Purchase / Discount of Bill / Cheques

Purchase / Discount of Bill / Cheques (Local)

Purchase / Discount of Bill / Cheques (Outstation)

Note

• Charges plus postage
• If a bill purchased / discounted is returned unpaid, interest @16.5 % as applicable in overdraft facility is charged from the date of purchase/discount till the date of adjustment.
• If the bill is paid beyond the due date/notional due date i.e 15 days, interest @16.50% is charged from the due date till the date of realization.
• In addition to the above, collection charges and other out of pocket expenses as specified in Chapter – 1 on commission on collection are recovered.
• Notional Due Date is the Expected Date of Realization (15 days)
• In addition to above charges Service tax applicable as per rules