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Service Charges

SCHEDULE OF SERVICE CHARGES (All charges in  )

REMITTANCES

Outward Remittance

Pay order (Cashier’s Cheque)            

 1.000

 INR/USD/AED Demand Draft

 1.000

Electronic Funds Transfer-INR

 2.000 per remittance *

Remittances other than INR Excluding charges of correspondent Bank /at receiving end.

 5.000 per remittance

Local Remittances:

To account with local Banks:  RTGS / ACH

Branch initiated-  1.000

Digital Channel – Nil

ACH (Salaries & WPS)

 1 per employer per month

ACH (Direct Debit & e-Mandate)

Payer – Nil

Payee –  1 per mandate registration.

Inward Remittance:

USD, GBP, EUR

 5.000

 COLLECTIONS

Local

 0.250

USD, GBP, EURO

 0.500 plus actual postage / courier expenses

 

 CANCELLATION

Pay Order      

 0.500

INR-DD (at Banks buying rate)

 1.000 +  Actual Charges levied by SBI, ISB Mumbai  Branch

Electronic Funds Transfer

NIL

 OTHER SERVICES

Facilitation of opening of a/c with SBI in India incl. DD Commission

 3.000

Actual out of pocket expenses as  applicable

 

DEPOSIT PRODUCTS

 (a) SAVINGS ACCOUNT

Type of Account

Minimum Balance to be Maintained

Normal SB Accounts

 100.00

Minimum balance **              

Penalty  0.500 p.m. if balance falls below Minimum Balance except Salary Protection Scheme Accounts.

Salary Protection Scheme

No Minimum Balance

However,  2.00 is charged p.a. for Salary Protection Scheme as per CBO guidelines.

Basic WPS Savings Account

No Minimum Balance

 (b) CURRENT ACCOUNT

Minimum balance **

 200 

(penalty of  0.500 per month if  balance falls below  200/-)
Cheque Book Charges

25 Leaves        2.000

50 Leaves        3.000

Issuance of Certificates

No liability, balance confirmation etc.

 2.000 per certificate.

** No such charges if account is maintained for receiving pension and other social support allowance granted by Government of Oman to pensioners / disabled persons. No charges shall be levied resulting in balance becoming debit.

 

 (c) BALANCE CONFIRMATION / NO DUES CERTIFICATE:

BALANCE CONFIRMATION / NO DUES CERTIFICATE:  2 per certificate

 ACCOUNT CLOSURE

If account operated for more than 1 Year
NO CHARGES

If account operated for less than one year
  3.000

For Basic WPS Savings Account
No Charges

 Duplicate Statements:

Up to 6 months old:

 1.000

6-12 months old           :

 3.000

Beyond 1 year              :

 5.000

Pre mature closure of deposit a/cs:

No deduction of Principal amount

Interest will be paid 0.5 % less than applicable interest for the period run.

 STANDING INSTRUCTIONS

Within the Bank               

Free

Inter-Bank in Oman         

Free

  CHEQUE RETURNS CHARGES

Returned for want of funds

 15.000
Stop Payment (per instruction)
single or bunch of serially numbered cheques

 5.000
Stop payment cancellation charges

 5.000

 

  SPECIAL CLEARING (only for cheques above RO 5000):     FREE

  Photocopy of the Paid Cheque:

If cheque is with in one year

        2.000

If the cheque is more than one year

        3.000

          

   Dormant Accounts:

   5.000 per Half Year for regular Savings & Current Accounts

   1.00 per year for Basic WPS Savings Account 

   Issuance of Supplementary / Duplicate ATM card :

 Issuance of Supplementary / Duplicate ATM card :

 2.000