Minimum Balance to be maintained

• Current Account

USD 5,000

No QAB & AMC Charges applicable on current account linked with credit facility availed from DIFC

Annual Maintenance Charges

• Current Account

USD 50 (per qtr)

No QAB & AMC Charges applicable on current account linked with credit facility availed from DIFC

Minimum balance charges per month if balance falls below above requirement:

• Current Account

USD 100 p.m.

Account Statement

Once in a month Free

Duplicate statement (Per statement) – USD 10

Certificate of Balance /Interest (for Corporate customers)

USD 25

Certificate of Balance Confirmation to Auditors (for Corporate customers)

USD 25

Investigation of old entries:

• More than 3 months but less than 1 year
• 1 year and above

USD 50 per enquiry

USD 100 per enquiry

Account Closure: Current Account (within twelve months from the date of opening)

USD 100

Revival of dormant account

USD 50

Half Yearly charges for dormant A/c

Nil

TT on foreign branches/correspondents in foreign currency

USD 25

Outward Remittance

Inward Remittance

USD 25

USD 10

Outward Bills

• Documentary/ Clean

1/8% commission, minimum USD 25 + Postage/Courier Charges*

*Postage/courier charges -USD 25

Inward Bills:

• Documentary/ Clean

1/8% commission, minimum USD 25 + Postage/Courier Charges*

Custodian charges USD 3 per day beyond 60 days or due date of bill whichever is later

*Postage/courier charges -USD 25

LC establishment charges

• If cash margin is not 100% or lien margin:
  1. 0.125% per month, minimum 2 months or part thereof Minimum 50 USD
• If cash margin is 100% :
  1. 25% of {commitment charges 0.125% per month, minimum 2 months or part thereof. Minimum 50 USD}
• Usance charges of 0.125% per month

LC Reinstatement

Reinstatement charge

• If cash margin is not 100% or lien margin:
  1. 0.125% per month, minimum 2 months or part thereof. Minimum USD 50
• If cash margin is 100%:
  1. 25% of {{Commitment charge 0.125% per month, minimum 2 months or part thereof Minimum USD 50 }}
• Usance charges of 0.125% per month

LC Amendment

• Amendment charge-
  1. For no change in amount or validity:
  2.  USD 50
  3. for change in amount, validity or both-
• If cash margin is not 100% or lien margin-
  1. 0.125% per month for minimum 2 months or part there of minimum 50 USD
  2. If cash margin is 100%
  3. For amended amount 25% of {commitment charges 0.125% per month for minimum 2 months or part there of minimum 50 USD}
• Usance charges of 0.125% per month

Swift charges - Documentary Credits

USD 100

Acceptance under DA LCs

Min. Charges for acceptance

Of bills under LC

1/8% p.m. from date of expiry of LC upto maturity date of accepted Bill. These charges are to be recovered at the time of acceptance (min. Charges -USD 50).

In all cases where payment is made after the maturity date of accepted bill, commission @ 1/8% p.m. from the date of maturity till date of actual payment should also be recovered

Revolving LC

3/8% commission on original amount + 1/8% commission for each reinstatement. Min USD 50

Unutilized /Cancelled LC whether full or in part

USD 15 + courier/SWIFT

Courier- USD25

SWIFT - USD25

Discrepancy fee under import LC

USD 50 (per document)

LC Advising, Amendment advising and document handling charges under LC Discounting

USD 300

Confirmation charges for each quarter or part thereof

0.25% Min. USD 100

Negotiation of bills under Export Letter of credit

1/8% Min. USD 100

Transfer of Export LC

USD 100

Performance Guarantees / Bid Bond Guarantees/ Financial Guarantees/Advance payment/ Retention Money Guarantees/Stand by Letters of credit (Swift charges to be charged separately).

1 % P.A. on secured potion & 2.50% P.A. on unsecured portion with min. of USD 150 or 3 months commission, whichever is higher.

Financial Guarantees/Advance payment/ Retention Money Guarantees/Stand by Letters of credit

1 % P.A. on secured potion & 2.50% P.A. on unsecured portion with min. of USD 150 or 3 months commission, whichever is higher.

Extension of guarantee period/ Increase in guarantee amount

1 % P.A. on secured potion & 2.50% P.A. on unsecured portion with min. of USD 150 or 3 months commission, whichever is higher.

Secured Loans/Overdrafts (fresh)

• Against Local Deposits

USD 100

Review of fully secured loans/Overdrafts

No charges

Review- Term loans

0.10 % of outstanding Term Loan amount, Min USD 1000, Max USD 15000

Ad-hoc limits (including reschedulement)

0.50% of adhoc amount sanctioned (min USD 500 per occasion)

TOD/ Excess

TOD- USD 50 for a period not exceeding 14 days. If TOD persists beyond 14 days, arrangement fee cum processing charges of USD 500 per occasion (to be waived for TODs granted on fully secured basis by way of lien on deposits).

Excess: USD 500 per occasion (to be waived for excess granted on fully secured basis by way of lien on deposits).

Reconstitution of firms

USD 150 + advocate’s charges, if any

Interest on temporary overdrafts

2% over applicable rate/ base rate

Documentation charges

USD 500 + advocate’s charges, if any

Modification in Terms and conditions

USD 100

Status Enquiry/banks Report/Any Confidential report

USD 50

Solvency certificate:

USD 250