Bank rate card
What does Indian Overseas Bank charge an exporter?
This is Indian Overseas Bank's published trade and forex rate card, reproduced head by head from the bank's own schedule dated w.e.f. 01st January 2025. 23 charge heads are published and 0 are not. The source document is linked at the foot of this page.
By Aaryan Kakani · · 3 min read
What does Indian Overseas Bank charge on an export transaction?
Every head below is reproduced from the schedule linked at the foot of this page. Amounts are as published; nothing has been converted, averaged or inferred, and charges are exclusive of 18% GST unless the schedule says otherwise.
| Charge head | What Indian Overseas Bank publishes |
|---|---|
| Inward remittance / export proceeds | Trade: 0.10% (min Rs 500, max Rs 2,500); non-trade: Rs 500 up to USD 50,000, Rs 1,000 above; individuals Rs 250; credit to EEFC Nil; return of funds USD 30 |
| FIRC, FIRA and e-BRC | FIRC and other certificates Rs 500 per certificate; eFIRC Rs 250 per certificate |
| Export bill regularisation (direct dispatch or advance received) | Docs sent directly to overseas buyer Rs 1,000 flat (+Rs 100 per additional SB, max 10 SBs; Nepal/Bhutan Rs 200/Rs 400); full advance received via IOB Rs 500 per bill, via other bank Rs 1,000 per bill (+Rs 100 per additional SB); EDF approval for bills directly dispatched by drawers Rs 500 per approval |
| Export bills on collection | 0.10% (min Rs 750, max Rs 10,000) + Rs 100 per additional SB + postage/courier at actual |
| Export bill purchase, discount or negotiation | Processing Rs 750 per bill (up to Rs 10 lakh), Rs 1,000 (Rs 10-50 lakh), Rs 1,500 (above Rs 50 lakh); + Rs 100/Rs 200 per additional SB |
| Extension of realisation period | Rs 1,000 (approval for extension of realisation due date by Bank/RBI) |
| Write-off or reduction in value | Self write-off Rs 1,000 per shipping bill |
| Crystallisation | Not stated |
| Return of an unpaid export bill | Rs 750 per bill |
| Export LC advising | Customers Rs 1,000; non-customers Rs 2,500; amendment Rs 600 / Rs 1,200 |
| Export LC confirmation | 75% of LC issuing charges |
| Overdue bill follow-up | Collection bills not realised by due date Rs 750 per quarter per bill; penal for delayed EDF / non-realisation on due date Rs 1,000 per bill; overdue purchased bills Nil |
| SWIFT | Payment messages Rs 500; LC amendments Rs 1,000; full-text LC/LG Rs 1,000; other messages Rs 500 |
| Courier | Actual |
What does Indian Overseas Bank charge on imports, guarantees and other forex services?
| Charge head | What Indian Overseas Bank publishes |
|---|---|
| Advance or direct import remittance | 0.25% (min Rs 750, max Rs 7,500) + SWIFT |
| Import bills on collection | Not under LC: 0.15% (min Rs 750, max Rs 10,000) with exchange; 0.25% (min Rs 750, max Rs 7,500) + CILE without; docs direct to importer Rs 1,000/1,500/2,000 by USD slab. Under LC: 0.15% (min Rs 750, max Rs 7,500) |
| Import LC issuance | Commitment 0.10% per quarter (min Rs 300) + usance 0.20% flat (sight/up to 30 days), 0.25% (up to 3 months), 0.25% + 0.20% per month beyond; + SWIFT Rs 1,000 |
| IDPMS / Bill of Entry | Non-submission of evidence of import Rs 250 per month per BOE; BoE extension / download of other-bank BoE Rs 500 each |
| Bank guarantee | Other guarantees: financial 0.15% per month (0.50% if <3 months), performance 0.10% per month (0.35%), other 0.20% per month (0.60%); + SWIFT Rs 1,000 |
| Other outward remittance | 0.075% (min Rs 250, max Rs 4,000) + SWIFT + correspondent charges |
| Forward contracts | Booking Rs 750 per contract; cancellation Rs 750 + swap charges; early delivery swap charges only |
| Commission in lieu of exchange | 0.10% (min Rs 500, max Rs 25,000) for export cases; 0.10% (min Rs 500, max Rs 15,000) for other transactions via FC accounts |
| Certificates, NOC and AD code letter | Certificates Rs 500; EDF waiver certificate Rs 750; attestation Rs 500 per form, invoices Rs 150; IEC bank certificate Rs 500; EDPMS AD-transfer request Rs 500 per SB; EDPMS/IDPMS outstanding report Rs 500 per year (max Rs 3,000) |
How does Indian Overseas Bank compare with the other banks?
Ordering is arithmetic on published figures across the 36 banks whose schedules could be re-checked against their source file, using the entry-tier charge a small-ticket exporter actually meets. It is not a view on which bank to use.
| Charge | Indian Overseas Bank | Where that sits |
|---|---|---|
| Export bill regularisation, per shipping bill | ₹1,000 | 18th cheapest of 29 banks that publish it |
| e-BRC or BRC | Not published | Left out of the ordering rather than scored as free |
| FIRC or FIRA issuance | ₹250 | 16th cheapest of 30 banks that publish it |
| Inward remittance, per credit | ₹500 | 24th cheapest of 30 banks that publish it |
| Export bills on collection, entry tier | ₹750 | 11th cheapest of 35 banks that publish it |
| SWIFT, per message | ₹500 | 13th cheapest of 36 banks that publish it |
Indian Overseas Bank does not sit in the cheapest five on any of the six heads measured here. A full annual figure cannot be built for this bank, because at least one of those heads is unpublished. See all 38 banks side by side.
What else does Indian Overseas Bank's schedule say?
GST extra. Landing page https://www.iob.bank.in/en/service-charges (same PDF also at /documents/d/guest/iob_service_charges_foreign_exchange_transactions_01012025). Later IOB revisions (LG/LC Inland 01.04.2025; general revision 01.04.2026) do not change this forex schedule. EDF approvals for directly dispatched bills Rs 500 per approval; merchanting trade Rs 6,000 per transport document.
Where does this rate card come from?
| Provenance | Detail |
|---|---|
| Schedule date, as the bank prints it | w.e.f. 01st January 2025 |
| Bank type | Public sector |
| Checked | 19 September 2026 |
| Source document | Open Indian Overseas Bank's published schedule |
The source document was re-downloaded from Indian Overseas Bank on 19 September 2026 and compared by SHA-256 against the copy these figures were read from. It matched exactly, which means the figures here are what the bank was publishing that day rather than a stale cache.
What should I read next?
- Every Indian bank's export charges, compared All 38 rate cards in one table.
- Which bank is best for e-commerce exporters? The same schedules read head by head for marketplace sellers.
- Which bank is best for B2B exporters? LC advising, collection, crystallisation and guarantees.
- FIRC and BRC guide for Indian exporters What each certificate is and when you need one.
Tired of chasing Indian Overseas Bank to close your shipping bills?
Bank charges are the visible cost of export banking. The hidden one is the hours spent matching settlements to shipping bills and chasing the bank to close them in EDPMS. Seasaw does that matching for you.
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Update history
- First published.