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Articles (10) and (11)- Personal Banking Services & Fees and Commissions Charged on them:

N 2901/2011 Effective from 28/4/2011
  1. 1.Relevant fees, charges and commissions applicable to personal customers have been specified in the Appendices to the Circular. Banks are not allowed to levy any other commissions, fees, charges or fines without Central Bank’s written approval. Banks are however free to reduce or exempt their customers from payment of certain fees and charges at their discretion.
  2. 2.Loans and insurance are separate products. Hence it should be a customer’s choice to select either to pay them together over the period of loan or to pay upfront. Banks should however explain to the customer properly and obtain his concurrence before charging him for the insurance.
  3. 3.List of charges and commissions apply to personal loans, car loans and personal overdrafts. Banks may continue to levy charges and commissions on credit cards as hitherto as no change has been proposed in the regulations.
  4. 4.If there are other important fees and charges applicable to certain segment of customers but left out in the Appendices, these may be submitted for consideration of the Central Bank.