Deposit And Related Charges
Proposed Revised Service Charges (Exclusive of VAT and Government Levy on Digital Transactions)
(The applicable VAT (Value added Tax) and Govt Levy on digital Transaction to be collected during the collection of service charges)

Sr no. Item Revised/Proposed
TISS Remittance Remittance -TZS TZS 10,000
(Only for A/c holders - Not permitted for non a/c holders) Remittance -USD USD 10
Other Outward Remittance 1USD up to 6,000 USD 15
USD 6,001 – 10,000 USD 30
Above USD 10,000 @ 0.35% Maximum USD 75
Tracer Charges Irrespective of Amount USD 30
Recall back funds charges Irrespective of Amount USD 30

Note:

  • The above remittance charges are applicable for both BOITL & Other Banks.
  • For remittance in other than TZS & USD, equivalent charges as per USD table based on the exchange rate of the remitting currency with USD as on the date of transaction will be leviable.
  • In case of cross currency remittance, exchange rate as on the date of transaction will be applicable.
  • Outward Remittance (Allowed only up to USD 6,000) for NON Account Holder, Charges will be levied USD 40 per Occasion

Items Revised/Proposed
From inside Tanzania Free
From outside Tanzania : as under
For Current /Overdraft Accounts 0.35% of inwards remittance Minimum USD 18 Maximum USD 70.
For Saving Accounts
USD 0 up to USD 100 Free
USD 101 up to USD 500 USD 10
Above USD 500 USD 18

Items TZS A/c USD A/c
Saving Account :-
Cash withdrawal per day –Free of charge, up to amount TZS 25 Mn USD 2000
Cash withdrawal charges over USD 2,000 to USD 5000 per day ---- 0.25% of withdraw amount
Cash withdrawal charges over USD 5,000 per day ---- 0.60% of withdraw amount
Cash withdrawal charges over TZS 25 Mn per day 0.10% of withdrawal amount ----
Cash Deposit charges over USD 5,000 per day ---- 0.60% of deposited amount
Cash deposit charges for small currency USD notes ranging from USD 1 to USD 20, irrespective of amount deposited (i.e. both for below and above USD 5,000) ---- 12% (Min USD 1) of the aggregate small currency amount
Current Account:-
Cash withdrawal per day –Free of charge, up to amount TZS 25 Mn USD 5000
Cash withdrawal charges over USD 5,000 per day ---- 0.60% of withdrawal amount
Cash withdrawal charges over TZS 25.00 Mn per day 0.15% of withdrawal amount ----
Cash deposit charges over USD 10,000 per day ---- 0.60% of deposit
Maintenance of minimum balance:-
For Saving Account-Without Cheque Book Facility TZS 50,000 USD 50
With Cheque Book Facility TZS 200,000 USD 200
For Current Account TZS 200,000 USD 200
Minimum balance charges (in case of non-maintenance of minimum balance)
Saving Account - Without cheque book TZS 900 p.m USD 4 p.m
With cheque book TZS 3600 pm USD 15 p.m
Current Account TZS 20,000 pm USD 15 p.m

Particular TZS ACCOUNTS USD ACCOUNTS
Stop Payment Instructions TZS 35,000 USD 28
Regular statement of a/c (Monthly) Free Free
Interim /Additional Statement TZS 1,500 per page USD 1.50 per page
Issue of bankers’ cheque TZS 40,000 USD 30
Cancellation of bankers cheque/DD TZS 20,000 USD 15
Issue of Duplicate Payslip/Demand Draft/Duplicate TDR. TZS 30,000 USD 20
Security applying charges (T-Bills & T-Bonds) 100,000 Equivalent to TZS
Issue of Balance certificate (Saving Account) TZS 20,000 Equivalent to TZS
Issue of Balance certificate (Current Account) TZS 50,000 Equivalent to TZS
Signature verification and Photo Attestation charges for Domestic A/c Holders TZS 10,000 Equivalent to TZS
Verification of Documents such as KYC Documents along with verification of Photo and Signature of Customer Mentioned account with Bank of India- in India /Overseas TZS 25,000 Equivalent to TZS
Savings bank customer Identification card- One time TZS 20,000 USD 10
Dormant a/c Activation Per Activation Fees Individual TZS 5,000
Corporate TZS 12,000		 Individual USD 3
Corporate USD 6
Account Freezing/un freezing Charges Free Free
SMS Alert facility Free Free
Email Alert Facility Free Free
Monthly Statement on Registered Email Free Free
Balance Inquiry (Over the Counter) Free Free
Charges for Deletion of Decease Person Name from the Saving Account Free Free
Charges for Addition/modification Account such as Change in respect of Corporate A/c TZS 20,000 USD 10
Updating of Mobile No. in A/c (SB,CD,OD) Free Free
Change /Modification in Address (SB,CD,OD) Free Free
Issuance of No Dues Certificate for Non-Borrowers TZS 10,000 USD 7
Ledger Folio Charges per Folio (40 lines per Folio) only for Current and Overdraft Accounts TZS 6,000 per Folio USD 4 per Folio
Postages/Courier Charges Inland/Foreign TZS 30,000 or actual charges whichever is higher Equivalent to TZS

Particular TZS ACCOUNTS USD ACCOUNTS
Within walking distance-1 km TZS 70,000 USD 45
Far off distance –more than 1 km TZS 95,000 USD 65
Cheque returned charges –financial reasons(inward/outward) TZS 70,000 USD 55
Inward/outward cheque collection -USD -- 0.60% Min comm. USD 18 postages USD 90

Category Minimum SMS Alert Charge (To be recovered quarterly upfront) Number of Free SMS on paying SMS Alert charge SMS Alert charge per SMS beyond the free SMS (To be recovered in monthly basis)
Individual Free of cost No Limit Free of cost
Corporate Free of cost No Limit Free of cost

Dormant a/c Activation– Per Activation Fees

Particular TZS ACCOUNTS USD ACCOUNTS
Individual TZS 5,000 USD 3.00
Corporate TZS 12,000 USD 6.00

Particulars TZS ACCOUNTS USD ACCOUNTS
Savings bank customer identification card- One time TZS 10,000 USD 7
Cash Withdrawal Charges
Cash withdrawl per day –Free of charge, upto amount TZS 25 Mn USD 2000
Cash withdrawal charges over USD 2,000 to USD 5000 per day -- 0.25% of withdraw amount
Cash withdrawal charges over USD 5,000 per day -- 0.60% of withdraw amount
Cash withdrawal charges over TZS 25 Mn per day 0.10% of withdrawal amount --
Cash Deposit Charges
Cash deposit charges over USD 5,000 per day -- 0.60% of deposited amount
Cash deposit charges for small currency USD notes ranging from USD 1 to USD 20, irrespective of amount deposited (i.e. both below and above USD 5000) -- 12% (Min USD 1) of the aggregate of small currency amount
Cheque book charges 25 leaves TZS 20,000 USD 15
Account closure charges TZS 35,000 USD 25
Maintenance of minimum account balance
Without cheque book TZS 50,000 USD 50
With cheque book TZS 200,000 USD 200
Minimum balance charges (in case of non maintenance of minimum balance)
Without cheque book TZS 900 p.m USD 4 p.m
With cheque book TZS 3,600 pm USD 15 p.m

Particulars TZS ACCOUNTS USD ACCOUNTS
Ledger Folio Charges per Folio (40 lines per Folio) TZS 6,000 per Folio USD 4 per Folio
Cash withdrawl per day –Free of charge, upto amount : TZS 25 Mn USD 5000
Cash withdrawal charges over USD 5,000 per day -- 0.60% of withdraw amount
Cash withdrawal charges over TZS 25.00 Mn per day 0.15% of withdrawal amount --
Cash deposit charges over USD 10,000 per day -- 0.60% of deposited amount
Cash deposit charges for small currency USD notes ranging from USD 1 to USD 20, irrespective of amount deposited (i.e. both below and above USD 5000) -- 12% (Min USD 1) of the aggregate of small currency amount
Cheque book charges 50 leaves TZS 42,000 USD 27
Account closure charges TZS 85,000 USD 70
Maintenance of minimum account balance TZS 500,000 USD 500
Minimum balance charges TZS 20,000 pm USD 15 p.m

Particulars Revised
Proposal processing charges :-
New Overdraft/Term Loan/Demand Loan 1.50% of sanctioned limit (Regular Limit – 1.50% for 12 Months)
TOD/TOL/ADHOC Proportionate to 1.50% for TOL/TOD/ADHOC Period minimum USD 60
New NFB BG/LC Facility 1.50% of sanctioned limit (Regular Limit – 1.50% for 12 Months)
Review of Overdraft Limit 1.50% on entire sanctioned amount
Review of
Term Loan
Demand Loan
Personal Loan
Vehicle Loan Loan Against Property Etc.		 0.15% maximum USD 600 or TZS 1.20Mn on the reviewed amount and 1.50% on the additional Term Loan /Demand Loan amount.
Schematic Lending up to 36 months/Staff Loan NIL
Prepayment charges 2.50% of the prepaid loan amount
Documentation charges for New Overdraft Limit/Term Loan/Demand Loan/Non Fund base Limit Actuals as per advocate Bill + 0.30% handling charges

1) No Documents charges would be applicable for TOD/TOL/ADHOC Limit, however actual expenses if any to be recovered.
2) Documentation charges also NOT Recoverable for the Loan/Overdraft against FDR.
Charges for Amendments/Modification of Sanction Terms 0.25% on the sanctioned limit

We enumerate the illustrative instances of Modification in Terms and Conditions to be effected at the request of the Borrower where this charge will be levied:-

1) Substitution of Collateral Securities/Personal Guarantee
2) Release of Personal Guarantee/Collateral Security.
3) Interchangeability of limits.
4) Change in project/items of Machinery
5) Ceding of charges on assets(Pari-Passu)
6) Restructuring, Rephasement of Loans/ Deferment of Loan installments.
7) Approvals for mergers & amalgamations.
8) Any other miscellaneous credit related approvals.
Revalidation of Sanction 25% of Applicable PPC Charges on Overdraft Limit/Term Loan/Demand Loan
Lead bank Charges USD 1000 or equivalent in TZS per annum/one time
Fee for Opening Escrow/TRA A/cs (Trust and Retention A/Cs) Where We are Lead bank : Nil
We are don't Lead Bank:
USD 500 or equivalent in TZS per annum/one time
Charges for Supplying copies of Loaning Documents to Customer First instance : Free
USD 10 or equivalent in TZS for further requirement
Non/Delayed Submission of Audited Financial Statements of the Company OR wherever applicable USD 100 or equivalent in TZS per month or part thereof

NOTE: Audited Financial statements of the firm/company within 6 months from closure of Financial Year or as approved by TRA for the relevant year
Inspection charge TZS 50,000 or equivalent to USD per visit /inspection or at least once in quarter whichever is higher.

NOTE:
1) Out of Pocket Expenses to be recovered additionally along with regular inspection charges wherever applicable
2) Project Monitoring Inspection Charges/Technical Due Diligence Inspection charges: Considering the fact that this inspection is proposed for safeguarding banks Interest, normal inspection charges besides travelling, boarding/lodging expenses are to be recovered from the borrower.
Issuance of No objection certificate (NOC) USD 100 or equivalent in TZS
1st party/3rd party Overdraft/Loan against deposit of our Bank (BOITL) Waiver of Processing & Documentation charge
Overdraft/Term Loan/Demand Loan Conversion Charges (Currency Conversion) For Overdraft account 0.50% of Sanction Limit.
For Term Loan/Demand Loan 0.50% of O/s Amount
Earmarking of Limits USD 500 or equivalent in TZS per annum
Non Compliance of Sanction terms/Commitment charges 1.00% additional Penal Interest to be charge till compliance of Sanction terms

NOTE :

  • Over and above the charges, the applicable VAT (Value added Tax) to be loaded while levying the service charges.
  • All out of Pocket expenses like courier charges, Swift charges to recover additionally/separately.
  • Staff eligible for staff concession such as Proposal Processing charges/Documents Charges/Inspection Charges/ CIB Charges are exempted from service charges except out of pocket expenses (swift charges/postage etc.)
  • 50% of proposal processing charges will be recovered upfront from the Applicant at the time of submission of Application.

Particular USD Facility TZS Facility
Upto TZS 20 Mn/USD 10,000 (Only for new and additional Limit. Review -No charge) USD 5 TZS 5,000
Over USD 10,000 to USD 50,000/
Over TZS 20 Mn upto TZS 100 Mn		 USD 10 TZS 20,000
Over USD 50,000/TZS 100 Mn USD 50 TZS 100,000
D&B search for non Borrower, on request. USD 50 TZS 100,000
Charges for Furnishing copy of Credit Information report obtained from CIC USD 10 TZS 20,000

Particular
Guarantee Commission 1.35% per quarter or part thereof minimum for one quarter.
Guarantee against 100% cash margin 50% concession on the above rate
Swift Charges As Applicable
Postages As Applicable
Revert of Guarantee before Expiry Minimum 1 Qtr BG Commission to be recovered for part of quantum of full guarantee commission to be recovered
Closure of Guarantee After Expiry of Claim Period Nil
Invoke of Guarantee USD 200 or equivalent in TZS


A. Financial Guarantees :-

  • 1. In favour of Customs/Excise/Tax Authorities towards tax/Duties payment Etc.
  • 2. Favouring Courts for Release of Amounts.
  • 3. For Guaranteeing Loan payments.


B. Performance Guarantees:-

  • 1. In lieu of earnest money deposit
  • 2. In lieu of tender deposit
  • 3. In lieu of security deposit
  • 4. To obtain advance payments (generally exports)
  • 5. To obtain mobilization advance (generally domestic)
  • 6. Towards Direct/indirect taxes to govt. in respect of specific transaction
  • 7. For Direct/indirect taxes disputes with tax Authorities.
  • 8. For payment for supplies/services made /rendered
  • 9. For Securing retention amount
  • 10. For Bidding/tendering for Project Contacts
  • 11. For Performance in terms of any agreed contact.


Note: - No processing charges or documentation charges are to be levied in case of Casual BG limits issued against 100% or more cash margin.

Particular
LC opening charges 1.35% per quarter +SWIFT charges USD 75/-
Against 100% cash margin 50% concession on the above rate i.e. 0.67% per quarter +SWIFT charges USD 75/-
LC Amendment Charges Per amendment 0.40% of LC amount (minimum USD 60 and Maximum USD 325) +SWIFT charges USD 30 (Same for LC against 100% cash margin)
Acceptance of bills under LC 0.60% of Bill amount Min USD 30 Maximum USD 180
Retirement of bills under LC 0.60% of Bill amount Min USD 30 Maximum USD 360
Inward Bills for Collection 0.30% of Bill amount minimum USD 150

Particular
Negotiation of Bills under LC 0.60% of Bill amount Minimum USD 30 Maximum USD 360
Confirmation of Export LC 0.90 % per quarter +SWIFT charges USD 30/-
LC Advising Charges USD 150
Export Bills for Collection 0.60% of Bill amount Minimum USD 30 Maximum USD 360.
Charges for Certifying invoices subsequent to negotiation USD 10 Per Invoice
Clean payment Received under LC USD 100 per occasion
Advice of transfer in transferable LC USD 100 per advice of transfer and acceptance commission at 0.30% Minimum USD 100
 
LATEST NEWS
View All
IMPORTANT LINKS
View All