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Last Modified : Apr 23, 2007 12:07 PM
Inward/Outward Collection Instruments

Commission on Collections
Handling Charges for Bills / Cheques Returned Unpaid

 
Commission on Collections

1.Bills for collection
(Clean / Documentary / Demand & usance bills / supply bills) :

Slab

Rate

For amount up to Rs. 1,000 Rs.28
Above Rs.1,000 up to Rs. 5,000 Rs.51
Above Rs.5,0O0 up to Rs. 10,000 Rs.79
Above Rs.10000 up to Rs.1.00 lac Rs.7.85 per thousand or part thereof
Above Rs.1.00 lac up to Rs.10.00 lac Rs. 8.00 per thousand or part thereof with a minimum of Rs.786/-
Above Rs.10.00 lac Rs.8.00 per thousand or part thereof with a maximum of Rs.14030/-
Postal charges as per rates prescribed under "Postal Tariff" will be collected separately along with the commission.
 

2.Cheques for collection :

Slab
Rate
Up to Rs. 500
Rs.11
Above Rs.500 up to Rs.1,000
Rs.17
Above Rs. 1,000 up to Rs. 5,000
Rs.34
Above Rs. 5,000 up to Rs. 10,000
Rs.51
Above Rs.10,000 up to Rs.1.00 lac Rs.5.00 per thousand or part thereof
Above Rs. 1,00,000 up to Rs.10.00 lacs Rs.4.00 per thousand or part thereof with a minimum of Rs.505/-
Above Rs.10 lacs
Rs.4.00 per thousand or part there of with a maximum of Rs.11500/-
 
Postal charges as per rates prescribed under "Postal Tariff" will be collected separately along with the commission.
 
Handling Charges for Bills / Cheques Returned Unpaid

The following charges will be levied by collecting and remitting branches in respect of bills/cheques returned unpaid.

  • Local Cheques :

    i) Cheque issued by our account holders but returned unpaid by us through clearing or across the counter for want of funds and
    ii) Cheques deposited by our customers to the credit of their accounts with us but returned unpaid by other banks
    SB Account                               -            Rs 22.00 per instrument
    CA and OD / CC Account             -            Rs.29.00 per instrument
  • Outstation Cheques :

    50% of the prescribed collection charges as prescribed in I.B above subject to a minimum of Rs.26/-
  • Local / Outstation Bills :

    50% of the prescribed collection charges as prescribed in I.A above subject to a minimum of Rs.26/-

    In the above cases normal commission should not be levied by both the collecting and the remitting banks/branches. However, out of pocket expenses, such as postage, telegram, telex charges, etc. if any, should be recovered in full.
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