Bank guarantee commission calculation

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(Querist)


22 September 2012

Sir,
We have taken Bank Guarantee of Rs.2892000 for 10 years. As per bank circular BG commission charges 0.30% per month. Bank is charging the commission on full amount. But sum bank charge the commission per thousnd amount, i.e. 2892000/1000*0.30 per month amount is Rs. 867.60. It is the correct calculation or not. If it is correct, inform if any RBI Circular or guidline please.


RAMESH KUMAR VERMA (Expert)


07 September 2013

the amount calculated by mine and you are same .

if need any clarification put up RTI LETTER, ADDRESSED TO RBI.

eminent expert please also reply ...



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