Services Offered View
Interest Rates on Deposits View
Interest Rates on Advances View
Service Charges View
Customer Charter of Licensed Banks View
Key Fact Document View