|
The Central Bank of Nigeria (CBN) Guide to Bank Charges
(Bankers Tarriff) effective January 1, 2004. |
Continued from Page 1
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SECTION 1: INTEREST OF DEPOSITS
|
Description |
Rates |
1. Current Accounts in credit balance |
Negotiable |
2. Savings and Deposit Accounts |
Negotiable |
SECTION 2: INTEREST RATES/LENDING FEES
|
Description |
Rates |
|
|
INTEREST RATES |
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1 |
Additional Interests (on authorised excess) |
Negotiable |
|
2 |
Unauthorised OD, Drawing against Uncleared Effects. (Whether within authorised limit or not) |
Negotiable |
|
3 |
Warehousing facility |
Negotiable |
|
4 |
Equipment Leasing |
Negotiable |
|
5 |
Discountable instruments e.g. Bankers Acceptances, Commercial Papers, Promissory Notes, Etc |
Negotiable |
LENDING FEES |
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|
6 |
Facility Restructuring Fee |
Negotiable, Subject to a maximum of 0.25% flat |
|
7 |
Processing/Renewal fees |
|
a) Corporate Bodies |
Negotiable, subject to a maximum of 0.25% flat |
|
b) Individuals |
Negotiable, subject to a maximum of 0.25% flat |
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NOTE: Chargeable for all requests granted whether fresh or renewed. The charge applies each time an excess id granted but only for the excess figure or amount of the increase No charges for requests declined. |
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|
8 |
Processing fee for consent for share of security |
Negotiable subject to a maximum of 0.25% of amount of facility |
|
9 |
Late Repayment of Loan Facility |
1% flat per month on unpaid instalment in addition to charging current rate of interest on outstanding (without prejudice to the provisions of the prudential Guidelines on the Limitation of accruals) |
|
10 |
Commitment Fees |
Negotiable, subjects to a maximum of 1% flat of the amount |
|
11 |
Non-Drawing Fees (for consortium lending) |
Negotiable, subjects to a maximum of 10% flat of the amount |
|
12 |
Management fees |
Negotiable |
|
13 |
Advisory/Consultancy fees |
Negotiable |
|
INTER-BANK BORROWING RATES |
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14 |
Overnight/Call Money |
Negotiable |
15 |
Tenured |
Negotiable |
17 |
Management Fee |
Negotiable |
18 |
Commitment Fee |
Negotiable |
19 |
Appraisal/Renewal Fee |
Negotiable, subject to a maximum of 0.25% flat |
20 |
Commission Chargeable for Underwriting of Debentures |
Negotiable |
21 |
Participation Fee to be shared by Banks |
Negotiable |
SECTION 3: COMMISSION ON TURNOVER
|
Descriptions |
Rates |
|
1 |
COT applies to all debit transactions. It is chargeable on all instruments and on all renewals and relievers thereof, including discountable instruments such as Bankers Acceptances, Commercial Papers, Promissory Notes, etc. |
Negotiable Subjects to a maximum of N5 per mille |
|
2 |
Debits representing transfers to other accounts in the same name, in the same branch or at another branch of the same bank |
Free |
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COSTS OF CHEQUE BOOK |
||
3 |
Cheque Books |
Full recovery of cost plus stamp duties |
4 |
Counter Cheque |
N200 per leaflet |
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