national developmeny banl plc developmeny banl plc islamic banking tariff booklet ... 1.3 cheque...

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NATIONAL DEVELOPMENY BANL PLC

ISLAMIC BANKING TARIFF BOOKLET

Version 02 – November 2014

Islamic Banking Unit

THE RATES AND CHARGES CONTAINED HEREIN ARE SUBJECT TO CHANGE

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Contents

General Information ........................................................................................................................... 4

1 CURRENT ACCOUNTS (RETAIL /SME / CORPORATE) ........................................................ 5

1.1 Account Opening - Initial Deposit ............................................................................................... 5

1.2 Charges for Current accounts closed anytime ............................................................................. 5

1.3 Cheque Books .............................................................................................................................. 5

1.4 STOP PAYMENTS - Current A/c ............................................................................................... 5

1.5 CHEQUES MARKED FOR PAYMENT .................................................................................... 5

1.6 CHEQUE RETURNS .................................................................................................................. 5

1.6.1 Inward cheque returns ............................................................................................................... 5

1.6.2 Foreign Currency Draft / Cheques Returns .............................................................................. 6

1.6.3 Image of a paid cheque to be given at customer’s request ....................................................... 6

2. REMITTANCES ........................................................................................................................... 6

2.1Inward Remittances ...................................................................................................................... 6

2.1.1 Remittance in Foreign Currency (FCY) Credited to LKR /FCY accounts ............................... 6

2.1.2 Drafts and Cheques Sent on Collection (BLOM, etc) .............................................................. 6

2.1.3 Local Charges for Drafts sent on collection ............................................................................. 6

2.2Outward Remittances .................................................................................................................... 6

2.2.1 Drafts ........................................................................................................................................ 6

2.2.2 Pay Orders ................................................................................................................................. 6

2.2.3 Outward Telegraphic Transfers (OTT) ..................................................................................... 7

2.2.4 Transmission cost per message (SWIFT cost) .......................................................................... 7

2.2.5 Foreign Currency Notes commission (For travel) Min. Issuance ............................................. 7

3. ADDITIONAL SERVICES ........................................................................................................... 7

3.1 Standing Orders (SO) ................................................................................................................... 7

3.2 Issuance of Withholding Tax Certificates on Fixed Deposits Savings/Call Accounts – Per

Certificate ........................................................................................................................................... 8

3.3 Charges on Savings Accounts ...................................................................................................... 8

3.4 Pay Order Postage Charges .......................................................................................................... 8

3.5 Funds Transfers (manual) ............................................................................................................ 8

3.6 Sweep-In/ Out Charges Set up charges ........................................................................................ 8

3.7 Utility Bill Payments ................................................................................................................... 8

3.8 Additional Copies of Statements/ Balance Confirmations/ Other Documents ............................ 8

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3.9 Hold Mail (Retain Statement) ...................................................................................................... 9

3.10 Safe Deposit Lockers ................................................................................................................. 9

3.11 Special cash orders (Direct Deliveries) ..................................................................................... 9

4. IMPORTS .................................................................................................................................... 10

4.1 Issuance of Documentary credits denominated in FCY ............................................................ 10

4.1.1 Negotiation .............................................................................................................................. 10

4.2 Documentary Collections .......................................................................................................... 10

4.3 Additional Services- Imports ..................................................................................................... 10

4.3.1 Commission on Shipping Guarantees ..................................................................................... 11

4.3.3 SWIFT CHARGES ................................................................................................................. 11

4.3.4 Transfer of Documents to another Local Bank ....................................................................... 11

5. EXPORTS .................................................................................................................................... 11

5.1 Documentary Credits (Including Stand by LCs) ....................................................................... 11

5.1.1 Negotiation .............................................................................................................................. 12

5.2 Documentary Collections .......................................................................................................... 12

5.3 Additional Services – Exports ................................................................................................... 12

6. BANK GUARANTEES .............................................................................................................. 12

6.1 Letters of Guarantees, Bonds ..................................................................................................... 12

6.2 Guarantees against Counter Guarantees .................................................................................... 13

6.3 Issuance of Guarantees .............................................................................................................. 13

7. PROCESSING/EARLY SETTLEMENT FEESLOANS/OVERDRAFT/LC’s/GURANTEES

FOR RETAIL & SME ..................................................................................................................... 13

8. DIMINISHING MUSHARAKAH .............................................................................................. 13

8.1 Processing Fee - Diminishing Musharakah - Vehicle Mortgage Backed .................................. 13

8.2 Profit rate applicable for early buyout of Units ......................................................................... 13

8.3 Processing Fee - Diminishing Musharakah - Housing Mortgage Backed ................................. 13

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General Information

Any charges and or levies included in an offer letter are outside the purview of this tariff

Deviations

Approvals for any deviations to the below tariff of charges should be obtained from the relevant

AVP or VP based on their delegated authority

� Import & Export Documents

Documentary Credit will be handled in terms of Uniform Customs and Practice

for Documentary Credit published by International Chamber of Commerce

current publication.

Documentary collections will be handled in terms of Uniform rules for

collections current publication.

� Statutory Levies

Statutory levies such as Government taxes will be charge where applicable

� Miscellaneous Charges

Additional expenses relating to transactions initiated at the request of the customer such

as postage, courier, telex, SWIFT, incidental expenses, other bank handling charges, etc

will be charged to the customer’s account.

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TARIFF

No Tariff Type Min Values Max Values

1

1 CURRENT ACCOUNTS (RETAIL /SME / CORPORATE)

1.1 Account Opening - Initial Deposit

Corporate Account LKR 50,000

Personal Account LKR 25,000

1.2 Charges for Current accounts closed anytime

Voluntary closure LKR 1000

Bad conduct LKR 2000

1.3 Cheque Books

Cost of Cheque Books (25, 50 & 10 leaves) LKR 20 per leaf

Continuous leaves Cost + LKR 20

per leaf

Cost of Counter Cheque Leaf (Withdrawal Slip) LKR 250 per leaf

1.4 STOP PAYMENTS - Current A/c

Due to Lack of Funds LKR 2,000 per

chq

Sufficient Funds LKR 500 per

chq

Loss of entire cheque book - 10 leaves LKR 5,000

Loss of 25 leaves cheque book LKR 7,500

Loss of 50 leaves cheque book LKR 10,000

Stop payment Cancellation Free

Renewal of stop payment LKR 500

Stop payment of Foreign Drafts

As per the

drawee bank

charges + LKR

1,800 or USD 15

1.5 CHEQUES MARKED FOR PAYMENT

Sent by other Banks to NDB - No minimum value LKR 3,000

Sent by NDB to other Banks

(Minimum amount of a cheque marked for payment

LKR500,000/-)

LKR 5,000

1.6 CHEQUE RETURNS

1.6.1 Inward cheque returns

Effects Not Realized (ENR) LKR 500

Refer to Drawer (RD) LKR 2,000

Outward clearing cheque return charges LKR 150 per

cheque

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1.6.2 Foreign Currency Draft / Cheques Returns USD 5 +

corresponding

bank charges

1.6.3 Image of a paid cheque to be given at

customer’s request

Within 6 months LKR 200

More than 6 months LKR 550

2

2. REMITTANCES

2.1 Inward Remittances

2.1.1 Remittance in Foreign Currency (FCY)

Credited to LKR /FCY accounts

Corporate & SME Customers

* LKR LKR 600 LKR 3,000

* FCY USD 5 USD 25

Retail Customers

* LKR & FCY Free

2.1.2 Drafts and Cheques Sent on Collection

(BLOM, etc)

Upto LKR 20,000 LKR 250 Flat

LKR 20,001 to LKR 100,000 LKR 400 Flat

Over LKR 100,000 - 0.125% LKR 600 LKR 3,000

2.1.3 Local Charges for Drafts sent on collection

USD to LKR LKR 500

USD to USD USD 5

2.2Outward Remittances

2.2.1 Drafts Flat

Customers LKR 750

Non customers LKR 1,500

FCY Accounts USD 10

Cancellation / Re-issuance of drafts

Reissuance cost

of LKR 750

2.2.2 Pay Orders

Commission - customers LKR 550

Commission - non-customers LKR 1,000

Cancellation or Lost - Stop Payment (Irrespective of

Customer) LKR 550

Outward SLIPS LKR 200

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Funds Transfer - Salaries - Manual

Retail / SME –

LKR 100.

Corporate

customers to be

charged LKR

150 per

transaction.

Funds Transfer – File Uploads/ Diskette

LKR 30 per

transaction

2.2.3 Outward Telegraphic Transfers (OTT)

Customers 0.125% LKR 2,000 LKR 5,000

FCY Accounts 0.125% USD 20 USD 50

RTGS LKR 1,000

TT payments outside Sri Lanka FCY or LKR accounts –

(commission +1 SWIFT message)

0.125%+ USD

12

TT payments within Sri Lanka in FCY or LKR accounts –

(commission + 2 SWIFT messages)

0.125% + USD

24

2.2.4 Transmission cost per message (SWIFT cost)

Brief SWIFT sent on behalf of client - Miscellaneous

Investigation

LKR account LKR 1,000

FCY account USD 10

Brief SWIFT sent on behalf of client - Non receipt of funds

(ITT

& OTT)

LKR account LKR 1,000

FCY account USD 10

2.2.5 Foreign Currency Notes commission (For

travel) Min. Issuance

Customer 1%

Non customer 1.50%

Cash masters(payments requested by shipping agencies to

pay

wages for the marine crew) 1.5%

USD 10

Encashment Free

3

3. ADDITIONAL SERVICES

3.1 Standing Orders (SO)

Set up fee Free

Amendments LKR 100

Cancellation LKR 100

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Transfer to own accounts within the Bank Free

Transfer to other accounts within the Bank LKR 25

Payment by Pay order LKR 300

Payment by SLIPS LKR 200

Additional charge for non-payment due to lack of funds LKR 300

Standing orders sent via outward telegraphic transfer or

draft, the standard telegraphic transfer, or date rate will be

applied.

3.2 Issuance of Withholding Tax Certificates on

Fixed Deposits Savings/Call Accounts – Per

Certificate

Initial Certificate Free

Within 12 months LKR 250

More than 12 months LKR 1000

3.3 Charges on Savings Accounts

Charges for Savings account closure LKR 250

3.4 Pay Order Postage Charges

Postage - If mailed by the Bank to customers LKR 75

Postage - If mailed by the Bank to non - customers LKR 150

If additional documents are enclosed

3.5 Funds Transfers (manual)

Transfer to own accounts within the Bank - Corporate LKR 100

Transfer to other accounts within the Bank -Corporate

/SME LKR 150

3.6 Sweep-In/ Out Charges Set up charges

Corporate & SME LKR 1,000

Retail LKR 500

3.7 Utility Bill Payments

Customer Free

Non-Customer (Only cash) LKR 25

3.8 Additional Copies of Statements/ Balance

Confirmations/ Other Documents

Daily Statements - per month LKR 2000

Weekly Statements - per month LKR 1000

Within 6 months - per month

Individual - LKR 300

Corporate - LKR 1000

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Over 06 Months - per month

Individual - LKR 500

Corporate - LKR 2000

Balance Confirmation Certificate (Embassies, Tax etc.)

LKR 550 at

branch & LKR

300 centrally

CRIB report generated for facilities - per report

Individual LKR 250

Corporate LKR 700

Issuance of copies of vouchers, cheques and other

documents as

per customer request - per copy LKR 500

3.9 Hold Mail (Retain Statement)

Daily - per month LKR 2000

Weekly - per month LKR 1000

Monthly - per month LKR 750

3.10 Safe Deposit Lockers

For any deviations to the collateral only , please obtain

approval from line AVP

Minimum Amount to be held in -

Small (p.a)

LKR 5,000 +

VAT

Fixed Deposit LKR. 1000000

Medium(p.a)

LKR 7,500 +

VAT

Savings Accounts LKR 250000

Large (p.a)

LKR 10,000 +

VAT

Lock replacement to be referred to Admin Department

Cost of locker +

Bank charges of

LKR 2,000

3.11 Special cash orders (Direct Deliveries)

Below 500k

TLS charge +

Bank Charge

LKR 2000

Above 500k

TLS charge +

0.5% of the cash

order value

Max of LKR

15,000

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4

4. IMPORTS

4.1 Issuance of Documentary credits denominated

in FCY

Commission charged per quarter

LKR Customers 0.25% LKR 3000

FCY customers 0.25% USD 35

Amendment to documentary credits

Except enhancements of value or extension to credit Flat

LKR Customers LKR 1800

FCY Customers USD 20

Import Letter of Credit cancellation fee - LKR LKR 2,000

- FCY USD 20

4.1.1 Negotiation

LC processing fee LKR 1500

LC renewal fee LKR 750

Sight Min.

FCY - Commission (flat) 0.25% USD 25

LKR - Commission of invoice value 0.10% LKR 1,000

Commission in lieu of exchange 0.25% USD 25

Acceptance or Deferred Payment Min.

Commission per quarter LKR 2,000/-

LKR 0.25% USD 35

Discrepancy Fee

Fee to be levied on each set of discrepant documents

Notwithstanding any instructions to the contrary, this

charge will be for the Beneficiary's account. In addition the

cost of remitting payment will be levied

Cost of

remittance at

USD 35 or

equivalent

per message

4.2 Documentary Collections

Commission on face value of Bill of Exchange / Invoice -

flat Min.

LKR

A/C 0.25% 2,750/- +VAT

FCY

A/C 0.25% USD 35

Commission in lieu of exchange USD 25

4.3 Additional Services- Imports

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4.3.1 Commission on Shipping Guarantees

Commission - of the invoice value for the first month

LKR 0.5% p.m LKR 3,000/-

FCY

0.5% per month USD 30

It is the responsibility of the importer to return the

guarantee to the

Bank for cancellation under normal circumstances

commission will

continue to be charged until the guarantee is returned to the

Bank

4.3.2 Commission for Endorsing Advance Documents

Commission Flat

LKR 3,000/-

+VAT or USD

35

4.3.3 SWIFT CHARGES LKR FCY

Full Swift LKR 2,250/- USD 50

Brief Swift LKR 1,000/- USD 15

4.3.4 Transfer of Documents to another Local Bank LKR 1,600/-

5

5. EXPORTS

5.1 Documentary Credits (Including Stand by LCs)

Advising & pre advising charges

Customer LKR 2,000/- USD 20

Non-customer LKR 3,000/- USD30

Advising (includes standby LCS)


Non- customer LKR 3,000/- USD 30

Amendment


Non Customer LKR 2,500/- USD 25

Transfer of Documentary Credit Per transfer FCY &

FCBU LKR 6,000/- USD 75

Amendment - Per amendment DBU LKR 3,000/- USD 35

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5.1.1 Negotiation Min

Commission - 0.25% LKR & FCY LKR 2,500/- USD 25

Funds credited in LKR for Customer LKR 2,500/- USD 25

If commission in lieu of exchange is applicable,

documentary Min

commission 0.25%

Discrepancy Fee Flat


5.2 Documentary Collections Min Max

Commission - 0.25% LKR LKR 3,000/- LKR 15,000/-

FCY USD 35 USD 150

If commission in lieu of exchange is applicable,

documentary USD 25

commission will be USD 25

5.3 Additional Services – Exports

Duty Rebates

Handling charge per application LKR 1000

Confirmation of Export Proceeds per certification LKR 2000

First 5 transactions LKR 2000

Additional transactions (per transaction) LKR 500

Courier Charges Depends on weight and destination +

VAT

For packages less than 500 gms

LKR 3000 +

VAT USD 28

Postage - Depends on weight ( Local Delivery) + VAT LKR 250 + VAT

Documentary Collections/LC Bills LKR 250

Clean Collections

LKR 250 or USD

5

SWIFT Charges

Per message

LKR 1500 +

VAT USD 15

6

6. BANK GUARANTEES

6.1 Letters of Guarantees, Bonds

Fee ( all other facilities other than cash) 2% p.a.+ VAT

LKR 3500 +

VAT or USD 35

Fee (100% cash collateral) 1% p.a.+ VAT

LKR 3500 +

VAT or USD 35

Fee ( 100% cash margin account) 0.5% p.a + VAT

LKR 3500 +

VAT or USD 35

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Amendment

LKR 1500 or

USD 25

Other than extensions and enhancements

LKR 3500 +

VAT or USD 35

6.2 Guarantees against Counter Guarantees

Requested by overseas correspondents 2% p.a. USD 100

6.3 Issuance of Guarantees

At the request of other banks 2% p.a.

LKR 3000 +

VAT or USD 35

As per the arrangements with the issuing bank format

Charges LKR 2000 USD 20

7

7. PROCESSING/EARLY SETTLEMENT

FEESLOANS/OVERDRAFT/LC’s/GURANTEES

FOR RETAIL & SME

Guarantee processing fee LKR 1500

Guarantee renewal fee LKR 750

8

8. DIMINISHING MUSHARAKAH

8.1 Processing Fee - Diminishing Musharakah -

Vehicle Mortgage Backed

Facility Value Standard Mortgaged back Fast track

LKR 100,000 – LKR 999,999.99 LKR 5000 LKR 7500 LKR 7500

LKR 1,000,000 – LKR 1,999,999.99 LKR 7500 LKR 10000 LKR 12500

> LKR 2m LKR 9000 LKR 11500 LKR 12500

8.2 Profit rate applicable for early buyout of Units

4% of Capital Payment

2% of Capital Payment for Doctors

8.3 Processing Fee - Diminishing Musharakah -

Housing Mortgage Backed

Processing Fee

2% and

maximum LKR

60,000/-

Profit rate applicable for early buyout of Units - Housing

Mortgage

4% capital

payment

END