Immediate credit of local as well as outstation cheques upto Rs. 15000/- (as per RBI guidelines from time to time) is provided to the individuals (personal customers) who are maintaining satisfactory accounts. However, the customers will have to bear usual service charges as well as the postal charges. In the event of cheques being returned unpaid, the customer will have to pay interest for the period for which funds utilised.

All cheques (local and outstation) deposited by the customers are cleared by the Bank as follows: -

HIGH VALUE CLEARING

This facility is available for the clients of selected branches at designated centres. Cheques of high value (of not less than Rs. 1 lac per instrument) are cleared o­n the same day.

LOCAL CLEARING

Cheques are cleared normally o­n the third working day, depending o­n the centre subject to depositing of the cheques/instruments in time.

NATIONAL CLEARING

Cheques drawn o­n Metropolitan centres listed in national clearing are cleared in 8 days (Monday to Monday).

All cheques drawn o­n other centres are cleared in 14 days.

The Bank will credit the proceeds of an outstation cheque within the following time norms

- State Capital other than North Eastern States & Sikkim - 10 working days

- Other centres - 14 working days

If the Bank fails to do so, interest will be paid at the rate applicable for appropriate tenure of fixed deposit for the period of delay beyond the stipulated days mentioned above. Further, if the delay is abnormal then penal interest at the rate of 2% above fixed deposit rate applicable will also be paid.

Customers are requested to deposit their cheques within the stipulated time frame at the branches.