How much EMD is charged
EMD is usually 10% of the reserve price of the lot. On a ₹50 lakh reserve, that's ₹5 lakh payable before the auction date.
It is paid online via NEFT/RTGS or bank challan to the bank's designated account mentioned in the auction notice.
KYC and portal registration
Bidders must register on the e-auction portal (eBKray, MSTC, C1 India, or the bank's own) and upload PAN, Aadhaar, address proof and photograph. A digital signature certificate (DSC) may be required for high-value lots.
When EMD is refunded
- Losing bidders — refunded within 3–7 working days of auction closure.
- Auction cancelled or postponed by the bank — refunded to all participants.
- Winning bidder — EMD is adjusted against the 25% deposit due on the same day as the auction.
When EMD is forfeited
- Winning bidder fails to pay the 25% (less EMD) on auction day.
- Winning bidder fails to pay the remaining 75% within 15 days (extendable to 90 with penalty by bank consent).
- Any misrepresentation in KYC or bidder ineligibility surfaces later.
Frequently asked
Can I use a bank guarantee instead of cash EMD?
Some auction notices allow it, but most PSBs insist on RTGS. Read your specific notice.
Do I earn interest on EMD?
No. EMD sits in a non-interest-bearing account and is returned at the same principal amount.