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Opening Letter of Credit - IMPORTS

Commitment charges for the period of validity of LC**

  • 0.10% per quarter or part thereof
  • Min 1 Quarter or ₹500 whichever is higher
  • On monthly basis thereafter

Usance commission for bills up to:


Note: For the purpose of levying commitment & Usance charges the total amount committed, inclusive of interest amount shall be reckoned

  • 10 Days Sight: 0.10%
  • Over 10 Days and up to 3 months Sight: 0.20%
  • Over 3 Months Sight:
  1. 0.20% for first 3 months 0.10% per month thereafter Minimum  ₹1000

LC opened with 100% cash margin

  • 25% of normal charges
  • Min ₹1000 whichever is higher

Establishment of LC’s on deferred payment terms covering import of goods

0.30% per quarter or part thereof (calculated on the amount under such credit at the beginning of every quarter)

Minimum charges for opening of LC


**For revolving LCs, commitment charge on each amount reinstated from the date of reinstatement to the date of subsequent reinstatement or last date of validity of LC.  Usance charges to be charged on the maximum drawing & subsequently on each reinstatement.


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