Service Charges- The Surat People's Co-operative Bank Ltd.

The Reserve Bank of india has, Vide circular no.DoR .MCS.REC.28/01.01.001/2023-24 (RBI/2023-24/53) Dated August 18,2023 on "Fair Lending Practice – Penal Charges in Loan Accounts" , issued instructions ( “RBI Instructions”) regarding quantum and levy of penal charges on loan accounts. The RBI instructions mandate penalty to be treated as ‘Penal Charges’ and not be levied as ‘Penal Interest’.

We wish to inform you that the penal interest (if and when applicable ) will be treated as Penal Charges with effect from 01-04-2024 for your loan account. The Penal Charges with effect from 01-04-2024 are set out in Schedule I.

Schedule I

Existing Default/ Penal Interest

Revised Penal Charges

As per the Existing Sanction Letter / Loan Agreement

2% p.a. above current application interest rate (aggregate not exceeding 24% p.a.)

There Shall be no further interest charged on the Penal Charges

Please Note, The said Penal Charges will be subject to GST as per applicable laws on Goods and Service Tax in india , and GST will be charged separately.

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Service Charges (w.e.f - 01/10/2025)
Sr.no	Charge Description		New Charges (18%)
			Income		GST @ 18 %				Total
1	Locker Rent
	Locker Rent A Type		600.00		108.00				708.00
	Locker Rent B Type		800.00		144.00				944.00
	Locker Rent C Type		1000.00		180.00				1180.00
	Locker Rent D Type		1400.00		252.00				1652.00
	Locker Rent E Type		1600.00		288.00				1888.00
	Locker Rent F Type		2600.00		468.00				3068.00
	Locker Rent G Type		2900.00		522.00				3422.00
	Locker Rent H Type		3300.00		594.00				3894.00
	Locker Rent K Type		6000.00		1080.00				7080.00
	Locker Rent K1 Type		6000.00		1080.00				7080.00
	Locker Rent L Type		6000.00		1080.00				7080.00
	Locker Rent H1 Type		2000.00		360.00				2360.00
2	Stop Payment Charges (Per Instrument) (Issued cheques / Lost cheques for all Deposit Accounts)(Maximum charges Rs.1000+GST)		100.00		18.00				118.00
3	Maintenance of Minimum Balance (Per Month)
	Savings A/c (NON CHQ) Monthly Min. Average Balance = ₹ 2000		100		18				118
	Savings A/c (WITH CHQ) Monthly Min. Average Balance = ₹ 2000
	Current A/c Monthly Min. Average Balance = ₹ 5000
	Junior Savings A/c Monthly Min. Average Balance = ₹ 1000		NIL		NIL				NIL
	Premium Savings A/c Monthly Min. Average Balance = ₹ 50,000		100		18				118
	Premium Current A/c Monthly Min. Average Balance = ₹ 1,00,000		100		18				118
	Super Premium Savings A/c Monthly Min. Average Balance = ₹ 5,00,000		250		45.00				295.00
	Super Premium Current A/c Monthly Min. Average Balance = ₹ 5,00,000		250		45.00				295.00
4	Return Charges Inward		350.00		63.00				413.00
5	Return Charges Outward		100.00		18.00				118.00
6	Cheque Book Issue (CU / CC / OD)
	Premium Current Account Per LEAF (135 LEAF Free)		3.00		0.54				3.54
	Super Premium Current Account (Unlimited Leaves Free)		NIL
7	Savings Account Per LEAF (30 LEAF Free)		3.00		0.54				3.54
	Premium Savings Account Per LEAF (60 LEAF Free)		3.00		0.54				3.54
	Super Premium Savings Account (Unlimited Leaves Free)		NIL
8	Demat Charges (Inclusive)		350.00		63.00				413.00
9	ECS / NACH Return Charges		250.00		45.00				295.00
10	Nach Mandate Charges (Inward)		250.00		45.00				295.00
11	ATM Additional Card (EXCLUSIVE)		200.00		36.00				236.00
12	ATM AMC		200.00		36.00				236.00
13	ATM TRANSACTIONS:
	SPCB ATM’S		NIL
	Non-SPCB ATM’s – in Metro Cities 3 txn free in a month
	(1) Financial Transaction		21.00			3.78		24.78
	(2) Non-Financial Transaction		8.50			1.53		10.03
	Non-SPCB ATM’S – In Non-Metro Cities 5 txn free in a month
	(1) Financial Transaction		21.00			3.78		24.78
	(2) Non-Financial Transaction		8.50			1.53		10.03
	*Metro cities – transactions done in Mumbai, New Delhi, Chennai, Kolkata, Bangaluru,Hyderabad,Ahemdabad and Pune ATMs.
	*For the Purpose of Computation of domestic ATM transactions charges, the month end cut off timing is 7:30 p.m. Transactions done post this cut off time will be considered in the next month. The transaction will be counted for calendar month.
14	Card Replacement		200.00			36.00			236.00
15	Pin Replacement		100.00			18.00			118.00
16	Outstation Bills Return Charges		250.00			45.00			295.00
17	O.B.C Return Charges		100.00			18.00			118.00
18	Duplicate Passbook One Year Entry (Max 2 Page)		50.00			9.00			59.00
19	Additional Page / Statement Per Page		15.00			2.70			17.70
	Hard Copy – Over The Counter Maximum		500.00			90.00			590.00
	Soft Copy – Through Net Banking/Mobile Banking/ Email		NIL
20	RTGS Charges
	2 Lakh to 5 Lakh (No Charge via digital Channel)		24.00		4.32				28.32
	> 5 Lakh (No Charge via digital Channel)		49.00		8.82				57.82
	Premium Current & Premium Savings Account		NIL
	Super Premium Current & Super Premium Savings Account		NIL
21	NEFT Charges
	Upto ₹ 10,000 (No Charge via digital Channel)		2.50		0.45				2.95
	> 10,000 upto 1,00,000 (No Charge via digital Channel)		5.00		0.90				5.90
	> 1,00,000 upto 2,00,000 (No Charge via digital Channel)		15.00		2.70				17.70
	Above 2,00,000 (No Charge via digital Channel)		25.00		4.50				29.50
	Premium Current & Premium Savings Account		NIL
	Super Premium Current & Super Premium Savings Account		NIL
22	PAY SLIP
	Upto ₹ 10,000		30.00		5.40				35.40
	10,001 to 1,00,000		50.00		9.00				59.00
	> 1,00,000		100.00		18.00				118.00
	Premium Current & Premium Savings Account		NIL
	Super Premium Current & Super Premium Savings Account		NIL
23	DEMAND DRAFT
	Upto ₹ 10,000		40.00		7.20				47.20
	10,001 to 60,000		60.00		10.80				70.80
	> 60,001		₹ 1 per 1000
			Max ₹ 1120 (GST Extra)
	Premium Current & Premium Savings Account		NIL
	Super Premium Current & Super Premium Savings Account		NIL
24	DD / PO Cancellation Charges		50.00		9.00				59.00
25	Penal Charge on Late Submission of Stock Statement		2 % of Outstanding Balance
26	Share Transfer Fee								7.00
27	Members ID Card Fee								34.00
28	Entrance Fee								50.00
29	Nominal Membership Fee								50.00
30	Duplicate Share Certificate Issue Fee (Per Certificate)								100.00
31	Token Lost Charges		500.00		90.00				590.00
32	LOAN PROCESS FEE (100 % at the time of Sanction / Process)
	Loan Upto 1 Lakh		500.00		90.00				590.00
	Above 1 Lakh to 5 Lakh		1000.00		180.00				1180.00
	Above 5 Lakh to 10 Lakh		3000.00		540.00				3540.00
	Above 10 Lakh to 25 Lakh		5000.00		900.00				5900.00
	Above 25 Lakh to 1 Crore		0.25 % of Advance Amt + GST Extra
	Above 1 Crore		0.30 % of Advance Amount + GST Extra
33	Account Close Charges (Within one year) (Current Account & Savings Account)		250.00		45.00				295.00
	*After One Year No Charges.
34	OD / CC Renewal Charges
	Upto 10 Lakh		Nil
	Above 10 Lakh		0.20 % of Disbursed Amount + GST Extra
Mobile / Internet Banking user gets 50 % discount w.e.f 15/12/2021. (For only those who utilizes 10 % of their total debit transactions through Mobile or Internet Banking)
35	Property Release Charge		5000.00		900.00				5900.00
36	Solvency Certificate
	Upto 1 Lakh		250.00		45.00				295.00
	Above 1 Lakh to 10 Lakh		500.00		90.00				590.00
	Above 10 Lakh to 50 Lakh		1000.00		180.00				1180.00
	Above 50 Lakh		2500.00		450.00				2950.00
	Advance Facilitation Charges
37	TOD / Exceed Charges at the time of TOD		2000.00		360.00				2360.00
38	TOD / Exceed Extend Charges		2000.00		360.00				2360.00
39	Property Change Request (Per Loan)		3000.00		540.00				3540.00
40	Machinery Changes Request		1000.00		180.00				1180.00
41	Supplier Changes Request		1000.00		180.00				1180.00
42	Resolution Cancel / Extension Request		1000.00		180.00				1180.00
43	Switchover Charges (Charges + 18 % GST Extra)		2 % of Outstanding (Other than Individual only)
44	Commitment Charges (Charges + 18 % GST Extra)		If Avg. Utilization Is > 60% then No Charges, If Avg. Utilization Is < 60% then 0.25% Per Annum.
	Charges Levy On The Difference Between Actual Utilization And Expected Average Quarterly utilization i.e.60%
45	Advance Condition Violation Charges		2 % of Outstanding Amount of Loan and in case of CC/OD account 2% of Sanctioned Limit or Outstanding whichever is more.
46	CERSAI REGISTRATION CHARGES (Per Asset)
	Movable Asset (Fresh Registration)		100.00		18.00				118.00
	Movable Asset (Existing Registration)		100.00		18.00				118.00
	Immovable Asset (Fresh Registration)		NIL
	Immovable Asset (Existing Registration)		NIL
	Additional Fee (Movable Asset Fresh Registration)		NIL

	No of Days of Delay in Filing of Security Interest
	From 31 Days to 40 Days (Two times the amount of applicable fee + Original fee )		300.00		54.00				354.00
	From 41 Days to 50 Days (Five times the amount of applicable fee + Original fee )		600.00		108.00				708.00
	From 51 Days to 60 Days (Ten times the amount of applicable fee + Original fee )		1100.00		198.00				1298.00
47	SMS Charges Quarterly { PER TRANSACTION } (Savings , Premium Savings, Current, CC-OD Accounts)		0.20		0.04				0.24
	SMS charges for Premium Current Account, SUPER Premium Current/ SUPER Premium Savings Account		NIL
	Foreign Letter of Credit
48	(A) Sight L/C (DP) :- 0.50% Per LC including Commission & Commission of other Banks (GST – 18 % Extra)
	(B) Usance L/C (DP) :- 1.50% P.A including Commission of other Banks (GST – 18 % Extra)
49	Inland L/C (Usance & Sight) – 0.50% per L/C (GST – 18 % Extra)
50	LC Amendment		1000+GST
51	Foreign Remittance
		Upto 8 Lakh	1200+GST
	IMPORT	8 Lakh to 12 Lakh	0.15%+GST
		12 Lakh and Above	1800+GST
	LRS (Education +Family Maintenance) (Any amount)		1000+GST
	EXPORT (Any amount)
	Inland Guarantee
52	1% Commission per annum in case of 100% secured Guarantee / L.C by way of our FD Receipts. In all other cases 1.50% Commission per annum.(GST – 18 % Extra)
53	Signature Verification Charges
	Premium Current & Premium Savings Account		100.00		18.00				118.00
	Super Premium Current & Super Premium Savings Account		100.00		18.00				118.00
54	Balance Certificate Issuance Charges		NIL
	Premium Current & Premium Savings Account		100.00		18.00				118.00
	Super Premium Current & Super Premium Savings Account		100.00		18.00				118.00
55	Cash Handling Charges:- Aggregate Amount Credited in A/C per day including BNA @ Any Branch
Sr no.	Cash Deposit Amount
			Charges		GST				Total
1	Below Rs. 2,00,000		Nil		Nil				Nil
2	Rs. 2,00,000 to Rs. 4,99,999		Rs. 0.50/- per 1000/-, Min Rs. 50/- per transaction beyond free limits.
3	Rs. 5,00,000 to Rs. 9,99,999
4	Rs. 10,00,000 to Rs. 14,99,999
5	Rs. 15,00,000 to Rs. 19,99,999
6	Rs. 20,00,000 to Rs. 29,99,999
7	Rs. 30,00,000 & Above

Premium A/Cs (Current & Savings)
Sr No.	Cash Deposit Amount
				Savings A/c			Current A/c
1	Below Rs. 2,00,000			Nil			Nil
2	Rs. 2,00,000 to Rs. 4,99,999			Nil			Nil
3	Rs. 5,00,000 to Rs. 9,99,999			Rs. 0.50/- per 1000/-, Min Rs. 50/- per transaction beyond free limits.
4	Rs. 10,00,000 to Rs. 14,99,999
5	Rs. 15,00,000 to Rs. 19,99,999
6	Rs. 20,00,000 to Rs. 29,99,999
7	Rs. 30,00,000 & Above


Cash Handling Charges Aggregate Amount Credited in A/C per day including BNA [GST Extra] @ Any Branch
Super Premium A/Cs
Sr No.		Cash Deposit Amount
				Savings A/c			Current A/c
1		Below Rs. 2,00,000		Nil			Nil
2		Rs. 2,00,000 to Rs. 4,99,999		Nil			Nil
3		Rs. 5,00,000 to Rs. 9,99,999		Nil			Nil
4		Rs. 10,00,000 to Rs. 14,99,999		Nil			Nil
5		Rs. 15,00,000 to Rs. 19,99,999		Nil			Nil
6		Rs. 20,00,000 to Rs. 29,99,999		Nil			Nil
7		Rs. 30,00,000 & Above		Nil			Nil

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