Trade Finance and Services

Imports


  Charges Minimum (INR)
1. Letters of credit issuance commission    
Commitment 0.15% per Quarter or part thereof 2000
Sight / Usance (upto 30 days) 0.15% flat 2000
Usance (30 to 90 days) 0.30% flat 2000
Usance (Over  90 days) 0.30% flat for first 3 months + 0.1% per additional month or part thereof 3000
Retirement (FX Through Bank) 0.15% flat 1000
Retirement (No FX Through Bank) 0.25% flat 1000
2. Amendments to LCs    
Financial same as Imports LC Issuance  
Non - Financial INR 1500  
Cancellation of LCs INR 1500  
3. Documentary Collections    
Import Bills on Collections 0.15% flat 1500
Import Bills - Direct Collections 0.15% flat 1500
Advance Import Payment 0.15% flat 1500
4. Other    
Follow up charges for non submission of Bill of Entry (per reminder) INR 250  
BEF Reporting Charges (per reporting) INR 750  
Commission in lieu of exchange (in case of debit from EEFC/RFC/SFC account) 0.25% flat 1000
Bills Returned Unpaid (Overdue > 90 days) USD 100  
Discrepancy fee per bill – Import bill USD 100  
5. Trade Credits    
Processing charge for Letter of Undertaking/ Letter of Comfort INR 2500  
Handling charges for Roll Over requests INR 1500  

Exports


  Charges Minimum (INR)
1. Letters of credit    
Advising Letter of Credit (LC) INR 1500  
Advising LC Amendments INR 1500  
Request for cancellation of LCs INR 1500  
Transfer of LCs  INR 2500  
2. Export Negotiations and Collections    
Negotiation/Scrutiny / Examinations of documents under Confirmed / Unconfirmed LC 0.15% Flat 1500
Export Bills on Collections 0.0625% flat 1500
Export Bills on Collections - Under LC (Under Approval, Without Scrutiny) 0.0625% flat 1500
3. Others    
Handling GR of bills directly dispatched by drawers INR 2000  
SOFTEX Realization / Handling charges  INR 2000  
Bank Realization Certificate Charges INR 300  
Extension of time for realisation of export proceeds INR 1500  
Write off / Reduction in invoice value of export bills INR 1500  
Follow up for submission of Order Copy for Packing credit INR 500  
Follow up charges for o/s export bills (overdue, follow up with foreign bank) INR 500  
Request to change Buyer / Consignee INR 1500  
Export Advance follow up  INR 750 per quarter  
Issuance of GR waiver Certificate (approved by us) INR 2500  

Bank Guarantees (BG)


  Charges Minimum (INR)
1. Financial BG's    
Issuance against 100 % Cash Margin 1.5% p.a. (Min. One Quarter)
1500
Issuance against Non Fund Based Line 3 % p.a. (Min. One Quarter)
1500
2. Non-Financial BG's (Bid / Performance)    
Issuance against 100 % Cash Margin 1.25% p.a. (Min. One Quarter)
1500
Issuance against Non Fund Based Line 2.5 % p.a. (Min. One Quarter)
1500
Amendment to Guarantees    
Financial Same as Issuance Charges  
Non - Financial INR 1500  
Cancellation of Guarantees INR 1500  
Invocation Charges INR 1000  
Co-acceptance commission Same as Financial Guarantee Issuance  
Issuance of Shipping Guarantee / Delivery Order - over & above BG Issuance charges) INR 1500  
Follow up for non submission of documents under Delivery Order issued INR 1000  

Remittances

  Charges Minimum (INR)
1. Outward Remittances    
On all foreign currency remittances other than for payment of imports 0.25% flat 500
2. Inward Remittances    
Processing of Inward Remittance INR 1000  
Issuance of FIRC / FIRA INR 500  
Duplicate FIRC / FIRA INR 1000  

Inland Trade

  Charges Minimum (INR)
1. Letters of credit     
Commitment 0.25% per Quarter or part thereof 2000
Sight / Usance (upto 30 days) 0.25% flat 1500
Usance (30 to 90 days) 0.40% flat 2000
Usance (Over  90 days) 0.40% flat for first 3 months + 0.25% per additional month or part thereof 3000
Retirement 0.20% flat 1000
2. Amendments to LCs    
Financial same as Inland LC Issuance  
Non - Financial INR 1500   
LC Cancellation INR 1500  
Discrepancy fee per bill INR 2000  
3. Discounting    
LCBD / BD / Invoice Financing / PO Financing ( In addition to finance charges) INR 1000  
Negotiation of bills under LCs issued by us 0.25% flat 500
4. Collections    
Documentary Collection Inward 0.25% flat 2500
Documentary Collection Outward 0.25% flat 2500
Outward Bills Under Inland LC 0.25% + INR 1500 Scrutiny 3500
5. Other    
Follow up for overdue Bills (per follow up per bill) - Outward Collection Bills INR 500  
Dishonoured bills / document return charges INR 1000  

Miscellaneous


  Charges Minimum (INR)
Status Report (per report) INR 10000  
1. Swift / SFMS Charges    
LC Issuance INR 1500  
Amendments to LC INR 1000  
Other Swift Messages/Follow-ups/Tracers INR 750  
2. Courier    
Domestic INR 500  
International INR 1000  
Merchanting Trade Transaction INR 5000  
Follow up - Merchanting Trade Transaction (opposite leg) INR 500  
Any requests to other banks INR 1000  
X
X

Contact us

REGISTERED office:

IDFC FIRST Bank Ltd

KRM Tower, 7th Floor, No. 1,
Harrington Road, Chetpet,
Chennai - 600031, Tamil Nadu,
India

Corporate office:

IDFC FIRST Bank Ltd

Naman Chambers,
C-32, G-Block,
Bandra-Kurla Complex,
Bandra East, Mumbai - 400051,
India

X

For Media Contact

X