S.N.

Parameter

Scheme Guidelines

1.

Eligibility

a) The scheme is available to new as well as existing customers not enjoying any credit limits(except point b) and falling under below categories:

1. Exporter/Importer.

2. Customers doing frequent Foreign Outward Remittance.

b) The clients who are only taking loan against 100% deposits can also be offered this product, provided they are not enjoying any other credit limits (including forex limits) with our bank. For Example: LC issuance against 110% margin.

2.

Usage of account

Normal Business transactions in India

Bonafide Trade related Export/Import/Remittances Transactions

3.

Operational Guidelines

1. The existing current account can be migrated to NEW SCHEME at the request of the customer without changing the account number.

2. The customer can be on boarded in any of the schemes any time. Migration between schemes will be applicable from next month, though the same can be entered in Finacle on any day of the month.

3. Periodicity for Calculation of Avg. Monthly Balance will be 16^th of previous Month to 15^th of Current month.

4. For new/converted accounts Average monthly balance will be counted from 16^th of next month in case of MAB.

5. Existing account holders can also choose to opt any of the 3 variants.

6. Concession approved to existing customer will be discontinued and charges as per UTCA scheme will be applicable on moving to UTCA scheme.

7. The average balance of all the current accounts will be considered to categorize customers into different variant. (Ex: If customer maintains UTCA account, other current account and EEFC account, while categorizing into different variant and levying charges average balance of all the three accounts will be considered.)

4.

Features

The account will have three variants on basis of Monthly Average Balance (MAB).

Other conditions:

(1) Out of Pocket Expenses like SWIFT/Postage etc. will be charged extra as per extant circular on service charges relating to FOREX transactions.

(2) The charges are excluding the applicable tax/Cess/GST/ Currency conversion taxes etc.

(3) In case of first variant minimum and maximum charges will be as per the forex service charges circular and will not be reduced. In other variants standard charges are to be taken for each transaction irrespective of the amount and no minimum or maximum charges are applicable.

(4) The remittance towards capital account transactions, viz; ECB repayments, remittance under ODI etc. is outside the purview of this product.

(5) Additional benefits in form of concessional General banking charges are as applicable to Union Classic Current Account-I for variant 1 and Union Classic Current Account-II for other variants 2 to 3.

(6) For all transactions, commission in lieu of exchange is to be charged wherever bank is not earning exchange margin and as per circular on Forex service charges.

(7) No Superfine exchange margin permissible. Minimum exchange margin will be 5 paisa. However, Approval of concession in exchange margin without any restriction on size of transaction and amount of turnover vests with committee of GMs comprising of GM (Domestic FX Business) and GM (Treasury).

5.

Penalty-Non maintenance of MAB/ Turnover

It is proposed that following charges per month shall be charged as penalty in case the MAB/turnover falls below the stipulated minimum balance/turnover. (No separate penalty as per UCCA scheme)

*Non maintenance of MAB for three months in any FY (continuous or otherwise) will lead to withdrawal of concessions/scheme benefits and standard charges will apply for all transactions. Further, the customer will not be able to use “Union Trade Current Account” scheme benefits in that FY. Hence, his account will be treated as general current account for rest of the FY.

(Moreover, there will be no effect on salary accounts, which can be continued)

6.

Other Benefits

There are bundled offerings to the clients in form of:

a. ‘Salary accounts - USSA’ to the employees of Companies/Firms.

b. SBHNI account to the Directors /Promoters /Partners /Proprietors.

c. Mutual Funds/ Insurance Products will be offered to above mentioned saving account holders.

d. Government Schemes like Atal Pension Yojna, Pradhan Mantri Suraksha Bima Yojna, Pradhan Mantri Jeevan Jyoti Bima Yojna, Sovereign gold bonds, Sukanya Samriddhi Yojna, National Pension Schemes etc. will be offered to employees as bundled product.

e. Locker/ Retail loans with certain concessions to employees as per USSA/ SBHNI scheme.

Particulars

Variant 1

TCA Basic

Variant 2

TCA Gold

Variant 3

TCA Platinum

Inward Remittance

(Trade /Non Trade)

Rs. 100/-

Free

Free

Advance Import Remittance

50% of standard charges

Min. 1000

Max. as per transaction type based on Forex service charges circular

1000

500

Direct Import Remittance

1000

500

 Import Bill on Collection (Non LC)

1000

500

Import Bill under LC (LC on 110% margin only)

2000

1000

Foreign Outward Remittance (Non Import)

50% of standard charges (i.e. 0.0625% with Min. 300, Max. Rs.5000)

1000

500

Export Bill on Collection

(LC or Non LC)

50% of standard charges (i.e. 0.05% with Min. 750, Max. Rs. 4500 per Bill)

1000

500

Export Bill for Regularization (Export Against Advance Remittance or Bills sent directly by customer)

50% of standard charges

(i.e. 0.025 % for payment through our bank with Min. 500, Max. Rs. 2500)

(i.e. 0.05 % for payment through other AD with Min. 500, Max. Rs. 4500)

500

300

Export LC Advising

50% of standard charges i.e. Rs. 500 per LC

500

300

e-FIRC

300

300

Free