Last Updated on: 10/07/2025
Home >> Overseas Branches and Representative >> Colombo Main Branch
Code No.
502
Full Address
139, Main Street, Colombo - 11, Sri Lanka
P.B. No.
671
Gram
OVERSEBANK
Telex
-
Telephone
Country Head
Shri. Sonwalkar H.A Phone: +009411-5324411, Fax: +009411-2447900,
E-Mail: colomboch[at]iob[dot]in
Senior Manager
Office: 5324421 Mobile: +94762426414
Manager
Office: 5324425
Deputy Manager (Treasury)
Office: 5324420
Deputy Manager (Forex)
Office: 5324424
General Lines
Office: 0115324400
Fax
2447900
E-Mail
iobcolombo[at]iobnet[dot]co[dot]in
SWIFT CODE
IOBALKLC
Timings
Working Hours - Week Days 08:24 AM to 05:24 PM
Holiday
Saturday & Sunday
❱ Interest Rates – Loans & Advances
Interest Rates on Loans and Advances - Colombo
PARTICULARS
EXISTING RATE
MINIMUM
MAXIMUM
Export Bill Finance - Rupee Facilities
AWPLR/PLR
13.50%
Import Bill Finance - Rupee Facilities
14.50%
Lease Finance
NA
Lending to Medium Scale Industries (Upto 05 Years)
AWPLR/PLR (or) SOFR/COF + 0.50%
Trade
AWPLR/PLR (or) SOFR /COF
Residential Housing
Pawning
US Dollar Loans to Exporters
SOFR/COF + 0.50%
8.00%
TOD/Clean Advances
18.00%
Others
AWPLR/ PLR or SOFR 0.50%
Rupee Facilities Against Deposits (Demand Loan/CC)
Own Rupee Deposits
2% Over the Deposit Rate
Third Party Rupee Deposits
3% Over the Deposit Rate
Own Foreign Currency Deposits
PLR + 0.50%
Foreign Currency Facilities against Deposits (Demand Loan/CC)
Own FCY Deposits
Third Party FCY Deposits
❱ Interest Rate on Deposits
REVISED INTEREST RATES W.E.F 31.07.2025
❱ Services Charges
Pay Order Issuance
Upto Rs. 100,000
250.00
Rs. 100,000.00 - Rs. 1 Mio
750.00
Above 1 Mio
1,000.00
Minimum Balance Charges
Current A/C - Per Month
500.00
Savings A/C - Per Month
100.00
Cheque Return Charges
Outward Return
3,000.00
Inward Return
Balance Confirmation Charges
Normal Format
Specific Format
Standing Instructions
Per Instruction
Account Closure
Savings
Current
Duplicate Receipt Issuance
Duplicate Passbook Issuance
Fixed Charges-Applicable For Current Accounts And Cash Credit Accounts.
Half Yearly
1000.00
Stop Payment Charges
Per Instrument
2,000.00
Account Statement
Per Page
Cheque Book
Per Leaf
20.00
CEFTS & Slips
CEFTS - Per Transaction
Slips - Per Transaction
50.00
RTGS Charges
400.00
SERVICE CHARGES APPLICABLE FOR TRADE SERVICES
LETTER OF CREDIT
LC OPENING/EXTENTION
SIGHT
0.375% PER QUARTER(min USD 50/-)
0.75% PER QUARTER(min Rs. 10,000/-)
USANCE
0.75% PER QUARTER (min Rs. 10,000/-)
1% PER QUARTER (Min Rs. 10,000/-)
SWIFT CHARGES
USD 20/-
Rs. 4000/-
LC AMENDMENT
0.375% (min USD 50/-) of the amount enhanced
0.75% (min Rs. 10,000/-) of the amount enhanced
0.5% (min USD 50/-) of the amount enhanced
1% (min Rs. 10,000/-) - of the amount enhanced
LC BILL ACCEPTANCE
Free
LC BILL PAYMENT
0.25% (min USD 50/-)
0.25% (min Rs. 10000/-)
0.375% (min USD 50/-)
0.375% (min Rs. 10000/-)
DISCREPANCY CHARGES
USD.100/- ( Max USD 250)
EQLNT USD 100/- ( max. USD 250 EQLNT)
COLLECTION BILLS
LODGEMENT
INWARD USANCE BILL
0.35 % (min Rs.10000/-)
INWARD SIGHT BILL
COLLECTION BILL ACCEPTANCE
PAYMENTS
USD 50/-
EQLNT USD 50/-
0.25% (Min USD 50/-) + USD 50
0.35 % (Min USD 50/- EQLNT)+ USD 50 EQLNT
SHIPPING GUARANTEE, DOCUMENT ENDORSEMENT, TELEGRAPHIC TRANSFER
INVOICE ENDORSEMENT CHGS
0.25% form the Invoice value (Min LKR1500.00 EQLNT)
0.25% form the Invoice value(Min LKR 1500.00)
SHIPPING GUARANTEE CHGS
For 300% of invoice value-0.25% COMMISSION
(Min LKR 1500.00 EQLNT)
(Min LKR 1500.00)
TELEGRAPHIC TRANSFER IMPORT PAYMENTS
USD 25/-
0.35% (Min 8000.00)
EXPORTS
DETAILS
FCY
LKR
EXPORT LC ADVISING
CUSTOMERS
EQLNT Rs. 3500/-
Rs. 3500/-
Non CUSTOMERS
ADVISING OF AMENDMENT
EQLNT Rs. 1000/-
Rs. 1000/-
EQLNT Rs. 1500/-
Rs. 1500/-
BILLS RELAZATION
SIGHT BILLS COMMISSION
0.25% (min Rs. 1500/- EQLNT)
0.25% (min Rs. 1500/-)
USANCE BILLS COMMISSION
POSTAGE
USD 52
EQLNT USD 52
OVERDUE INTEREST
2%
SERVICE CHARGES APPLICABLE FOR REMITTANCE
INWARD REMMITTANCES
FCY REMITTANCE
USD 1 TO USD 500
USD 8
0.5% (Min 8000.00)
USD 501 TO USD 1000
USD 10
USD 1001 TO USD 1500
USD 15
USD 1501 TO USD 2000
USD 20
USD 2001 to USD 5000
USD 25
USD 5001 to USD 10000
USD 35
USD 10001 to USD 50000
USD 50
ABOVE USD 50000
USD 75
INR REMITTANCE
EFT-IOB BR IN INDIA
INR 10/- EQLNT
NEFT-OTHER BANKS IN INDIA
UP TO INR 100,000/- CHGS INR 20/- EQLNT
GUARANTEES
CHARGES
FINANCIAL AND BID BOND
COMMISSION
0.85% PER QUARTER+ VAT
Minimum 2 quarters for first issuance Minimum 1 quarter for extention
PERFORMANCE
0.56% PER QUARTER+ VAT
Concessional rate - For financial/performance/Bid bond guarantees backed by 100% cash/deposit margin, 25% of applicable commission to be collected
SERVICE CHARGES APPLICABLE FOR LOANS AND ADVANCES
1. Term Loans - Own
1.00% upfront
2. Term Loans - Syndication Through Arrangers
0.25% upfront
3. Working Capital Limits
0.20% p.a.
4. Demand Loan Against Deposits
LKR 1000.00 for loans below LKR 1 Mio
(Fresh & Renewals)
LKR 1500.00 for loans over LKR 1 Mio & below LKR 3 Mio
LKR 2500.00 for loans over LKR 3 Mio & below LKR 5 Mio
For Loans Over LKR 5 Mio @ 0.05%
Charges Exempted for Staff Loans
5. Cash Credit Against Deposits
for loans over LKR 5 Mio @ 0.05%
6. Temporary Overdrafts / Temporary Limits
LKR 1500.00 for loans below LKR 1 Mio
LKR 2000.00 for loans over LKR 1 Mio & below LKR 3 Mio
LKR 3000.00 for loans over LKR 3 Mio & below LKR 5 Mio
For Loans Over LKR 5 Mio @ 0.075%
Escrow Charges
Escrow Charges to act as the lead Bank in a Syndication
1.00% p.a.
Charges on CRIB Reports [Credit History/Credit Rating]
Consumer & Corporate
LKR 500.00 per report
Inspection Charges
Unit Visit Charges
Variable
Early Settlement Charges
Early Settlement of Loans
Within 3 years from the date loan granted - 3% on balance outstanding
Above 3 years and up to 5 years - 2% on balance outstanding
Above 5 years from the date loan granted - 1% on balance outstanding
Re-phasement of loans / Amendments to the original sanction terms
0.05% on the balance outstanding (for Term Loans) / limit (for Working Capital limits)