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Service Charges
Deposit And Related Charges
Proposed Revised Service Charges (Exclusive of VAT and Government Levy on Digital Transactions)
| Sr no. | Item | Revised/Proposed |
|---|---|---|
| TISS Remittance | Remittance -TZS | TZS 10,000 |
| (Only for A/c holders - Not permitted for non a/c holders) | Remittance -USD | USD 10 |
| Other Outward Remittance | 1USD up to 6,000 | USD 15 |
| USD 6,001 – 10,000 | USD 30 | |
| Above USD 10,000 | @ 0.35% Maximum USD 75 | |
| Tracer Charges | Irrespective of Amount | USD 30 |
| Recall back funds charges | Irrespective of Amount | USD 30 |
Note:
- The above remittance charges are applicable for both BOITL & Other Banks.
- For remittance in other than TZS & USD, equivalent charges as per USD table based on the exchange rate of the remitting currency with USD as on the date of transaction will be leviable.
- In case of cross currency remittance, exchange rate as on the date of transaction will be applicable.
- Outward Remittance (Allowed only up to USD 6,000) for NON Account Holder, Charges will be levied USD 40 per Occasion
| Items | Revised/Proposed |
|---|---|
| From inside Tanzania | Free |
| From outside Tanzania | : as under |
| For Current /Overdraft Accounts | 0.35% of inwards remittance Minimum USD 18 Maximum USD 70. |
| For Saving Accounts | |
| USD 0 up to USD 100 | Free |
| USD 101 up to USD 500 | USD 10 |
| Above USD 500 | USD 18 |
| Items | TZS A/c | USD A/c |
|---|---|---|
| Saving Account :- | ||
| Cash withdrawal per day –Free of charge, up to amount | TZS 25 Mn | USD 2000 |
| Cash withdrawal charges over USD 2,000 to USD 5000 per day | ---- | 0.25% of withdraw amount |
| Cash withdrawal charges over USD 5,000 per day | ---- | 0.60% of withdraw amount |
| Cash withdrawal charges over TZS 25 Mn per day | 0.10% of withdrawal amount | ---- |
| Cash Deposit charges over USD 5,000 per day | ---- | 0.60% of deposited amount |
| Cash deposit charges for small currency USD notes ranging from USD 1 to USD 20, irrespective of amount deposited (i.e. both for below and above USD 5,000) | ---- | 12% (Min USD 1) of the aggregate small currency amount |
| Current Account:- | ||
| Cash withdrawal per day –Free of charge, up to amount | TZS 25 Mn | USD 5000 |
| Cash withdrawal charges over USD 5,000 per day | ---- | 0.60% of withdrawal amount |
| Cash withdrawal charges over TZS 25.00 Mn per day | 0.15% of withdrawal amount | ---- |
| Cash deposit charges over USD 10,000 per day | ---- | 0.60% of deposit |
| Maintenance of minimum balance:- | ||
| For Saving Account-Without Cheque Book Facility | TZS 50,000 | USD 50 |
| With Cheque Book Facility | TZS 200,000 | USD 200 |
| For Current Account | TZS 200,000 | USD 200 |
| Minimum balance charges (in case of non-maintenance of minimum balance) | ||
| Saving Account - Without cheque book | TZS 900 p.m | USD 4 p.m |
| With cheque book | TZS 3600 pm | USD 15 p.m |
| Current Account | TZS 20,000 pm | USD 15 p.m |
| Particular | TZS ACCOUNTS | USD ACCOUNTS |
|---|---|---|
| Stop Payment Instructions | TZS 35,000 | USD 28 |
| Regular statement of a/c (Monthly) | Free | Free |
| Interim /Additional Statement | TZS 1,500 per page | USD 1.50 per page |
| Issue of bankers’ cheque | TZS 40,000 | USD 30 |
| Cancellation of bankers cheque/DD | TZS 20,000 | USD 15 |
| Issue of Duplicate Payslip/Demand Draft/Duplicate TDR. | TZS 30,000 | USD 20 |
| Security applying charges (T-Bills & T-Bonds) | 100,000 | Equivalent to TZS |
| Issue of Balance certificate (Saving Account) | TZS 20,000 | Equivalent to TZS |
| Issue of Balance certificate (Current Account) | TZS 50,000 | Equivalent to TZS |
| Signature verification and Photo Attestation charges for Domestic A/c Holders | TZS 10,000 | Equivalent to TZS |
| Verification of Documents such as KYC Documents along with verification of Photo and Signature of Customer Mentioned account with Bank of India- in India /Overseas | TZS 25,000 | Equivalent to TZS |
| Savings bank customer Identification card- One time | TZS 20,000 | USD 10 |
| Dormant a/c Activation Per Activation Fees |
Individual TZS 5,000 Corporate TZS 12,000 |
Individual USD 3 Corporate USD 6 |
| Account Freezing/un freezing Charges | Free | Free |
| SMS Alert facility | Free | Free |
| Email Alert Facility | Free | Free |
| Monthly Statement on Registered Email | Free | Free |
| Balance Inquiry (Over the Counter) | Free | Free |
| Charges for Deletion of Decease Person Name from the Saving Account | Free | Free |
| Charges for Addition/modification Account such as Change in respect of Corporate A/c | TZS 20,000 | USD 10 |
| Updating of Mobile No. in A/c (SB,CD,OD) | Free | Free |
| Change /Modification in Address (SB,CD,OD) | Free | Free |
| Issuance of No Dues Certificate for Non-Borrowers | TZS 10,000 | USD 7 |
| Ledger Folio Charges per Folio (40 lines per Folio) only for Current and Overdraft Accounts | TZS 6,000 per Folio | USD 4 per Folio |
| Postages/Courier Charges Inland/Foreign | TZS 30,000 or actual charges whichever is higher | Equivalent to TZS |
| Particular | TZS ACCOUNTS | USD ACCOUNTS |
|---|---|---|
| Within walking distance-1 km | TZS 70,000 | USD 45 |
| Far off distance –more than 1 km | TZS 95,000 | USD 65 |
| Cheque returned charges –financial reasons(inward/outward) | TZS 70,000 | USD 55 |
| Inward/outward cheque collection -USD | -- | 0.60% Min comm. USD 18 postages USD 90 |
| Category | Minimum SMS Alert Charge (To be recovered quarterly upfront) | Number of Free SMS on paying SMS Alert charge | SMS Alert charge per SMS beyond the free SMS (To be recovered in monthly basis) |
|---|---|---|---|
| Individual | Free of cost | No Limit | Free of cost |
| Corporate | Free of cost | No Limit | Free of cost |
Dormant a/c Activation– Per Activation Fees
| Particular | TZS ACCOUNTS | USD ACCOUNTS |
|---|---|---|
| Individual | TZS 5,000 | USD 3.00 |
| Corporate | TZS 12,000 | USD 6.00 |
| Particulars | TZS ACCOUNTS | USD ACCOUNTS |
|---|---|---|
| Savings bank customer identification card- One time | TZS 10,000 | USD 7 |
| Cash Withdrawal Charges | ||
| Cash withdrawl per day –Free of charge, upto amount | TZS 25 Mn | USD 2000 |
| Cash withdrawal charges over USD 2,000 to USD 5000 per day | -- | 0.25% of withdraw amount |
| Cash withdrawal charges over USD 5,000 per day | -- | 0.60% of withdraw amount |
| Cash withdrawal charges over TZS 25 Mn per day | 0.10% of withdrawal amount | -- |
| Cash Deposit Charges | ||
| Cash deposit charges over USD 5,000 per day | -- | 0.60% of deposited amount |
| Cash deposit charges for small currency USD notes ranging from USD 1 to USD 20, irrespective of amount deposited (i.e. both below and above USD 5000) | -- | 12% (Min USD 1) of the aggregate of small currency amount |
| Cheque book charges 25 leaves | TZS 20,000 | USD 15 |
| Account closure charges | TZS 35,000 | USD 25 |
| Maintenance of minimum account balance | ||
| Without cheque book | TZS 50,000 | USD 50 |
| With cheque book | TZS 200,000 | USD 200 |
| Minimum balance charges (in case of non maintenance of minimum balance) | ||
| Without cheque book | TZS 900 p.m | USD 4 p.m |
| With cheque book | TZS 3,600 pm | USD 15 p.m |
| Particulars | TZS ACCOUNTS | USD ACCOUNTS |
|---|---|---|
| Ledger Folio Charges per Folio (40 lines per Folio) | TZS 6,000 per Folio | USD 4 per Folio |
| Cash withdrawl per day –Free of charge, upto amount : | TZS 25 Mn | USD 5000 |
| Cash withdrawal charges over USD 5,000 per day | -- | 0.60% of withdraw amount |
| Cash withdrawal charges over TZS 25.00 Mn per day | 0.15% of withdrawal amount | -- |
| Cash deposit charges over USD 10,000 per day | -- | 0.60% of deposited amount |
| Cash deposit charges for small currency USD notes ranging from USD 1 to USD 20, irrespective of amount deposited (i.e. both below and above USD 5000) | -- | 12% (Min USD 1) of the aggregate of small currency amount |
| Cheque book charges 50 leaves | TZS 42,000 | USD 27 |
| Account closure charges | TZS 85,000 | USD 70 |
| Maintenance of minimum account balance | TZS 500,000 | USD 500 |
| Minimum balance charges | TZS 20,000 pm | USD 15 p.m |
| Particulars | Revised |
|---|---|
| Proposal processing charges :- | |
| New Overdraft/Term Loan/Demand Loan | 1.50% of sanctioned limit (Regular Limit – 1.50% for 12 Months) |
| TOD/TOL/ADHOC | Proportionate to 1.50% for TOL/TOD/ADHOC Period minimum USD 60 |
| New NFB BG/LC Facility | 1.50% of sanctioned limit (Regular Limit – 1.50% for 12 Months) |
| Review of Overdraft Limit | 1.50% on entire sanctioned amount |
|
Review of Term Loan Demand Loan Personal Loan Vehicle Loan Loan Against Property Etc. |
0.15% maximum USD 600 or TZS 1.20Mn on the reviewed amount and 1.50% on the additional Term Loan /Demand Loan amount. |
| Schematic Lending up to 36 months/Staff Loan | NIL |
| Prepayment charges | 2.50% of the prepaid loan amount |
| Documentation charges for New Overdraft Limit/Term Loan/Demand Loan/Non Fund base Limit |
Actuals as per advocate Bill + 0.30% handling charges 1) No Documents charges would be applicable for TOD/TOL/ADHOC Limit, however actual expenses if any to be recovered. 2) Documentation charges also NOT Recoverable for the Loan/Overdraft against FDR. |
| Charges for Amendments/Modification of Sanction Terms |
0.25% on the sanctioned limit We enumerate the illustrative instances of Modification in Terms and Conditions to be effected at the request of the Borrower where this charge will be levied:- 1) Substitution of Collateral Securities/Personal Guarantee 2) Release of Personal Guarantee/Collateral Security. 3) Interchangeability of limits. 4) Change in project/items of Machinery 5) Ceding of charges on assets(Pari-Passu) 6) Restructuring, Rephasement of Loans/ Deferment of Loan installments. 7) Approvals for mergers & amalgamations. 8) Any other miscellaneous credit related approvals. |
| Revalidation of Sanction | 25% of Applicable PPC Charges on Overdraft Limit/Term Loan/Demand Loan |
| Lead bank Charges | USD 1000 or equivalent in TZS per annum/one time |
| Fee for Opening Escrow/TRA A/cs (Trust and Retention A/Cs) |
Where We are Lead bank : Nil We are don't Lead Bank: USD 500 or equivalent in TZS per annum/one time |
| Charges for Supplying copies of Loaning Documents to Customer |
First instance : Free USD 10 or equivalent in TZS for further requirement |
| Non/Delayed Submission of Audited Financial Statements of the Company OR wherever applicable |
USD 100 or equivalent in TZS per month or part thereof NOTE: Audited Financial statements of the firm/company within 6 months from closure of Financial Year or as approved by TRA for the relevant year |
| Inspection charge |
TZS 50,000 or equivalent to USD per visit /inspection or at least once in quarter whichever is higher. NOTE: 1) Out of Pocket Expenses to be recovered additionally along with regular inspection charges wherever applicable 2) Project Monitoring Inspection Charges/Technical Due Diligence Inspection charges: Considering the fact that this inspection is proposed for safeguarding banks Interest, normal inspection charges besides travelling, boarding/lodging expenses are to be recovered from the borrower. |
| Issuance of No objection certificate (NOC) | USD 100 or equivalent in TZS |
| 1st party/3rd party Overdraft/Loan against deposit of our Bank (BOITL) | Waiver of Processing & Documentation charge |
| Overdraft/Term Loan/Demand Loan Conversion Charges (Currency Conversion) |
For Overdraft account 0.50% of Sanction Limit. For Term Loan/Demand Loan 0.50% of O/s Amount |
| Earmarking of Limits | USD 500 or equivalent in TZS per annum |
| Non Compliance of Sanction terms/Commitment charges | 1.00% additional Penal Interest to be charge till compliance of Sanction terms |
NOTE :
- Over and above the charges, the applicable VAT (Value added Tax) to be loaded while levying the service charges.
- All out of Pocket expenses like courier charges, Swift charges to recover additionally/separately.
- Staff eligible for staff concession such as Proposal Processing charges/Documents Charges/Inspection Charges/ CIB Charges are exempted from service charges except out of pocket expenses (swift charges/postage etc.)
- 50% of proposal processing charges will be recovered upfront from the Applicant at the time of submission of Application.
| Particular | USD Facility | TZS Facility |
|---|---|---|
| Upto TZS 20 Mn/USD 10,000 (Only for new and additional Limit. Review -No charge) | USD 5 | TZS 5,000 |
|
Over USD 10,000 to USD 50,000/ Over TZS 20 Mn upto TZS 100 Mn |
USD 10 | TZS 20,000 |
| Over USD 50,000/TZS 100 Mn | USD 50 | TZS 100,000 |
| D&B search for non Borrower, on request. | USD 50 | TZS 100,000 |
| Charges for Furnishing copy of Credit Information report obtained from CIC | USD 10 | TZS 20,000 |
| Particular | |
|---|---|
| Guarantee Commission | 1.35% per quarter or part thereof minimum for one quarter. |
| Guarantee against 100% cash margin | 50% concession on the above rate |
| Swift Charges | As Applicable |
| Postages | As Applicable |
| Revert of Guarantee before Expiry | Minimum 1 Qtr BG Commission to be recovered for part of quantum of full guarantee commission to be recovered |
| Closure of Guarantee After Expiry of Claim Period | Nil |
| Invoke of Guarantee | USD 200 or equivalent in TZS |
A. Financial Guarantees :-
- 1. In favour of Customs/Excise/Tax Authorities towards tax/Duties payment Etc.
- 2. Favouring Courts for Release of Amounts.
- 3. For Guaranteeing Loan payments.
B. Performance Guarantees:-
- 1. In lieu of earnest money deposit
- 2. In lieu of tender deposit
- 3. In lieu of security deposit
- 4. To obtain advance payments (generally exports)
- 5. To obtain mobilization advance (generally domestic)
- 6. Towards Direct/indirect taxes to govt. in respect of specific transaction
- 7. For Direct/indirect taxes disputes with tax Authorities.
- 8. For payment for supplies/services made /rendered
- 9. For Securing retention amount
- 10. For Bidding/tendering for Project Contacts
- 11. For Performance in terms of any agreed contact.
Note: - No processing charges or documentation charges are to be levied in case of Casual BG limits issued against 100% or more cash margin.
| Particular | |
|---|---|
| LC opening charges | 1.35% per quarter +SWIFT charges USD 75/- |
| Against 100% cash margin | 50% concession on the above rate i.e. 0.67% per quarter +SWIFT charges USD 75/- |
| LC Amendment Charges | Per amendment 0.40% of LC amount (minimum USD 60 and Maximum USD 325) +SWIFT charges USD 30 (Same for LC against 100% cash margin) |
| Acceptance of bills under LC | 0.60% of Bill amount Min USD 30 Maximum USD 180 |
| Retirement of bills under LC | 0.60% of Bill amount Min USD 30 Maximum USD 360 |
| Inward Bills for Collection | 0.30% of Bill amount minimum USD 150 |
| Particular | |
|---|---|
| Negotiation of Bills under LC | 0.60% of Bill amount Minimum USD 30 Maximum USD 360 |
| Confirmation of Export LC | 0.90 % per quarter +SWIFT charges USD 30/- |
| LC Advising Charges | USD 150 |
| Export Bills for Collection | 0.60% of Bill amount Minimum USD 30 Maximum USD 360. |
| Charges for Certifying invoices subsequent to negotiation | USD 10 Per Invoice |
| Clean payment Received under LC | USD 100 per occasion |
| Advice of transfer in transferable LC | USD 100 per advice of transfer and acceptance commission at 0.30% Minimum USD 100 |
OUR EXCHANGE RATE
LATEST NEWS
-
Dear Esteemed Customers we are pleased to inform you that our SMS alert facility for our account holders is now Free of charge.Kindly contact our branches for details and activation
-
02/08/2012 We are happy to announce that business hours of our Zanaki street Branch have been extended up to 4.00pm from Monday up to Friday
