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Service Charges

Service Charges, Fees and Commissions

The Charges are w.e.f 01/02/2019

A - Savings Account

Sl Particular of service (s) Periodicity Amount (LKR)[accounts maintained in local currency] Amount (USD)[accounts maintained in local currency]
1.1 Issue of new/ continuation passbook - Free Free
1.2 Issue of duplicate passbook Per instance 500 5
1.3 Issue of printed statement (s)      
  1.3.1 First 6 months Per instance 250 3
  1.3.2 Beyond 6 months Per instance 750 5
1.4 Non-maintenance of minimum balance [monthly basis] Monthly 100 5
1.5 Closure of account up to 12 months Per instance 500 5
1.6 Closure of account after 12 months Per instance 250 3
1.7 Inoperative Account Maintenance charges Yearly 1000 10

B- Current Account

Sl   Particular of service (s) Periodicity Amount (LKR) Amount (USD)
2.1   Issue of monthly statement      
  2.1.1 First statement - Nil Nil
  2.1.2 Duplicate statement for the month Per instance 250 3
2.2   Non-maintenance of minimum balance (per month)      
  2.2.1 Business account [monthly basis] Monthly 250 5
  2.2.2 Personal account [monthly basis] Monthly 100 3
2.3   Closure of current account      
  2.3.1 For bad conduct Per instance 1,000 10
  2.3.2 On customer’s request Per instance 500 5
  2.3.3 Charges for non-return of undelivered cheques (per leaf) Per instance 50 1
2.4   Cheque Book issue charges (per leaf) Per instance 10 NA
2.5   Handling charges for inward Cheque Return Per instance 1,000 NA
2.6   Outward Cheque Return Charges     NA
  2.6.1 Refer to Drawer Per instance 2,000  
  2.6.2 Effects not realised Per instance 500  
  2.6.3 Technical reasons Per instance Nil  
  2.6.4 Postage charges Per instance Actual  
2.7   Stop Payment Instructions     NA
  2.7.1 Per cheque Leaf Per instance 1,000 Maximum 2,500  
2.8   Account Maintenance charges (per annum)      
  2.8.1 Retail [annual basis] Yearly 250 5
  2.8.2 Corporate [annual basis] Yearly 2000 15
2.9   Inoperative Account Maintenance charges Yearly 2000 15

C - Other Matters

Sl   Particular of service (s) Periodicity Amount (LKR) Amount (LKR)
3.1   Balance confirmation      
  3.1.1 On Bank’s own format Per instance 250 5
  3.1.2 On specific format requested by customer Per instance 3,000 20
3.2   Inquiries on documents/ vouchers (SB/ CA)      
  3.2.1 Less than 1 year period Per instance 500 5
  3.2.2 1 year and more Per instance 1,000 10
3.3   Pay Orders/ Demand Drafts     N/A
  3.3.1 Issuance      
    a- LKR 1 to LKR 100,000 Per instance 250  
    b- LKR 100,001 to LKR 1,000,000 Per instance 750  
    c- More than LKR 1,000,000 Per instance 1,000  
  3.3.2 Cancellation Per instance 150  
  3.3.3 Revalidation Per instance 150  
  3.3.4 Duplicate Pay order Per instance Issue charges  
3.4   Standing Instructions      
  3.4.1 Registration of Standing Instruction Per instance 250 10
  3.4.2 Execution of SI      
    a- Within the Bank Per instance Free Free
    b- Outside the Bank Per instance 100 5
  3.4.3 Cancellation of Standing Instructions   100 5
  3.4.4 Amendments to Standing Instructions   100 5
3.5   SMS alert - Free Free
3.6   ATM charges      
  3.6.1 Issue of new/ replacement ATM card Per instance 200 5
  3.6.2 Issue of New/ Replacement VISA EMV Card Per instance 300 10
  3.6.3 Issue of Duplicate ATM card Per instance 1000 15
  3.6.4 Regeneration of PIN1 Per instance 500 5
3.7   Internet Banking   Free Free
3.8   Inter-Bank transfers     N/A
  3.8.1 SLIPS transfer Per instance 50  
  3.8.2 RTGS transfer Per instance 1,000  
  3.8.3 CEFT transfer      
    Over the Counter Per instance 100  
    Internet Banking Per instance 50  
3.9   Signature/ Document Attestation charges      
  3.9.1 Customers   Free Free
  3.9.2 Non-Customers (per instance) Per instance 500 10
3.10   ATM Transactions at another Bank ATM      
  3.10.1 Cash withdrawal Per instance 30  
  3.10.2 Balance enquiry Per instance 5  
  3.10.3 Outside Sri Lanka Per instance 200  
A - Trade & Remittances

A- Remittances

Sl   Particular of service (s) Periodicity Amount
4.1   Outward Remittances    
  4.1.1 SWIFT charges Per instance USD 10
  4.1.2 Commission Per instance USD 15
  4.1.3 CHIPS Per instance USD 5
4.2   Foreign Currency Drafts & TTs (From LKR account)
  4.2.1 Issuance (By transfer)   Commission Foreign Bank charges Swift Charges2
    a- up to USD 100 Per instance USD 03 Actual Basis USD 10
    b- above USD 100 and up to USD 500 Per instance USD 05 Actual Basis USD 10
    c- above USD 500 and up to USD 1000 Per instance USD 07 Actual Basis USD 10
    d- USD 1001 and above Per instance USD 10 Actual Basis USD 10
  4.2.2 By Cash3 Per instance USD 10 Actual Basis USD 10
  4.2.3 Issuance (By transfer)   Commission Foreign Bank charges Swift Charges
    a- up to USD 1000 Per instance USD 07 Actual Basis USD 10
    b- above USD 1000 and up to USD 10000 Per instance USD 10 Actual Basis USD 10
    c- USD 10001 and above Per instance USD 15 Actual Basis USD 10
  4.2.4 Cancellation charges Per instance 50% of the issue charges
4.3   Inward remittances  
  4.3.1 To LKR accounts Per instance Free
        Commission CHIPS
  4.3.2 To Foreign Currency Account Per instance USD 6 USD 5

B- Trade Services ( For LKR accounts )

Sl   Particular of service (s) Periodicity Amount (LKR)
5.1   Imports-Letter of Credit    
  5.1.1 Issuing commission    
    a-sight LC up to 90 days Per instance 0.35% per quarter {min. 2500}
    b-Usance LC up to 90 days Per instance 0.50% plus 0.125% per month {min. 2500}
    c-SWIFT charges Per instance 1000
  5.1.2 Amendments    
    a-within same month (30 days) Per instance 1000
    b-extension exceeding previously charged month for each additional 30 days on unutilised balance Per instance 1000
    c-SWIFT charges Per instance 1000
  5.1.3 Local LC advising charges-Beneficiary    
    a-Customer Per instance 1500
    b-Non-Customer Per instance 3000
  5.1.4 LC cancellation handling fee Per instance 1500
5.2   Import LC and collection bill    
  5.2.1 Settled in Foreign Currency Per instance 1500
  5.2.2 Commission in lieu of exchange- on bill value on account of foreign currency sourced from other Bank, etc. for settlement of import bills Per instance 0.25%
  5.2.3 Settlement of bills under foreign currency loans Per instance 0.25%
5.3   Shipping Guarantee/ Advance documents Per instance  
  5.3.1 Shipping Guarantee commission on invoice value Per instance 0.375% {min. 2500}
  5.3.2 Advance Documents-Commission Per instance 0.25%
5.4   Collection    
  5.4.1 Document against payment (D/P) Per instance 0.25% {min. 2500}
  5.4.2 Document against acknowledgement (D/A) Per instance 0.25% {min. 2500}
  5.4.3 SWIFT charges Per instance 1000
  5.4.4 Postage Per instance Actual
5.5   LC bills payment    
  5.5.1 Sight Per instance 0.25% {min. 2500}
  5.5.2 Usance Per instance 0.25% {min. 2500}
  5.5.3 SWIFT charges Per instance 1000
5.6   Bank Guarantee4    
  5.6.1 Issuing commission    
    a-Against 100% cash margin Per instance 0.375%
    b-Against a lien on interest bearing deposit Per instance 1.50%
    c-Against other securities Per instance 1.50%
    d-Against counter guarantee of SBI branches Per instance 1.50%
    e-Against counter guarantee of other bank branches Per instance 2.50%
    f- other Per instance 1.50%
    g-Minimum Per instance 5000
  5.6.2 Amendments    
    a-Extension within same quarter (Commission) Per instance As per original agreement
    b-Minimum Per instance 5000
    c-Other amendments Per instance 5000
  5.6.3 Advising guarantee issued by Foreign Bank without any responsibility to the Bank Per instance 5000

C - Trade Services (For Foreign Currency accounts)

Sl   Particular of service (s) Periodicity Amount (LKR)
6.1   Letter of Credit    
  6.1.1 Issuing commission    
    a-sight LC Per instance 0.35% per quarter of LC value up to 10 days sight only
    b-Usance LC Per instance 0.50% plus 0.125% per month
    c-SWIFT charges Per instance USD 25
  6.1.2 Amendments    
    a- commission Per instance USD 30
    b-SWIFT charges Per instance USD 25
  6.1.3 LC advising    
    a- LC advising Per instance USD 20
    b- Amendment advising Per instance USD 12
  6.1.4 LC cancellation handling fee Per instance USD 10
6.2   Import LC Bills    
  6.2.1 Bill Lodgement Per instance 0.25% of the bill value
  6.2.2 Acceptance Per instance USD 10
  6.2.3 Bill settlement    
    a-Commission Per instance USD 50
    b-SWIFT charge Per instance USD 25
    c-CHIPS Commission (only for USD bills) Per instance USD 6
    d-Foreign Bank charges (For EUR Bills) Per instance USD 5
  6.2.4 Discrepancy charges (per document) Per instance USD 100
6.3   Shipping Guarantee/ Advance Documents    
  6.3.1 a- Shipping Guarantee Commission Per instance 0.375% of full value of invoice
    b- VAT Per instance 15% of commission amount
    c-Guarantee cancellation after expiry date Per instance 0.375% p.a.
6.3   Import Collection Bills    
  6.4.1 Document against payment (D/P) Per instance 0.25% {min USD 35}
  6.4.2 Document against acceptance (D/A) Per instance 0.25% {min USD 35}
  6.4.3 SWIFT charges Per instance USD 25
6.5   Export LC/ Collection Bills    
  6.5.1 Bill commission Per instance 0.25% {min USD 25}
  6.5.2 Postage Per instance India- USD 15 Others- USD 25
  6.5.3 CHIPS Commission Per instance USD 6
  6.5.4 Interest on bills negotiation Per instance  
6.6   Outward Guarantee    
  6.6.1 Commission Per instance 1% from outward guarantee value
Advances & Allied Matters

A- For services other than sanction of credit facilities

Sl Particular of service (s) Amount
1. Interchangeability between limits 0.01% of the limit
minimum USD 100 or equivalent
maximum USD 1000 or equivalent
2. Ceding of charge on Assets 0.01% of the limit
minimum USD 100 or equivalent
maximum USD 1000 or equivalent
3. Approval of mergers & acquisitions 0.05% of the limit
minimum USD 500 or equivalent
maximum USD 5000 or equivalent
4. Rephasement of Loans/ deferment in instalments (applicable only if separate processing charges for the loan proposal is not recovered) 0.05% of the limit
minimum USD 500 or equivalent
maximum USD 5000 or equivalent
5. Documentation charges (not applicable where documents are prepared by legal counsel and/or entire cost borne by the borrower) Limit up to USD 1 mio: USD 250
Limit above USD 1 mio: USD 500
6. Mortgage (for immovable property) Per borrowing entity (not applicable where documents are prepared by legal counsel and/or entire cost borne by the borrower) 0.05% of the loan amount covered by mortgage with a minimum of USD 500 and maximum of USD 10,000
7. Inspection charges Actuals to be recovered from borrower with a minimum of USD 500 p.a.
8. Substitution of Collateral Security/ Personal Guarantee 0.02% of the limit
minimum USD 200
maximum USD 5000
9. Release of Personal Guarantee/ Collateral Security 0.02% of the limit
minimum USD 200
maximum USD 5000
10. Change in Terms and Conditions/ Change in project/ items of machinery 0.02% of the limit
minimum USD 200
maximum USD 5000
11. Service Charges for providing Credit Information Reports For individual customer: All segment USD 100
For Non-individual customer: USD 500
12. Other miscellaneous approvals for issues not covered above 0.02% of the limit
Minimum USD 200
Maximum USD 5000

In case the credit facility is under consortium/ syndication, charges as decided by the consortium/ syndication will apply.

B- Application of penal interest

Sl Particular of service (s) Amount
1. Irregularity in short term loan/ working capital loan account 2% of the irregular amount
2. Non-submission of stock statement 1% for the month the stock statement if not submitted within the stipulated period
3. Non-submission of Renewal Data, including Audited Balance Sheet For listed companies, if not submitted within 7 months- USD 200 per month
For other, if not submitted within 9 months- USD 500 per month
4. Non-compliance with financial covenants3. 1% per annum on the entire outstanding for the period of default
5. Term Loans-Non-payment of interest/ instalment 2% on the irregular amount for the period of default
6. Adverse deviation by more than 20% from the stipulated level in respect of any two of the following ratios : i- Current ratio
ii- TOL/TNW
iii- Interest coverage ratio
1% on the entire outstanding for the period of non-adherence subject to a minimum period of 1 year

Submission of stock statement with delay beyond 20 days of the succeeding month to be considered as non-submission except where period has been extended/ specified by the sanctioning authority.

Actual out of pocket expenses will be recovered in all cases except where specifically exempted.

In case the credit facility is under consortium/ syndication, charges as decided by the consortium/ syndication will apply.

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