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SERVICE CHARGES & FEES 

Service Charges of the Bank have been revised with effect from 01.07.2016 as below:-


[1.0] SERVICE CHARGES TO MAINTAIN A LEDGER ACCOUNTS

[1.1] Ledger folio charges for Current / CC / OD Accounts

 

Rs.2/-per Entry/record, minimum Rs.50/-maximum Rs.1000/- (per quarter) over & above free of charge given below.

However, if no transaction have been made during the quarter, a minimum of Rs.50/- would be charged

 

Free ledger folio/free of cost entries

 

Average credit balance

Free entries

a) Up to Rs.50000/-               
 
b) Above Rs.50000/- up to Rs.75000/-

c) Above Rs.75000/-  up to Rs.200000/-

d) Above Rs.200000/- up to Rs.500000/   

e) Above Rs.500000/-

50 entries per quarter

75 entries per quarter

150 entries per quarter

 

250 entries per quarter

Unlimited entries

Free of cost, above Rs.5 lacs.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

[1.2] Charges of stop payment instructions:
SB Accounts

All Customers:

 

Rs.50/- per instrument maximum Rs.400/- per instruction in all branches.

Rs.30/- per instrument and maximum Rs.250/-per instruction in case of pensioners and Senior Citizens.

 

Current Accounts/CC/OD Accounts

 

Non- Individuals –


Rs. 200/- per instrument, Maximum  Rs. 600/- per instruction

 

Individuals-
Rs. 100/- per instrument, Maximum   Rs. 500/- per instruction.

 

[1.3] Issuance of Pass Book:

 

Free. The Pass Book shall be updated free of cost.

 

[1.4] Issuance of duplicate account statement / passbook:

 

Rs.100/- with latest  Balances  Or

i) Rs.1/-per entry/record in Rural/Semi-Urban/Branches, minimum Rs.100/-.

ii) Rs.2/-per entry/record in Urban/Metro Branches –

(MinimumRs.100/- Maximum Rs1000/- for all branches.)

 

[1.4.1] Minimum Balance  in Savings Accounts: -

 

(i) For all branches other than rural

 

(a)  Where Cheque book is not issued  - Rs.500/-

(b) Where Cheque Book is issued – Rs.1000/-

 

(ii) Rural Branches:- Rs.500/-

 

(irrespective of whether cheque book is issued or not)

 

[1.4.2]Minimum Balance  in Current Accounts: -

 


Rural

Rs.500/-

S-Urban

Rs.1000/-

Urban:-

Personal A/C

Rs.1000/-*

Other A/c

Rs.5000/-

Metro:-

Personal A/C

Rs.1000/-*

Other A/c

Rs.5000/-


 

 

 

 

 

 

 

 

 

 

*concession allowed for attracting CASA Deposit

 

[1.4.3] Service Charges if Minimum balance not maintained in Savings Bank / Current Accounts:

 

Saving Bank A/c

    Nil

Current A/c

    Nil

 

[1.5] charges mentioned above are not chargeable in

 

i) No Frill A/c
ii) Pensioners A/C
iii) Senior Citizens A/c
iv) Salary A/C of staff & other accounts specified from time to time.

 

[1.6] Inoperative Accounts:

 

(a) All Current Accounts in which there has been no operation for the last two year with the exception of Service Charges / Incidental Charges levied by bank shall be categorized as Inoperative Accounts.

 

 (b) All Savings Bank Accounts in which there is no operation for the last two years with the exception of service Charges / incidental Charges levied by bank and Interest entries credited by bank shall be categorized as Inoperative Accounts.

 

(However debit as well credit transactions induced at the instance of customers as well as third party shall be considered for calculating the period when the account inoperative)

 

Charges for Inoperative Savings Bank Accounts:-    Nil

 

Charges for Inoperative Current Accounts:-    Nil

 

[1.7]:  Cash Handling Charges for Cash Deposit in Current/ OD/Cash Credit Accounts:-


No charges on cash deposited Up Rs. 1 lac per day.

 

Thereafter Rs.1/- per thousand or part thereof. [Minimum Rs.100/- Maximum Rs.5000/-]

 

Note: - In case there is huge deposit of cash in Saving Bank account without retention even for a day, then the charges must also be levied for such deposit of heavy cash at par as stated above. Branch Manager has to ensure that S/B a/c is not used as a current account.

 

[1.8] Charges for Closure of Savings Accounts / Pre-Mature R.D.Account:


(a) Free - if closed within 14 days of first deposit into account.

(b) Rs.150/- if closed after 14 days but within 6 months.

(c) Free - if closed after 6 months

 

[1.9] Charges for Closure of Current Accounts:


(a) Free - if closed within 14 days of first deposit into account.

 

(b) Individual A/c Rs. 400/- & in Other A/c Rs.500/- if closed after 14 days but within 6 months

 

(c) Free - if closed after 6 months

 

[1.10] Standing Instructions:


i) At the time of registration Rs.50/-per transaction

 

ii) At the time of processing standing instructions Rs.35/-+ Remittance charges + Out of pocket expenses

 

Note:

 

a) Standing Instructions charges are to be levied only when the third party is involved in the instructions. Where instructions are for transfer of amount from his / her own account to another his / her own accounts within the branch then no standing instruction charges are to be levied. However, if customer gives instructions for payment of Telephone Bills / Electricity Bills / House Rent Payment etc. or any payment to other customer’s A/c then charges should be levied for standing instructions.

 

b) Standing Instructions, even if not carried out, due to insufficient balance in the account, would also be liable for Service Charges per transaction.

 

 [1.11] Cheque Book Charges: -

 

 

i) Savings Banks Account

 

30 leaves free per year, for extra leaves Rs.3/- per leaf.

 

ii) Current Account

 

(i) Rs.2.50/- per leaf for individual A/C. 

 

(ii) Rs. 3/- per leaf for Non-individual A/C.

 

 

 

 

 

 

 

 

[2.0] CHARGES FOR REMITTANCES / COLLECTION

 

[2.1] Charges for remittances/ Issuance of DD/MT/TT :-

 

 

Upto Rs.10000/-

 

Rs.40/-

 

Above Rs.10000/- 

 

Rs.3.50/- per thousand or part thereof
Min.Rs.50/- &Maximum of Rs.12500/-

 

 

 

 

 

 

 

 

 

Service Charges for students for issuance of DD up to Rs.5000/- in respect of remittance of application fee shall be Rs.20/- only. Above Rs.5000/-normal charges will apply (free for students availing Education loan from our bank)

 

 

[2.2] Remittance through National Electronic Fund Transfer (NEFT)/ Real Time Gross Settlement (RTGS), (Electronic Fund Transfer):-


A) Inward RTGS / NEFT / Remittance: -

 

Free (No Charge to be levied)

 

B) Outward transactions:-

 

RTGS:-

 

A) RTGS Charges shall be charged by RBI from Bank as under:

 

A. Inward Transactions: Free

 

B. Outward Transactions:-

 

(i) Membership Fees: Monthly Membership fee for Scheduled Commercial Banks (SCB) =Rs.5000

 

(ii) Transaction fee (per transaction):-

 

Every outward transaction will attract flat processing charge at the earlier cap of Rs. 0.50

 

(iii) Time varying tariff:-

 

S. No

Time of
settlement at the RBI

Charge
per transaction

From

To

1

08.00 hours

11.00 hours

Nil

2

After 11.00 hours

13.00 hours

Rs. 2.00

3

After 13.00 hours

16.30 hours

Rs. 5.00

4

After 16.30 hours

 

Rs. 10.00

 

RBI will calculate service charges on a monthly basis for each member and the amount will be debited from the current account of the respective member maintained with Deposit Accounts Department, Reserve Bank of India, Mumbai at the end of the month. The necessary reports on service charges collected from each member would be made available by the Deposit Accounts Department, Reserve Bank of India, Mumbai.

 

B) RTGS Charges to be charged by Bank from its customers

 

A. Inward Transactions:   Free

 

B. Outward Transactions:

 

(i) Rs. 2 lakh to Rs. 5 lakh

 

S. No

Time of settlement at the RBI

Charges to be levied

From

To

1

08.00 hours

11.00 hours

Rs. 25/- per transaction

2

After 11.00 hours

13.00 hours

Rs. 27/- per transaction

3

After 13.00 hours

16.30 hours

Rs.30/- per transaction

4

After 16.30 hours

 

Rs.30/- per transaction

 

 

(ii) Above Rs. 5 lakh

 

S. No

Time of settlement at the RBI

Charges to be levied

From

To

1

08.00 hours

11.00 hours

Rs. 50/- per transaction

2

After 11.00 hours

13.00 hours

Rs. 52/- per transaction

3

After 13.00 hours

16.30 hours

Rs.55/- per transaction

4

After 16.30 hours

 

Rs.55/- per transaction

 

NEFT:

 

Upto Rs.10000/ - Rs. 2.50 + Service Tax


Above Rs.10000/- to Rs.1 lac- Rs. 5.00 + Service Tax


Above Rs.1 lac to Rs.2 lac - Rs.15.00 + Service Tax


Above Rs. 2 lac - Rs. 25.00 + Service Tax


(Service tax & Education Cess extra)

 

C) Electronic Clearing Services :-  ( Handling charges for ECS Returned Unpaid)


Local ECS Transaction:

 

(a) Debit - Rs.50/-Per transaction, where the account holder is drawer of the ECS transaction.

 

(b) Credit-Rs.25/- per transaction, where the account holder is payee of ECS Transaction.

 

Outstation ECS Transaction: Rs.50/-per transaction.

 

Please note that these charges shall be applicable for all types of transactions including Inter Bank Fund transfers.

 

D) ECS operation under NACH Platform as Sponsor Bank


(i) ECS (Credit)

 

No charges to individual beneficiary’s account.   

 

For Corporate bodies / Institutions

 

Minimum charges Rs.2000/- + charges payable to NPCI and Destination Bank, if any.

 

A) Upto 10000 entries per occasion - @Rs.5/- per  entry  + charges payable to NPCI and Destination bank, if any.      

B) Above 10000 to 100000  entries   per occasion - @ Rs.3/- per  entry+ charges payable to NPCI and Destination Bank, if any. (Subject to a minimum of Rs.50,000)    

C) Above 100000 entries per occasion - @Rs.2/-per  entry+ charges payable to NPCI and Destination Bank, if any. (Subject to a minimum of Rs. 3,00,000/-)  (Exclusive of Service Tax)

 

 

(ii) ECS (Debit)

 

For Individuals

 

Rs. 3/- per transaction charges + charges payable to NPCI and destination bank, if any.

 


For Corporate bodies / Institutions

 

Rs. 3/- per transaction charges Minimum Charges Rs.2000/- + charges payable to NPCI and destination bank, if any. (Exclusive of Service Tax)

Subject to recovery of all out of pocket expenses including processing charges in case they are ever again levied by Reserve Bank of India / NPCI.

 

(iii) ECS (Debit) Return for non availability of funds in customer account - Rs.100/- + Service Tax

 

(iv) Charges in respect of ECS Mandate registration-

 

(For Individuals & Corporate bodies/ Institutions) :- Rs.50/-.

 

Note:

 

1. In terms of RBI guidelines, No charges will be levied in respect of INCOME TAX
REFUND ORDERS.

 

2. ECS Operations are not applicable for RD Accounts.

 

3. All type of charges are exclusive of service tax or any other statutory charges which would be
charged additionally.

 

(The above mentioned charges would be applicable on implementation of “ECS operation under NACH Platform as Sponsor Bank” in our Bank)

 

Charges payable to NPCI and Destination bank:


• As a sponsor bank, we will pay to destination bank Rs.5/- for each of mandate processed within Turn around Time (TAT).


• NPCI levy Rs. 1.50 towards processing service of mandate (Rs. 1.00 to mandate initiating bank and Rs.0.50 to mandate receiving bank). However, NPCI is offering mandate processing service free of cost till December 31, 2017.


• As a sponsor bank, we will pay Rs.0.70/- per transaction to NPCI and Destination bank.

 

All charges will be exclusive of service tax or any other statutory charges which will be payable separately.

 

 

 

[2.3]   CLARIFICATION:


Remittance through IBR alone is not permitted.


[2.4] However please note that remittance through DD/MT/TT / /EFT by tender of cash, cash handling charges would be levied @30% extra of normal

charges & if above Rs.50000/- by tender of cash  the Income Tax Rules are also applicable.


[2.5] Note that where a company/constituent is sanctioned credit facilities to be availed at two or more centers, in such cases, transfer of funds between these centers are allowed at par. However, actual out of pocket expenses @ Rs.50/- per transaction are to be recovered.

 

[2.6]CONCESSION FOR ISSUANCE OF EXCHANGE FREE DRAFTS


(This facility is provided by our bank to valued customers)


(A) FOR SAVING BANK ACCOUNT HOLDERS:


i) On Maintenance of Rs.25,000/- as minimum balance in Saving Bank Account throughout the month the account holder will be entitled for TWO exchange free Drafts up to the maximum overall ceiling amount of Rs.25,000/- each to be entitled in the following month only, from the same account
ii) On Maintenance of Rs.50000/- as minimum balance in Saving Bank Account throughout the month the account holder will be entitled for TWO exchange free Drafts up to the maximum overall ceiling amount of Rs.50,000/- to be entitled in the following month only, from the same account.


(B) FOR CURRENT ACCOUNT HOLDERS: -


i) On maintenance of Rs.50,000/- or more as minimum balance in Current Account throughout the month the account holder will be entitled for Three  exchange free Drafts up to the maximum overall ceiling amount of Rs.50,000/- each to be entitled in the following month only, from the same account
ii) On maintenance of Rs.1,00,000/- as minimum balance in Current Account throughout the month the account holder will be entitled for THREE exchange free Drafts up to the maximum overall ceiling amount of Rs.1,00,000/- to be entitled in the following month only, from the same account
Please note that the above facility will be non cumulative in nature.

 

[2.7] Concession to Premier Saving Bank A/C/Current A/C:


Definition of: -PSB- Premier Saving Bank A/c/ PSB- Premier Current A/C Holders:

 

 

Premier Saving Bank A/C

Premier Current A/C

Rural & Semi Urban Branches

Minimum Balance Rs.50000/-

Minimum Balance Rs.1.00 lac

Urban & Metro Branches

Minimum Balance Rs.1.00 lac

Minimum Balance Rs.2.00 lac

 

Privileges / Concessions: -

 


PSB-Premier Saving Bank Account

PSB-Premier Current Account

1.

Free ATM Cards.

Free ATM Cards.

2.

Statement of A/C without any charge.

Statement of A/C without any charge.

3.

Waiver of Inward Cheque Returning Charges

Waiver of Inward Cheque Returning Charges.

4.

Waiver of Cash Handling Charges on cash deposit up to Rs.3.lacs.

Waiver of Cash Handling Charges.

5.

Waiver of Locker Rent of Small Locker for one year.

Waiver of Locker Rent of Small Locker for one year.

6.

Cheque Book with name of the customer duly printed on the Cheque Book.

Cheque Book with name of the customer duly printed on the Cheque Book.

7.

No Processing Charges (Loan up to Rs.3.00lacs)

Waiver of ledger folio charges.

8.

 

Waiver of Standing Instruction Charges.

9.

 

Waiver of Balance Certificate Charges.

10.

 

Waiver of signature verification Charges.

11.

 

No Processing Charges (Loan Up to Rs. 3.00lacs)

 

[i] Issuance of Duplicate Draft


Same charges as charged at the time of issuance of draft.


[ii] Revalidation of Draft


Rs.100/- +out of pocket expenses.

 

[iii] Cancellation of Draft


Rs.100/-+out of pocket expenses.


[IV] Cancellation of Bankers Cheque / Pay Order


Up to Rs.10000/- Rs.60/-

Above Rs.10000/-  Rs.100/-

 

[3.0] COLLECTION CHARGES:


 [1] Charges for Outstation Cheque Collection not covered by Speed Clearing: -

 

 

Value

 

Service charge from Savings a/c customers

 

Service charge from other than SB a/c customers

 

Up to and including Rs.5,000/-

 

 Rs.27.50

 

Rs.27.50

 

Above Rs. 5,000/- and up to and including  Rs.10,000/-

 

Rs.55

 

Rs.55

 

Above Rs. 10,000/- and up to and including  Rs.1,00,000/-

 

Rs.110

 

Rs.125

 

Above Rs. 1,00,000/-

 

Rs.165

 

Rs.200


 

 

 

 

 

 

 

 

 

 

 

 

 

 

[2] Collection of Outstation Cheques under Speed Clearing:

 

 

Value

Service charge from Savings a/c customers

Service charge from other than SB customers

 

Up to & including  Rs.1,00,000.00

 

NIL

 

Rs. 50/-

 

Above Rs. 1,00,000.00

 

Rs.100/-

 
Rs. 150/-

 

 

 

 

 

 

 

 

(a) All above mentioned charges are inclusive of all charges (postal, courier, handling etc.).

 

(b) Returning charges for Outstation cheques/ instruments sent/ received in Speed Clearing shall be the same as for Local Cheques sent for collection/ received for payment through Clearing House.

(All above mentioned Service Charges are exclusive of Service Tax and Education cess)

 

[3.2] Collection of Outstation Bills charges: - 


(a) Upto Rs. 10000 -Rs.100/+ out of pocket expenses.
(b) Above Rs.10000 - Rs.10/- per thousand. Minimum Rs. 100/- Maximum.Rs.12500/- +out of pocket expenses
Note : Collection of outstation cheques and issuance of MC/DD etc. shall be free of charge to Defense Personnel in active service as well as ex-servicemen, subject to collection of out of pocket expenses.


[3.3]Collection of Deposit Receipt:


A)  Collection of Term Deposit issued by other bank and the proceeds invested in Term Deposit with our bank – No collection/ postage/ out of pocket charges

B) Collection of Term Deposit issued by other bank and the proceeds not invested in Term Deposit –  Charges as applicable for Collection of outstation cheques + postage & other out of pocket expenses

C) Remittance of Proceeds of Term Deposits to any branch of the bank- No remittance charges

D) Remittance of Proceeds of Term Deposits to other banks (received on Collection) – Remittance Charges.

[3.4] Service charges for non-customers involving, handling of cash shall be double for above stipulation for collection business / bills.

 

[4.0] HANDLING CHARGES


[4.1] Handling charges for Cheques / Bills Returned Unpaid: -


Local Cheque / Local bills returned unpaid.

 

(A) Where the account holder is drawer of the cheque/ Bill

(i) For cheque/ bill up to Rs.10000/- Rs.75/- per instrument & for cheque/bill above Rs. 10000/- Rs.125 per instrument in SB A/C.

(ii) Rs.150/- per instrument in CA A/c.

(B) Rs.60/- per instrument where A/C holder is payee of the cheque / bill.

 

[4.2] Local Bills collection charges -


For presentation directly at drawee bank/drawee: - Rs.200/-+ out of pocket expenses or 50% of collection charges  whichever is higher + Out of pocket Expenses

Returning Charges are to be levied invariably when the cheque is returned on counter, through clearing or received directly

Branch Manager has the discretion to waive charges, keeping in view of the business prospects.  (However No charges to be levied from any customers   up to 2 dishonored cheques deposited during a quarter).

Postal Charges for all services to be charged as under:-

Ordinary Post - Rs.10/- or actual expenditure whichever is higher.
Registered post/Courier Charges - Rs.30/-or actual expenditure whichever is higher.


[4.3] POSTAL CHARGES:


Please note that actual postal / communication charges incurred to be recovered always.


[4.4]  Introduction of New Service charges for CBS Branches:-


[4.4.1] AWB/CBS/ Inter-Sol Charges for transfer of Funds, Cash Deposit/ Withdrawal ETC: -


Transfer of Funds:

 

1. Between Accounts at Branches:

 

Located at same clearing Centre/city

Between Accounts with same ID: Free

 

Between accounts with different ID:-

 

i) Up to Rs.50000/-  Free

ii) Above Rs.50000/- to Rs. 1 lac - Rs.5/- per transaction

iii) Above Rs.1 lac - to Rs. 5 lac- Rs.25/- per transaction

iv) Above Rs.5 lac - Rs.50/- per transaction

 

 

 

2.  Accounts at Outstation branches through Cheques / Clearing (Except Speed Clearing)

 

i) Up to Rs. 2.00 lac -   Rs. 5/- per transaction.

ii) Rs. 200001/- to 5 lac -  Rs.25/- per transaction

iii) Above Rs.  5 lac -  Rs.50/- per transaction


Cash Withdrawal Charges: -


3. At Base Branch  -  Free

 

4.  At local non-base branch

 

For Savings customers:

 

i) Up to Rs.1 lac - Free
ii) Above Rs.1 Lac – Rs.1/- per 1000/- or part thereof

 

5. For CC, C/A, OD:

 

i) Up to Rs.50000/- - Free
ii) Above Rs.50000/- Rs.1/- per 1000/- Min.Rs.50/- per transaction.

Maximum Cash withdrawal per day:-
1. for self  Rs. 200000/-
2. for third party Rs.50000/- against cheque.

 

Cash withdrawal at outstation Non-base Branch:

 

6. For Savings Customers:

 

i) Up to 1lac - Free
ii) Above Rs. 1 lac - Re.2 /- per Rs.1000/- or part thereof.

 

7. For CC, C/A, OD:

 

i) Up to Rs.1 lac - Free.
ii) Above Rs.1lac- Re.2 /- per Rs.1000/- or part thereof. Min. Rs.50/- per transaction.

Maximum Cash withdrawal per day:-

1. for self  Rs. 200000/-
2. for third party Rs.50000/- against cheque.

 

 

Cash Deposit at Local Non-Base Branches:-


8. For Savings Customers:

 

i) Up to Re.50000/- per day - Free
ii) Above Rs.50000/- Re.1/- per Rs.1000/- or part thereof.

9. For CC, C/A, OD:

i) Up to Rs.50000/- per day - Free.
ii) Above Rs.50000/- Re.1 /- per Rs.1000/- or part thereof Min. Rs.100.00 per transaction.
(Maximum limit for depositing cash is Rs.5 lac per day per account)

(However, there shall be no charges for depositing cash in RD, Term Loan, Demand Loan including NPA & Protested accounts)


Cash Deposit at Outstation Non-Base Branches:


10. For Savings Customers

 

 Free up to Rs.50000/- per day. Thereafter, Re.1 /- per Rs.1000/- or part thereof.

 

11. For CC, C/A, OD

 

Free up to Rs.50000/- per day. Above Rs.50000/-Re.1 /- per Rs.1000/- or part thereof. Min. Rs.100/-

(Maximum limit for depositing cash is Rs.5 lac per day per account)

(However, there shall be no charges for depositing cash in RD, Term Loan, demand Loan including NPA & Protested accounts

 

Collection of Local Cheques at Base / Non-Base Local Branches (Branches located within same Clearing Centre)


Collection  of Cheques  through  Non- base  outstation CBS  branches: -


i)  Upto Rs.1 Lac : Rs.5/- per transaction

ii) Above Rs.1 lac to Rs. 5 lac:  Rs.25/- per transaction

iii) Above Rs.5  lac : Rs.50/-  per transaction

(by presentment through local clearing, Viz. Customer having an account at CBS branch in Delhi and deposits a cheque at Mumbai which is to be presented to SBI, Mumbai through local clearing.)

 

[5.0] LOCKER / SAFE CUSTODY CHARGES: 


[5.1] Locker Charges: -

 

Size of locker

                          Category of Branches

Urban

S-Urban / Rural

Metro

Small 

1000

1000

1250

Medium

2400

2000

3000

Large

6000

5000

6000

Very Large

8000

8000

8000

 

 

 

 

 

 

 

 

(50% Concession in locker rent charges to existing as well as Ex-staff members of Punjab & Sind Bank).
Note: Penalty for default in locker Rent @ Rs. 50/- per month for small


Rs100/- per month for medium
Rs150/- per month for large
Rs.200/- per month for  Very large to be charged w.e.f. one month after the succeeding month in which the locker rent became due.
FREE LOCKER VISITS: 24 Locker Visits Per Year. For more visits @Rs.50/- per visit to be charged.

 

[5.1.1] Locker Break Open Charges: -


Rs.100/- as incidental charges plus all other expenses incurred in the breaking open of the Locker and replacing the lock should be borne by the hirer and should be recovered before getting the locker broken.


[5.2] Safe Custody Charges: -


i) Scrip's:   Rs.50/- per scrip, mini. Rs.100/- per year or part thereof on each lodgment / release / substitution.
ii) Sealed Covers:  Rs.350/- per cover p. a. or part thereof
iii) Sealed Boxes:  Rs. 3000/- per box p.a. or part thereof  (Size upto 30x30x30cms)
iv) Banks own deposit receipts -   No Charges.

 

6. Others Misc. charges to be charged:


[6.1] Interest Certificate / Balance Certificate/other certificate in Deposit Accounts: -


Rs.100/- (one certificate to be issued free of cost every year)
Charges are to be levied only when the certificate has been lost after issuance and not in the event of Non-receipt.

 

[6.2] Nomination charges:


Rs.100/-(1st option of nomination to be done free of charges) after exercising 1st option of nomination, for every change in nomination in any type of account.


[6.3] Statement of Account Charges: -


•Monthly Statement: Once Free, thereafter, Rs.2/- per entry, Minimum Rs.100/- per request.
•Weekly Statement: Rs.450/- per year, for repeat request, Rs.2/- per entry, Minimum Rs.100/-per request.
•Daily Statement: Rs. 1000/- per year, for repeat request, Rs.2/- per entry, minimum Rs.100/- per request.

 

[6.4] Documents/Bills: received for collection: -


(i) Change of original instructions in respect of outward/inward bill for collection including (waiving C form, delivery free of payment, extending retirement time etc.):- Rs.200/- per reference.
(ii) If required to be delivered Free of Payment to drawee OR to be returned back as unrealized:  Rs.200/- per reference.


[6.5] Advance Against Cheques Presented In Clearing :-


Rs. 100/- in addition of applicable interest. 


[6.6]Charges for Recording Reconstitution of Account: -

 

For Non- individuals A/C - Rs.200/- per occasion. (Exempted in case of death of the existing signatory).

Individuals - No charges for savings and current accounts.

 

[6.7] Allowing operations through power of attorney/mandate: -


(For all type of accounts)

 

Non- individuals - Rs.500/- Per Annum or part thereof.

Individuals - Rs.300/- per annum or part thereof.


[6.8] Change of authorized signatory in Accounts: -
Non- individuals –

 

Rs. 300/- Per Occasion (exempted for change due to death of the existing signatory),

 

Individuals –


Rs.200/-per occasion (exempted for change due to death of the existing signatory), No charges from defense forces, Ex-servicemen, Physically Handicapped, war widows & Sr. Citizens

 

[6.9] Copy of original cheque/draft (paid by the bank):


Rs.100/- for original or Rs.50/- for attested copy per instrument.

 

[6.10] Old Records Inquiries: -


(a) Upto one year old - Rs. 100/-per reference/request/ document/ per sheet + Out of pocket expenses

(b) Beyond one year - Rs.300/- per reference/request/ document/ per sheet + Out of pocket expenses

 

[6.11] Attestation of Signature /Photo: -


Except signature attestation for ECS purpose


Non-Individual -  Rs. 100/- per instrument
Individual customers of Semi-Urban, Urban & Metro Branches - Rs. 75/- per instrument except for Students, Defence forces, war widows, Physically-Handicap.
Individual Customers of Rural branches, Sr. Citizen & Pensioners (Charges for Sr. Citizen & Pensioners are irrespective of location of Branches)-  Rs. 50/- per instrument except for Students, Defence forces, war widows, Physically-Handicap

 

 

 

[7] ATM/Debit card charges :


Sr. No

Parameter

Charges (in Rs.)

1.

ATM/Debit card annual charges from 2nd year onwards

Rs. 100 + Service Tax + Swachh Bharat Cess (SBC), per annum

2.

Re-issue of ATM/Debit card

Rs. 100 + Service Tax + SBC, per instance

3.

Re-issue of PIN number

Rs. 25 + Service Tax + SBC, per instance

4.

ATM transaction charges for saving account

ATM in Metro Cities: 1st Three transactions Free on use of other Banks’ ATMs (financial and non-financial transactions in a calendar month) 

ATM in Non-Metro Cities: 1st Five transactions Free on use of other Banks’ ATMs (financial and non-financial transactions in a calendar month) 
Charges on subsequent transactions thereafter: 

a) Rs.20/- + Service Tax + SBC per financial transaction will be levied 

b) Rs. 9/- + Service Tax + SBC per *non-financial transaction will be levied.

5.

ATM transaction charges for Current/CAOD Account

No Free transactions. Charges levied from 1st transaction onwards on use of other Banks’ ATMs (financial and non-financial both)
a) Rs.20/- + Service Tax + SBC per financial transaction will be levied
b) Rs. 9/- + Service Tax + SBC per *non-financial transaction will be levied

 

Pin change transactions will not be charged.

*Note: Staff is exempted from both annual & transaction charges while Pungrain/KCC card holders are exempted from annual charges only.

Facilities available on use of RuPay & Master Debit Cards :

These cards has a daily cash withdrawal limits of Rs.25000/- per day
A separate daily limit of Rs. 1, 00,000/- is available for POS + e-commerce transactions
In case of clarifications, please contact base branch.

 

[8.0] CONCESSIONS: - Following concessions are allowed subject to recovery of out of pocket expenses


[8.1] CONCESSION TO STAFF MEMBERS: -


Following concession to staff members / ex - staff members of the Punjab & Sind Bank are permitted

a) Ledger Folio Charges: - No incidental charges are to be levied in current accounts.

b) Standing Instructions: - No charges for standing instructions are to be levied.

c) Remittances: - All Demand Drafts / Mail Transfers / Telegraphic Transfer/ Electronic Fund Transfers shall be free of charge. However, actual out of pocket expenses shall be recovered.

d) Collection Charges: - All Cheques / drafts etc. shall be collected free of charge.

e) All negotiation of cheques / drafts up to Rs.5000/- shall be negotiated at par without levying collection charges regardless of Bank on which the cheque is drawn for credit.

Besides above, no service charges be levied to the existing Staff and Ex-Staff members of Punjab and Sind Bank in respect of all other service charges except locker rent and out of pocket expenses on actual usage basis where ever chargeable.

 

[8.2] CONCESSION TO PENSIONERS: -


No Service Charge is to be levied to pensioners on collection / discount of pension bills / cheques of Central / State Government and Armed Forces.


[8.3] CONCESSION TO FREEDOM FIGHTERS: -


No service charges are to be levied on collection / discounting of pension bills / pension cheques of freedom fighters.

 

[8.4] CONCESSION TO DEFENCE - PERSONNELS: -


In the account of defense personnel in active service as well as ex - servicemen, collection of outstation cheques and issuance of DD/MT/TT/EFT etc. shall be free of charge, subject to collection of out of pocket expenses.

 

[8.5] CONCESSION TO RELIGIOUS, WELFARE SERVICE, CHARITABLE INSTITUTIONS, BLIND, PHYSICALY HANDICAPPED, DISABLED INDIVIDUAL AND INSTITUTIONS SET UP FOR THEIR BENEFIT: -


The facility of collection of upcountry instruments at par, payment of DD/MT/TT to their own benefit at par are permitted provided these institutions are exempted from payment of Income Tax Act and copy of Certificate is obtained by branch.

 

[8.6] ACCOUNT OF GOVERNMENT DEPARTMENT / MINISTRIES:


Cheques issued by Government Department representing subsidies under IRDP and other special program shall be collected at par.

 

[8.7] CO - OPERATIVE BANKS, LAND DEVELOPMENT BANKS, REGIONAL RURAL BANKS, SERVICE CO-OPERATIVE, DISTRICT RURAL DEVELOPMENT AGENCY ETC: -


Concession of 50 % of service charges shall be extended to Co-operative Banks for issuance of DD/RTGS/NEFT, which maintain their account with the Bank. The Urban Co-operative Banks shall give an undertaking at their Head Office level that they shall levy the charges of Public Sector Banks to Customers.

 

[8.8] BANK UNDER AGENCY ARRANGEMENTS: -


Service Charges are as per agency arrangement to be levied provided benefit is not passed on to customers.

 

[8.9] CONCESSION TO EDUCATIONAL INSTITUTIONS: -


Salary bills of teachers employed in Government run schools may be done at par and discounting free of charge also for sum up to Rs.5000/- per individual in case the employee’s salary accounts are maintained in our Bank


[8.10] CONCESSION TO REGIONAL RURAL BANKS: -


No Collection charges are to be levied by Bank for collection of cheques / draft tendered by RRB irrespective of whether RRB is sponsored by the Bank or not.

 

[8.11] PAYMENT TO SUPPLIERS WHILE DISBURSING LOAN UNDER GOVERNMENT SPONSORED SCHEMES: -


No charges are to be levied for issue of DD for above scheme.

 

[8.12] CONCESSION IN REMITTACE / COLLECTION: -


A) No collection charges to be levied for collection of local Cheques / Drafts.

B) No remittance / collection charges for transfer of funds to Prime Minister / Chief Minister Relief Fund are to be levied.

C) Dividend Warrant and Gift Cheques up to Rs.100/- to be collected at par subject to collection of out of pocket expenses.

D) No Service Charge is to be levied on Rupee Draft issued by Correspondent Bank and Exchange Companies favoring NRI Customers provided Rupee Draft favoring NRI customer is issued by branches of same Bank abroad or Correspondents / Foreign Officers of any Foreign / Indian Banks or ECS maintaining accounts with this bank or any other bank. Draft should be payable through rupee accounts maintained at branches in India nominated by the Banks.

 

[8.13] REMITTANCE UNDER DEFFERED PAYMENT GUARANTEE / BILLS CO ACCEPTED: -


No charges are to be levied for above remittance.


[8.14] CONCESSIONS TO BE GRANTED BY ZONAL MANAGER'S: -


The Zonal Managers are empowered to grant concessions up to 100% in all types of service charges to customers provided that profitability of the Bank is not affected. For this proper Cost Benefit analysis be carried out and reasoned order be passed by the concerned Zonal Manager.
In case of chronic Locker Rent Arrears A/C Zonal Manager may waive the charges which are not recoverable.

Note: As per P&D letter dated 01.09.2006 the powers of allowing waiver are only in case of recovery of arrears of locker rent and no concession is permissible in respect of rate of locker rent at the time of allotment or subsequently.


[8.15] Concession available for transfer of proceeds of FDR shall also be available on transfer of proceeds of Saving Bank Accounts.


[8.16] Sharing of service charges with other Banks


When outstation cheque / bills sent or received for collection, where we do not have our branch / other bank does not have their branch, then collection charges are to be shared with other bank in the ratio of 50:50 and & Out of pocket expenses be charged on actual basis  from the depositor of the instrument as per existing practice.

 

[9.0] TRANSFER OF FUNDS - Deposit Accounts: -


(i) The collecting Bank is not to levy any service charges on transfer of proceeds of FDR on maturity as well as interest. However, remitting Bank shall levy usual service charges applicable to remittances. In case of local remittances, the service charges as applicable to Demand Draft be levied.

(ii) No service charges be levied on cheques issued as per court order for placing the amount in terms deposit

 

[10] SMS alerts charges :


SMS alerts charges are levied on all customers on actual usage basis for SMS alerts - Rs. 15/- +Service Charges (Per Quarter).

Customers/transaction exempted from charges

 

1.Staff Members /Ex-staff members ,Senior citizen, Small Saving a/c holder, Saral Savings Accounts (No Frill A/c) / Basic Saving Bank Account holders ,and Financial Inclusion Accounts, Recurring Deposit/Fixed Deposit A/c’s etc.

 

2. ATM/Debit/Credit Card transaction alerts, Net –Banking transaction alerts as per regulatory guidelines.

 

 



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