Punjab National Bank LC Charges

Could you please give here detail of Charges on Inland Letter of Credit (LC) at Punjab National Bank?

[Shaleen]

As you want I am here giving you Charges on Inland Letter of Credit (LC) at Punjab National Bank.

Charges on Inland Letter Of Credit (LC):

Name of the Items:
Revised Rates:

At the time of opening

a) Commitment Charge
(For the period of liability i.e. from the date of opening of credit to the last date of its validity):

0.30% of the LC amount for every period of three months or part thereof.

(b) Usance Charges (according to the tenor of the bill at the rate of)

(a) Bills up to 7 days :
0.30% of the Bill, Min. ` 500

(b) Bills over 7 days to 3 months :
0.60% of the Bill Min. `750

(c) In excess of 3 months.:
0.60% of the Bill for the first three months plus 0.30% p.m. in excess of three months, Min. `1000

(c) Amendment Charge
a. If LC is amended by way of increase in amount:
Both usance & commitment charges shall be levied on the amount of increase. Min. `1000.00

b. If LC is amended by way of extension of period:
0.30% of the LC amount for every extended period of three months or part thereof. Min. `1000

c. Amendment other than above:
`1000 per occasion

(d) Revolving Letter of Credit
a. Opening Charge :
Normal LC opening charge

b.Reinstatement Charge :
On each reinstatement, usance charges according to the tenor as stated above and Commitment charge of 0.25% on the reinstated amounts only.






Here is the attachment.