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Service Charges

Service Charges
(CARD RATES) w.e.f. 01.07.2023 
Import
Item SBI Seoul (Proposed Charges)

LC Opening Charge

 

 

 

 

LC opening Handling Charges

1.40% p.a. of LC Value (0.35% quarterly basis)
Min  KRW 25,000/- 
LC above USD 1 Mio: 50% of Normal Charges

 

USD 200.00

Processing Fee
(Back to Back LC)
0.25% of the LC Limit
Min  KRW 30,000/- 
Max. USD2,500.00 (KRW 2,500,000)
Increasing Credit Limit 1.40% p.a. of LC Value (0.35% quarterly basis)
Min  KRW 50,000/- 
LC above USD 1 Mio: 50% of Normal Charges
Extension of LC Period 1.40% p.a. of LC Value (0.35% quarterly basis)
Min  KRW 50,000/- 
LC above USD 1 Mio: 50% of Normal Charges
Revolving LC 1.40% p.a. of LC Value (0.35% quarterly basis)
Min  KRW 30,000/- 
LC above USD 1 Mio: 50% of Normal Charges
LC Amendment
(other than validity period or increase in LC value)
KRW 50,000/- or USD 50 whichever is higher per amendment
Discrepancy Fee KRW 80,000/- or USD 80.00 per discrepancy
Retirement of Bills under LC 0.25% on quarterly basis, Minimum KRW50,000/-
 
Inward Bills for Collection KRW50,000/- or USD50 which ever is higher
Export
Item SBI Seoul (Proposed Charges)
Documents handling/Scrutiny/checking charges for negotiating/discounting/forfaiting USD 100/-
Outward Collection Bills
(Both under LC & Not under LC)
Collection Charge KRW 2,50,000/- or USD 250( including handling charges)
Bills purchased/Discounted
Sight Bills
 
Usance Bills

Interest

upto 14 days 1M SOFR + 75 bps
less than 31 days 1M SOFR + 75 bps
less than 91 days 3M SOFR + 100 bps
less than 182 days 6M SOFR + 100 bps

Min Interest KRW 100,000 OR USD 100.00

Delayed interest Financing spread + 1.5%
Cable Negotiation charges USD 25.00
Reimbursement Commission USD 250.00
Postage/ Courier charges USD 45.00
Swift charges USD 30.00
Payment charges on realization of proceeds Actual recovered by other bank
LC Advising
Item SBI Seoul (Proposed Charges)
LC Transfer KRW 35,000 per transfer
Advising of LCs through SBI Through SWIFT: KRW 35,000 or USD 35.00
Through Mail: KRW 40,000 or USD 40.00
Advising of LCs other banks Through SWIFT: KRW 35,000 or USD 35.00
Through Mail: KRW 45,000 or USD 45.00
Advising Amendments of SBI LCs Through SWIFT: KRW 35,000 or USD 35.00
Through Mail: KRW 40,000 or USD 40.00
Advising Amendments of LCs other banks Through SWIFT: KRW 35,000 or USD 35.00
Through Mail: KRW 45,000 or USD 45.00
LC Confirmation charges 0.20% p.a of LC amounting Min USD 200.00
Buyer's/Suppliers Credit Handling Charges USD 150.00 / Buyer’s Credit
USD 250.00 / Supplier Credit
Other Trade Service
Item SBI Seoul (Proposed Charges)
Commission in lieu of Exchange KRW 50,000/-
SWIFT Charge Sight LC Open  KRW 50,000/- 
Usance LC Open KRW 55,000/-
LC Amendment  KRW 25,000/- 
General Postage KRW 45,000 or USD 45
Bank Guarantee
Item SBI Seoul (Proposed Charges)
Inland BGs Performance as well as Financial Guarantee 0.125% flat per month or part thereof (Broken days in a month will be treated as full month for recovery of commission.) Minimum USD 500.00
Minimum Guarantee Commission

Inward USD 250.00

Outward USD 500.00

Swift Charges USD 150.00
Deposit
Item SBI Seoul (Proposed Charges)
Annual Maintenance Charges NA
Minimum Balance KRW 100,000/-
Charges, if minimum balance not maintained(per quarter) KRW 15,000/-
Cash Handling Charge N.A.
Coin Handling Charge N.A.
Cheque Book Issue Charges N.A.
Cheque Return Insufficient funds N.A.
Cheque Return Technical reason N.A.
Account close N.A.
Inoperative account charges N.A.
Charges for exceeding debit entries in SB account (30 entries/quarter) N.A.
ATM card/ Pin replacement fee N.A.
Internet Banking duplicate password N.A.
Internet Banking hardware token N.A.
Duplicate statement KRW1,000/- per paper, Min. KRW 5,000/-
Duplicate Passbook Charges N.A.
Stop payment N.A.
Standing order Free
Standing orders to insufficient fund KRW 10,000/-
Banker’s report Deposit : KRW20,000
Loan: KRW50,000
Company report(current account) KRW:50,000
Balance Certificate KRW1,000/- per paper, Min. KRW 5,000/-
Old record copy KRW1,000/- per paper, Min. KRW 5,000/-
Swift copy for remittance N.A.
Overdraft in CA
(Interest Rate)
N.A.
Outward Remittance
Item SBI Seoul (Proposed Charges)
Banker Cheque/Cashier’s order N.A.
Draft INR N.A.
Indirect Remittance USD 10/-
INR Rates Deal rates - 60 paise +/- margin as per the market position
Inward Remittance
Item SBI Seoul (Proposed Charges)
Received through USD Chats N.A.

Received through Telegraphic Retail

 

Corporate

USD 25.00

 


USD 50.00

Collection of Cheques USD 0-100: KRW10,000
USD101-500: KRW20,000
USD501-1,000: KRW25,000
USD1,001-2,000:KRW30,000
USD2,001-to any:KRW40,000
DD Purchase KRW20,000 upto USD 1000