South Indian Bank Ltd. Head Office T.B Road, Mission Quarters, Thrissur 680 001,Kerala, India
Service Charges
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NOTICE
As per guidelines of RBI, following stipulations are applicable to ATM transactions in India wef. 01st May, 2025
The number of free transactions (maximum five per month) permitted through other bank ATMs to Savings Bank Account holders shall be inclusive of all types of transactions i.e. both financial and non-financial. For the customers of other banks, maximum cash withdrawal would be Rs.10,000/- per transaction. Any transactions through ATMs of other banks for more than five times in a month may attract levy of service charges. (Rs.23+ service tax for cash withdrawal & Rs.13+ service tax /- for other transactions above the free limits). The facility of free transactions at other bank ATMs is available only to the Savings Bank Account holders.
We shall make all efforts to redress your complaints on failed ATM transactions within a maximum period of 5 working days from the date of receipt of your complaint. For any delay in resolving the complaint, bank shall compensate with an amount of Rs. 100/- per day for the delayed period. However, no compensation shall be provided if the claim is lodged after 30 days from the date of failed ATM transaction.
Charges for Debit card Usage at other Bank ATMs revised with effect from 01/05/2025 is as follows.
Retail Loan
Loan Processing Charges
For Loans up to and including Rs. 0.25lac.
For Loans above Rs. 0.25lac.
1.00 % of loan amount
Rates applicable for Pre - payment / Pre - closure of loans and other credit facilities
Loans/Credit Facilities with Fixed Rate of Interest
Pre - payment Penalty/ Pre - Closure Charges
Term Loans and other credit facilities (OD/CC/PC/BP/DC/FBP) of MSEs up to Rs. 50.00 lacs
Term loans to non-individuals (other than MSE loans up to Rs.50.00 lacs)
Payment / Closure by own funds or Takeover by other Banks/FIs
Term loans to individuals
Term Loans and other credit facilities (OD/CC/PC/BP/DC/FBP) of MSEs above Rs. 50.00 lacs
Loans/Credit Facilities with Floating Rate of Interest
Term Loans and other credit facilities (OD/CC/PC/BP/DC/FBP) of MSEs
Term loans to individuals for purposes other than business
Term loans to individuals for business purposes
Term loans to non-individuals other than MSEs
Operative Limits (OD/CC/PC/BP/DC/FBP) other than MSEs
Up to Rs 1.00 lac : Rs.500.00
Above Rs 1.00 lac upto Rs 10.00 lac : Rs 1000.00
Above Rs 10.00 lac upto Rs 25.00 lac : Rs 2000.00
Above Rs 25.00 lac upto Rs 50.00 lac : Rs 3000.00
Above Rs 50.00 lac upto Rs 100.00 lac: Rs.4000.00
Above Rs 100.00 lac upto Rs 500.00 lac: Rs.5000.00
Above Rs 500.00 lac: Rs.10000.00
Charges for changing from fixed to floating rates of interest
Option once exercised cannot be changed
Charges for changing from float to fixed rates of interest
Penal charges are applicable for non-compliances of material terms and conditions in the loan contract.
Definition of Financial Default and Non-Financial Default:
(Applicable for all credit facilities, irrespective of category)*
SCF – 4% p.a. on the defaulted amount for the defaulted period during grace period & 6% thereafter.
SIB Builder plus- 6% p.a. on the defaulted amount for the defaulted period
Non-Payment of claim period commission for bank guarantees within 15 days of BG expiry - Prevailing 1 Year MCLR + 2% p.a.
Non compliances on material terms and conditions detailed below (To be captured account wise)
4% p.a. on outstanding balance in the account for the defaulted period with a cap of 4%.
*Penal charges are not applicable for Priority Sector advances up to Rs. 50,000.00.
For the following facilities, the penal interest @ 2% will be applicable and are exempted from the purview of revised guideline on Levying Penal charges.
a. Credit cards
b. External Commercial Borrowings
c. Trade Credits & Structured Obligations (as per Master Direction - External Commercial Borrowings, Trade Credits and Structured Obligations)
d. Rupee/foreign currency export credit
e. Other foreign currency loans
Material Terms and Conditions of Loan Contract:
Renewal of credit limit within stipulated time frame
Submission of stock statement (Applicable only for working capital accounts where DP to be derived in CBS) within stipulated time frame
Satisfaction of charges registered by other banks (CERSAI/ROC etc.) within stipulated time frame
Obtention of Technical vetting and /or Expert Valuation Report/Branch confirmation etc., for securities within stipulated time frame
Rectification of primary/collateral security related issues within stipulated time frame
Completion of security perfection(EM creation/CERSAI registration /LSR compliance etc.,) within stipulated time frame
Obtention of external rating for the entity within stipulated time frame
Rectification of credit audit/inspection comments/concurrent audit comment/previous sanction comment (Specify the applicable ones only) within stipulated time frame
Correction of wrong reporting in CICs/CRILC/RBI Defaulter list/SAL/ASL etc., within stipulated time frame
Any breach in financial covenant(Financial covenants to be listed specifically)
Conducting Stock audit/Legal Audit within stipulated time frame & Any shortfall in DP on stock audit
Obtention of local body license/ other licenses/permissions/approvals required for running business within stipulated time frame
Submission of AFS, ITR, Tax Audit reports, GSTR Validation report, etc., within stipulated time frame
Obtention/submission of Work Orders, Department certificate, other documents stipulated for OD Contractor limit-applicable only for OD contractors within stipulated time frame
Change in management / unit location / activity can be done with intimation to the Bank
Multiple banking facilities to be availed with banker’s consent only
Registration of charges with ROC to be done within stipulated time frame
Obtention of certificates(CA Certificate/engineer certificate etc.,)/Documents(closure of accounts with other banks etc.,) from borrower within stipulated time frame
Events which increases the credit risk other than those detailed above
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