BANK MELLI IRAN |
SCHEDULE OF SERVICE CHARGES FOR UAE NETWORK |
Effective January 1, 2003 |
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| 1 |
PERSONAL LOANS (Insured) |
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1.1 |
Interest Rate on Personal Loans (in general).............................13 to 14% p.a.on reducing balances |
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1.2 |
Interest Rate on Personal Loans to employees of government departments/ organisations and approved private companies/organisations...............................10% - 14% p.a.on reducing balances |
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1.3 |
Processing fee........................................................................1/2% min. AED. 200.00 per loan |
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1.4 |
Insurance Charges................................................................. No charge upto AED.250,000.00 per loanee (If age would be less than 65 years on maturity) |
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1.5 |
Penalty rate for payment of loan before maturity.....................1% of outstanding amount..................................................................................Max. AED 500.00 |
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| 2 |
CURRENT ACCOUNTS |
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2.1 |
Minimum average monthly credit balance for Personal Accounts |
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a) Local Currency (salary accounts exempted) ................... AED. 2,000.00 |
b) Foreign Currency.................US$.1,000.00 |
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2.2 |
Minimum average monthly credit balance for Business/Institution Accounts (Legal persons) |
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a) Local Currency...................................................................................AED. 5,000.00 |
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b) Foreign Currency................................................................................US$.2,000.00 |
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2.3 |
Charges, if balance falls below the prescribed levels |
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a) Local Currency............................................................................. .....AED. 25.00 per month |
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b) Foreign Currency................................................................................US$. 15.00 per month |
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2.4 |
Post dated cheques (PDCs) Custodial service for presentation on due dates - Commercial borrowers exempted................................................................................AED.15.00 per cheque |
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2.5 |
Charges for Issuance of Cheque Books |
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a) 25 leaves Cheque Book...................................................................... AED. 10.00 |
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b) 50 leaves (Small) Cheque Book.......................................................... AED. 20.00 |
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c) 50 leaves (Large) Cheque Book.......................................................... AED. 25.00 |
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d) Customised Cheque Books (for prime customers only).........................At cost |
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2.6 |
Temporary Overdrafts............................................................................. Fee of AED 100.00 or US$ 30.00 per occasion + applicable interest |
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3 |
SAVINGS ACCOUNTS |
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3.1 |
Minimum credit balance (salary accounts exempted)..................................AED. 500.00
(Payment of interest is allowed only when interest accrued for the year is minimum AED 100/-) |
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4 |
TIME AND CALL DEPOSITS |
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4.1 |
Minimum credit balances : |
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a) Time Deposits : AED. 5,000.00 ; Foreign currency : US$ 2,000.00 or equivalent (Min.one month) (For Dubai Main Branch : AED 25,000/- ; Foreign currency : US$ 10,000/- or equivalent) |
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b) Call Account : AED.25,000.00 ; Foreign currency : US$ 10,000.00 or equivalent |
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4.2 |
A penalty shall be payable in all cases where a Time Deposit is withdrawn before the maturity date. In such cases interest will only be paid at a rate equivalent to 1% per annum below the rate applicable for the period for which the deposit has actually been with the Bank. Branch shall also consult the Dealing Room for payments before maturity in excess of AED 1,000,000.00 or equivalent. |
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4.3 |
Call Deposits - Payment of interest is allowed only when interest accrued for the month is minimum ...............................................................................................................AED 100.00 |
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5 |
OTHER SERVICES |
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5.1 |
(a) Standing Instructions : (Per transaction) Within UAE.......................... AED. 50.00
Outside UAE..........................................................................................AED. 50.00 + additional Postal/telex charges |
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(b) Standing Instructions for internal transfer between accounts of same customer, same branch....................................................................................................AED 100.00 per annum |
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5.2 |
Noting of Stop Payment Instructions (per Instruction)............................. AED. 100.00 |
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5.3 |
Charges for closing accounts - per A/C : Savings A/C (if closed in 12 months) : ...AED 25.00, Current A/C :........................................................................................ AED. 50.00 |
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5.4 |
ATM Card Fees |
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a) Issuing............................................................................................... No charge |
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b) Replace lost/stolen (per Card)........................................................... AED. 50.00 |
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5.5 |
Returned Cheques |
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a) Drawn on own account (BMI) - for want of funds - per cheque on each presentation............................................/...............................................AED. 100.00 |
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b) Third party cheque deposited for collection - per cheque.................... AED.15.00 |
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| 6 |
CLEAN PAYMENTS/REMITTANCES |
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Outward |
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6.1 |
By telex/Swift in UAE............................................................................ AED.40.00 |
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6.2 |
By telex/Swift to Iran- For customers : ...................................................AED 50.00,
Non-Customers : ...................................................................................AED. 75.00 |
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6.3 |
By telex/Swift for other countries outside UAE - For customers.............. AED. 75.00 |
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For non-customers....................................................AED. 200.00 |
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6.4 |
By Mail - Payment Order/Pay Order - In UAE...................................... AED. 10.00 |
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Outside UAE........................................................... AED. 20.00 |
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6.5 |
a) D.D. or Pay Order Charges................................................................Minimum.AED. 20.00 |
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b) Stop payment of DD or pay order (Against indemnity)........................ AED. 100.00 |
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c) Cancellation of DD or pay order ........................................................AED.20.00 plus Telex/Swift charges |
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Inward |
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6.6 |
Incoming TT/MT for credit of Customers A/C.........................................AED. 15.00 |
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6.7 |
Payment over counter (or by BMI P/O) to non-customer........................ AED. 25.00 |
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6.8 |
Incoming TT/MT to be re-transferred : |
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a) By P.O/Telex/Swift - in UAE..............................................................AED. 50.00 |
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b) By telex/Swift - To out of UAE ..........................................................AED. 100.00 |
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7 |
COLLECTIONS |
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7.1 |
Cheques drawn on Banks in UAE where clearing facilities are not available.(OBC...........................................................................AED. 20.00 + postage AED. 5.00 |
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7.2 |
Cheques drawn in UAE where clearing facilities are available.......No charge |
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7.3 |
Cheques drawn outside UAE (FBC)...........................................AED. 50.00 plus corres.charges |
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8 |
GENERAL POSTAGE (To be recovered in all cases where mailing is required as part of transaction) |
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8.1 |
Within UAE................................................................................ Actuals plus AED. 10.00 |
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8.2 |
Outside UAE.............................................................................. Actuals plus AED. 20.00 |
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8.3 |
By courier service.........................UAE : AED. 50.00 ; Iran : AED. 150.00 ; Others : AED. 200.00 |
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8.4 |
By Fax........................................ UAE : AED. 10 per page, Out of UAE : AED. 20 per page |
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9 |
GENERAL CABLE/TELEX/FACSIMILE/SWIFT |
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9.1 |
Within UAE............................................................................... Actuals plus AED. 20.00 |
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9.2 |
Outside UAE............................................................................. Actuals plus AED. 30.00 |
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10 |
MISCELLANEOUS |
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10.1 |
Trade Information (Status reports/opinion, enquiry re.customers - Correspondent Bank charges extra) - per enquiry : Within UAE ............................................AED. 30.00 ; In Iran : AED.50.00 Other countries :...................................................................... AED. 100.00 |
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10.2 |
Audit/Balance confirmation certificate.......................................AED. 100.00 |
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10.3 |
Other certificates (each)...........................................................AED. 100.00 |
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10.4 |
Post dated cheques certified good for payment, per cheque.......Commission @ 1/8% p.m. (min.3 months), Minimum AED. 200.00 |
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10.5 |
Spl.clearing cheques (inward & Outward, per chq.)..................AED. 100.00 |
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BANK MELLI IRAN - SCHEDULE OF SERVICE CHARGES FOR UAE NETWORK FROM 1.1.2003 |
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10.6 |
Providing copies of documents or old records |
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a) Upto one year old....................................... .............. AED. 15.00 per page |
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b) Over one year............................................................AED.25.00 per page (Min. AED.75.00) |
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c) All additional statements of accounts...........................AED. 5.00 per page |
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10.7 |
Advance to customers against salary................................Interest at 14% p.a. Min. AED. 50.00 |
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10.8 |
Foreign Currency Notes Deposits or withdrawals from F.C. Account.(or concerning Remittances)...................................................................Commission @1% (Min. AED.20.00) |
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10.9 |
Central Bank Switch charges : |
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a) Per cash transaction ....................................................AED. 2.00 |
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b) Per balance enquiry.....................................................AED. 1.00 |
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11 |
COMMERCIAL CREDIT FACILITIES |
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11.1 |
Processing fee for sanction of commercial credit lines (New/Renewal/Enhancement) comprising |
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Cash and non cash facilities....................................... 0.2% (i.e. 2 per thousand),
min. AED. 500.00, Maximum AED 10,000.00 |
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11.2 |
Interest rates on funded credit facilities............................As per Agreement |
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11.3 |
Local Bills Discounted (LBD) |
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a) Interest .................................................................As per Agreement |
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b) Commission........................ 0.4% (i.e. 4 per thousand), Minimum AED. 20.00 per cheque |
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c) LBD returned unpaid.............................................AED 50.00 |
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11.4 |
Penal interest recoverable on overdue/pastdue advances, excess over limit (e.g. Excess over regular & ad-hoc overdraft/LBD limits, pastdue acceptance under LC, overdue BNC, overdue TR, etc.), unauthorised overdrafts ..................................Additional minimum 3% p.a. |
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11.5 |
Minimum interest charges...............................................AED. 50.00 p.m. or part of the month |
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12 |
EXPORT LETTERS OF CREDIT |
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12.1 |
Advising Comm.(per credit).................................AED. 150.00 |
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12.2 |
Negotiation Comm..............................................1/8% flat (min.AED.300.00) |
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12.3 |
Confirmation charges.............As per agreement and reference to Regional Office |
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12.4 |
Amendment Adv.Comm. (per amend.)............... AED. 120.00 |
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12.5 |
Postage............................................................. Min.AED. 50.00 |
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12.6 |
Courier (each set of document)...........................Iran : AED.150.00; Others : AED.200.00 |
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12.7 |
Telex/Swift charges (minimum)............................Local : AED.25.00; Iran : AED. 50.00; Other countries : AED 75.00 |
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12.8 |
Reimbursement charges.....................................1/8% flat (min.AED.300.00, max.AED. 600.00) |
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12.9 |
Discrepancy charges......................................... AED. 200.00 |
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12.10 |
Fax charges (minimum) .....Local : AED.10.00; Iran : AED. 50.00 ; Other countries : AED 75.00 |
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12.11 |
Transfer chg.to another Beneficiary....................AED. 500.00 |
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12.12 |
Assignment letter chg.........................................AED. 400.00 |
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12.13 |
Charges for handling OR scrutiny of documents where Branch is not a negotiating Bank.................................................................AED. 300.00 |
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12.14 |
Commission on each foreign bill purchased/discounted (in addition to interest).............................................................1/8% flat min. AED. 200.00 |
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12.15 |
Exchange compensation for each Export Bill under L/C and LBC (FOBC) paid in foreign currency : |
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a) For Customer...........................................1/16% Min. AED.100.00 |
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b) For Non-customer...................................1/8% Min. AED.200.00 |
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13 |
IMPORT LETTERS OF CREDIT |
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13.1 |
Opening Comm. |
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a) Sight LC.............................................................1/8% p.m. on first AED. 100,000.00 & 1/16% p.m. in excess of AED. 100,000.00 (Min.comm.for 3 months or AED. 250.00 whichever is higher) |
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b) Revolving LC......................................................Same as above plus 1/8% flat to be charged on each revolvement/reinstatement(min.AED.250.00) |
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c) Deferred Payment LC/Usance LC................... Same as (a) above plus 1/8% for each month of the Usance period or part thereof from expiry date to maturity date (min.AED. 300.00) |
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d) Back to Back.....................................................Flat 1/8% per month minimum 3 months, minimum AED. 500.00 |
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13.2 |
Amendment Comm.for (a), (b) & (c) and (d) above.....AED.100.00 per amendment plus comm. for extension/enhancement as applicable |
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13.3 |
Telex/Swift charges : |
Full telex............................................AED. 400.00 |
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Short telex.........................................AED. 100.00 |
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Amendment.......................................Min.AED. 75.00 |
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13.4 |
Postage : |
In respect of Full telex & Swift msg....AED. 30.00 |
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Airmail LC/Courier............................For Iran : AED.150.00; Others : AED. 200.00 |
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13.5 |
Cancellation.........................................................AED. 150.00 |
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13.6 |
Exchange Compensation......................................1/5% for each bill under LC and IBC (FIBC) settled in same foreign curr.(min.AED. 200.00) |
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13.7 |
Reimbursement charges........................................US$.50.00 or equivalent |
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13.8 |
Discrepancy fees..................................................US$. 100.00 (AED.367.00) |
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13.9 |
Customs Duty Receipt.........................................AED. 50.00 |
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13.10 |
Trust Receipt Processing fee (per TR)..................AED.50.00 |
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14 |
GUARANTEES |
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14.1 |
Issuing Guarantees valid for upto 1 year................ Comm.@ 1% p.a. (Min.for 3 months or AED.200.00 whichever is higher) |
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Issuing Guarantees valid over 1 year......................Comm.@ 2% p.a. (Min.for 3 months or AED.300.00 whichever is higher) |
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Postage............................................................... AED. 30.00 |
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If guarantee amount is over AED 500,000/- & fully secured by cash margin, then Branch may reduce comm. to flat fees of AED 250.00 p.a. |
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14.2 |
Amendment for Extension/enhancement..................Same as above |
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14.3 |
Other amendments (fee)........................................AED. 100.00 |
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14.4 |
Shipping Guarantee (per gua.)/Delivery order in lieu of Shipping Documents pergtee/order).......................................................Min. AED. 300.00 |
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14.5 |
Labour Guarantee: 1% p.a. Customer : Min. AED.100.00, Non-Customer : Min. AED.150.00 for each year (Min.collect for 3 years) |
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14.6 |
Delivery Orders for DNATA etc. (Airway Bills)......Min.AED. 200.00 |
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14.7 |
Guarantees backed by counter-indemnity of acceptable Banks, commission is negotiable (Min. AED. 200.00) |
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15 |
DOCUMENTARY BILLS FOR COLLECTION (Local) |
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15.1 |
Payment Comm......................................................1/8% (min.AED. 200.00) |
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15.2 |
Free of payment docs.............................................1/8% (min.AED. 200.00, max.AED.500.00) |
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15.3 |
Sight collection remaining unpaid after 2 months.......AED. 100.00 |
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15.4 |
D/A collection remaining unpaid after due date.........AED. 100.00 |
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15.5 |
Reminder................................................................By Mail : AED. 25.00; Telex for Iran : AED. 50.00; Telex for other countries : AED 75.00 |
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16 |
DOCUMENTARY BILLS FOR COLLECTION (Foreign) |
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16.1 |
Payment Comm......................................................1/8% (min.AED. 200.00) |
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16.2 |
Free of payment docs............................................ 1/8% (min.AED. 200.00, max.AED.500.00) |
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16.3 |
Acceptance............................................................1/8% (min.AED. 200.00) |
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16.4 |
Advising Comm......................................................AED. 75.00 |
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16.5 |
Courier charges...................................................... for Iran: AED.150.00; Others: AED. 200.00 |
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16.6 |
Reminder................................................................By Mail: AED.25.00;
Telex for Iran: AED. 50.00; Telex for other countries : AED 75.00 |
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17 |
FX FORWARD CONTRACTS |
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17.1 |
Forward contracts in foreign currency......................Handling charges per contract AED.200.00 |
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17.2 |
Amendment/cancellation (Unutilised) of forward contracts..................................Handling charges per contract AED.200.00 |
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DEPOSIT RATES |
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FIXED DEPOSIT |
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| DURATION |
INTEREST P.A. |
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| 0 TO 1 MONTH |
4.75% |
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| 1 TO 3 MONTHS |
5.25% |
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| 3 TO 6 MONTHS |
5.50% |
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| 6 TO 9 MONTHS |
5.75% |
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| 9 MONTHS TO 1 YEAR |
6.50% |
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| 1 YEAR TO 2 YEARS |
7.00% |
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| 2 YEAR TO 3 YEARS |
7.25% |
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| CALL |
1.00% |
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ALL RATES ARE INDICATIVE ONLY |
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| Note : This Tariff is subject to General Conditions stated below. |
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General Conditions of TARIFF from 1.1.2003 |
1 |
All fees listed apply only for normal transactions and generally to BMI customers. The charges are negotiable in case of very large transactions. |
2 |
All charges, terms and conditions mentioned are subject to change without notice. |
3 |
Any charges levied by the correspondent Bank will be recovered where incurred. All out of pocket expenses such as postage, courier, fax, Swift, telex, telephone, etc. will be charged, where incurred. |
4 |
This schedule of charges supersedes the previous schedules. |
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For any clarification or charges for transactions not covered in this schedule, please contact your nearest branch of BANK MELLI IRAN in U.A.E. |
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