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Tariff and Rates

Deposit (Savings, Current account)

In Mauritian Rupees

Effective date: 28 April 2020
Account Type
Interest rate per annum
Savings Account

0.20% p.a.

Applicable for a minimum balance of Rs.5,000.

Savings Plus Account

(Available to AssetVantage customers only)

0.25% p.a.

Applicable for a minimum balance of Rs.5,000.

Current Account
0.00%

Call Deposit Account

(Applicable to existing accounts only. New accounts not offered)

0.20% p.a.

Applicable for a minimum balance of Rs.25, 000.

Effective date: 28 April 2020
Account Type
Savings Account
Interest rate per annum

0.20% p.a.

Applicable for a minimum balance of Rs.5,000.

Account Type

Savings Plus Account

(Available to AssetVantage customers only)

Interest rate per annum

0.25% p.a.

Applicable for a minimum balance of Rs.5,000.

Account Type
Current Account
Interest rate per annum
0.00%
Account Type

Call Deposit Account

(Applicable to existing accounts only. New accounts not offered)

Interest rate per annum

0.20% p.a.

Applicable for a minimum balance of Rs.25, 000.

In Foreign Currencies

Applicable for a minimum balance of 2,000 units

Effective date: 31 July 2020

Foreign currency
Abbreviation
Interest rate per annum
South African Rand
ZAR
1.20%

Chinese Yuan

CNY
0.15%
US Dollars
USD
0.00%
Pound Sterling
GBP
0.00%
Hong Kong Dollar
HKD
0.00%
Australian Dollar
AUD
0.00%
Euro
EUR
0.00%
Canadian Dollar
CAD
0.00%

Applicable for a minimum balance of 2,000 units

Effective date: 31 July 2020

Foreign currency
South African Rand
Abbreviation
ZAR
Interest rate per annum
1.20%
Foreign currency

Chinese Yuan

Abbreviation
CNY
Interest rate per annum
0.15%
Foreign currency
US Dollars
Abbreviation
USD
Interest rate per annum
0.00%
Foreign currency
Pound Sterling
Abbreviation
GBP
Interest rate per annum
0.00%
Foreign currency
Hong Kong Dollar
Abbreviation
HKD
Interest rate per annum
0.00%
Foreign currency
Australian Dollar
Abbreviation
AUD
Interest rate per annum
0.00%
Foreign currency
Euro
Abbreviation
EUR
Interest rate per annum
0.00%
Foreign currency
Canadian Dollar
Abbreviation
CAD
Interest rate per annum
0.00%

Interest for all of the above accounts is calculated and accrued on a daily basis on the close-of-business balance. Interests are credited half yearly in June and December.

Fixed Deposits

In Mauritian Rupees

Applicable for a minimum balance of Rs.30, 000

Effective date: 20 October 2020

Period

New And Renewal of Fixed Deposits

Interest rate per annum and payable at maturity

12 months 0.35%
24 months 0.90%
36 months 1.05%
48 months 1.30%

Applicable for a minimum balance of Rs.30, 000

Effective date: 20 October 2020

Period
12 months

New And Renewal of Fixed Deposits

Interest rate per annum and payable at maturity

0.35%
Period
24 months

New And Renewal of Fixed Deposits

Interest rate per annum and payable at maturity

0.90%
Period
36 months

New And Renewal of Fixed Deposits

Interest rate per annum and payable at maturity

1.05%
Period
48 months

New And Renewal of Fixed Deposits

Interest rate per annum and payable at maturity

1.30%

Renewal Fixed Deposit

Interest rate per annum

Period

Interest payable monthly

Interest payable quarterly

Interest payable at maturity

 

1,3,6,9 months 0.00%
0.00%
0.00%
18 months 0.00%
0.00%
0.35%
37 months 0.00%
0.00%
1.05%
60 months 0.90% 0.95% 1.40%

Renewal Fixed Deposit

Interest rate per annum

Period
1,3,6,9 months

Interest payable monthly

0.00%

Interest payable quarterly

0.00%

Interest payable at maturity

 

0.00%
Period
18 months

Interest payable monthly

0.00%

Interest payable quarterly

0.00%

Interest payable at maturity

 

0.35%
Period
37 months

Interest payable monthly

0.00%

Interest payable quarterly

0.00%

Interest payable at maturity

 

1.05%
Period
60 months

Interest payable monthly

0.90%

Interest payable quarterly

0.95%

Interest payable at maturity

 

1.40%

Fixed deposit interest is calculated on a daily basis at applicable rate on deposit amount. Interests are then credited monthly, quarterly or at maturity as applicable.

Interest rates above are:

  • Per annum.
  • Fixed for the duration of the deposit.
  • All term deposits with instruction set as “auto–renewal” will be renewed at prevailing rates.

In Foreign Currencies

Applicable for minimum balance as follows:
USD and GBP 10,000 units 
AUD and CAD 15,000 units 
HKD, CNY and ZAR 30,000 units
Applicable for minimum balance as follows:
USD and GBP AUD and CAD
10,000 units  15,000 units 
USD and GBP HKD, CNY and ZAR
10,000 units  30,000 units
Effective date: 28 September 2020
Foreign Currency Abbreviation
3 months 6 months 12 months
US Dollars* USD 0.05% 0.15% 0.15%
Pound Sterling  GBP 0.00% 0.00% 0.00%
Canadian Dollar CAD 0.00% 0.00% 0.14%
Hong Kong Dollar HKD 0.00% 0.20% 0.30%
Chinese Yuan CNY 1.20% 1.40% 1.50%
Australian Dollar AUD 0.00% 0.00% 0.00%
South African Rand ZAR 1.85% 1.90% 2.40%
Effective date: 28 September 2020
Foreign Currency US Dollars*
Abbreviation
USD
3 months 0.05%
6 months 0.15%
12 months 0.15%
Foreign Currency Pound Sterling 
Abbreviation
GBP
3 months 0.00%
6 months 0.00%
12 months 0.00%
Foreign Currency Canadian Dollar
Abbreviation
CAD
3 months 0.00%
6 months 0.00%
12 months 0.14%
Foreign Currency Hong Kong Dollar
Abbreviation
HKD
3 months 0.00%
6 months 0.20%
12 months 0.30%
Foreign Currency Chinese Yuan
Abbreviation
CNY
3 months 1.20%
6 months 1.40%
12 months 1.50%
Foreign Currency Australian Dollar
Abbreviation
AUD
3 months 0.00%
6 months 0.00%
12 months 0.00%
Foreign Currency South African Rand
Abbreviation
ZAR
3 months 1.85%
6 months 1.90%
12 months 2.40%
*USD Interest rates applicable depending on deposit amount
USD Rates
3 months
6 months
12 months
USD10,000 to USD50,000
0.05% 0.15% 0.15%
Above USD50,000 to USD100,000
0.10% 0.20% 0.20%
Above USD100,000
0.15% 0.25% 0.25%
*USD Interest rates applicable depending on deposit amount
USD Rates
USD10,000 to USD50,000
3 months
0.05%
6 months
0.15%
12 months
0.15%
USD Rates
Above USD50,000 to USD100,000
3 months
0.10%
6 months
0.20%
12 months
0.20%
USD Rates
Above USD100,000
3 months
0.15%
6 months
0.25%
12 months
0.25%

Fixed deposit interest is calculated on a daily basis at applicable rate on deposit amount. Interest are then credited monthly, quarterly or at maturity as applicable.

Interest rates above are:

  • Per annum.
  • Fixed for the duration of the deposit.
  • Applicable for Personal Banking customers only.
  • All fixed deposits with instruction set as “auto–renewal” will be renewed at prevailing rates.

Loans and advances

BLR&KRR

Base Lending Rate (BLR)

Effective 28 April 2020

4.55% p.a.

Bank of Mauritius Key Repo Rate (KRR)

Effective 16 April 2020

1.85% p.a.
BLR&KRR

Base Lending Rate (BLR)

Effective 28 April 2020

Bank of Mauritius Key Repo Rate (KRR)

Effective 16 April 2020

4.55% p.a.
1.85% p.a.

Above rates are subject to fluctuation time to time.

Loans

Details on applicable rates
Loans
Rates
Home Loan
  • Home loan rates are quoted at BLR + margin. The applicable rate will be indicated on the Facility Offer Letter. Interest will be calculated on the daily outstanding balance and is payable monthly in arrears.
  • Periodic (generally monthly) instalments comprise of an interest payment and capital repayment, with interest portion reducing as the outstanding loan amount reduces.
  • The instalment amount may vary as the interest rate on the loan changes, if there is a change in the benchmark used- BLR. The instalment amount will increase if the rate increases or reduces if the rate decreases.
  • Penalty interest rate may be applicable if loan commitments are not met. Please refer to the terms in the facility offer letter.
Personal Loan
  • Personal loan rates are quoted at KRR/BLR + margin. The applicable rate will be indicated on the Facility Offer Letter. Interest will be calculated on the daily outstanding balance and is payable monthly in arrears.
  • Periodic (generally monthly) instalments comprise of an interest payment and capital repayment, with interest portion reducing as the outstanding loan amount reduces.
  • The instalment amount may vary as the interest rate on the loan changes, if there is a change in the benchmark used- KRR/BLR. The instalment amount increases if the rate increases or reduces if the rate decreases.
  • Penalty interest rate may be applicable if loan commitments are not met. Please refer to the terms in the facility offer letter.
Overdraft Facility
  • Overdraft facility rates are quoted at KRR/BLR + margin. The applicable rate will be indicated on the Facility Offer Letter.
  • Interest is calculated on daily basis on outstanding balance at applicable rate of interest.
Details on applicable rates
Loans
Home Loan
Rates
  • Home loan rates are quoted at BLR + margin. The applicable rate will be indicated on the Facility Offer Letter. Interest will be calculated on the daily outstanding balance and is payable monthly in arrears.
  • Periodic (generally monthly) instalments comprise of an interest payment and capital repayment, with interest portion reducing as the outstanding loan amount reduces.
  • The instalment amount may vary as the interest rate on the loan changes, if there is a change in the benchmark used- BLR. The instalment amount will increase if the rate increases or reduces if the rate decreases.
  • Penalty interest rate may be applicable if loan commitments are not met. Please refer to the terms in the facility offer letter.
Loans
Personal Loan
Rates
  • Personal loan rates are quoted at KRR/BLR + margin. The applicable rate will be indicated on the Facility Offer Letter. Interest will be calculated on the daily outstanding balance and is payable monthly in arrears.
  • Periodic (generally monthly) instalments comprise of an interest payment and capital repayment, with interest portion reducing as the outstanding loan amount reduces.
  • The instalment amount may vary as the interest rate on the loan changes, if there is a change in the benchmark used- KRR/BLR. The instalment amount increases if the rate increases or reduces if the rate decreases.
  • Penalty interest rate may be applicable if loan commitments are not met. Please refer to the terms in the facility offer letter.
Loans
Overdraft Facility
Rates
  • Overdraft facility rates are quoted at KRR/BLR + margin. The applicable rate will be indicated on the Facility Offer Letter.
  • Interest is calculated on daily basis on outstanding balance at applicable rate of interest.

Credit card finance charges

Effective 28 April 2020
Credit Card
Finance Charges
All
  • 1.70% per month for Gold and Platinum credit card
  • 1.75% per month for Classic credit card

Finance charge will be levied daily at applicable rate until balance has been repaid in full and will be added to the account on a monthly basis on statement date. Interest will not be charged on purchases (transactions effected at point of sales) if the whole outstanding balance shown on the statement is paid by the payment date. Interest on cash advance is charged from the date of cash advance transaction.

Effective 28 April 2020
Credit Card
All
Finance Charges
  • 1.70% per month for Gold and Platinum credit card
  • 1.75% per month for Classic credit card

Finance charge will be levied daily at applicable rate until balance has been repaid in full and will be added to the account on a monthly basis on statement date. Interest will not be charged on purchases (transactions effected at point of sales) if the whole outstanding balance shown on the statement is paid by the payment date. Interest on cash advance is charged from the date of cash advance transaction.

03 December 2020

Please note that below rates are applicable for amount less than Rs.700,000 or equivalent

Country Country Code Buying T.T Buying D.D Buying Notes Selling T.T/ D.D/ Notes
Australia AUD1 28.77 28.73 28.64 30.21
Canada CAD1 30.05 29.91 29.77 31.55
China2 CNY1 5.93 5.85 ND 6.23
Denmark DKK1 6.32 6.31 ND 6.64
EU EUR1 47.68 47.10 46.90 48.75
Hong Kong HKD1 5.01 4.96 4.96 5.26
India2 INR1 0.53 0.52 ND 0.55
Japan JPY100 37.26 36.91 ND 38.94
New Zealand NZD1 27.45 27.19 ND 28.82
Singapore SGD1 29.04 28.83 ND 30.49
South Africa ZAR1 2.54 2.50 2.51 2.67
Switzerland CHF1 43.44 43.36 ND 45.61
U.A.E AED1 10.60 10.50 10.45 11.07
U.S.A USD1 39.33 38.95 38.86 40.221
U.K GBP1 52.65 52.01 51.78 53.83

03 December 2020

Please note that below rates are applicable for amount less than Rs.700,000 or equivalent

Country Australia
Country Code AUD1
Buying T.T 28.77
Buying D.D 28.73
Buying Notes 28.64
Selling T.T/ D.D/ Notes
30.21
Country Canada
Country Code CAD1
Buying T.T 30.05
Buying D.D 29.91
Buying Notes 29.77
Selling T.T/ D.D/ Notes
31.55
Country China2
Country Code CNY1
Buying T.T 5.93
Buying D.D 5.85
Buying Notes ND
Selling T.T/ D.D/ Notes
6.23
Country Denmark
Country Code DKK1
Buying T.T 6.32
Buying D.D 6.31
Buying Notes ND
Selling T.T/ D.D/ Notes
6.64
Country EU
Country Code EUR1
Buying T.T 47.68
Buying D.D 47.10
Buying Notes 46.90
Selling T.T/ D.D/ Notes
48.75
Country Hong Kong
Country Code HKD1
Buying T.T 5.01
Buying D.D 4.96
Buying Notes 4.96
Selling T.T/ D.D/ Notes
5.26
Country India2
Country Code INR1
Buying T.T 0.53
Buying D.D 0.52
Buying Notes ND
Selling T.T/ D.D/ Notes
0.55
Country Japan
Country Code JPY100
Buying T.T 37.26
Buying D.D 36.91
Buying Notes ND
Selling T.T/ D.D/ Notes
38.94
Country New Zealand
Country Code NZD1
Buying T.T 27.45
Buying D.D 27.19
Buying Notes ND
Selling T.T/ D.D/ Notes
28.82
Country Singapore
Country Code SGD1
Buying T.T 29.04
Buying D.D 28.83
Buying Notes ND
Selling T.T/ D.D/ Notes
30.49
Country South Africa
Country Code ZAR1
Buying T.T 2.54
Buying D.D 2.50
Buying Notes 2.51
Selling T.T/ D.D/ Notes
2.67
Country Switzerland
Country Code CHF1
Buying T.T 43.44
Buying D.D 43.36
Buying Notes ND
Selling T.T/ D.D/ Notes
45.61
Country U.A.E
Country Code AED1
Buying T.T 10.60
Buying D.D 10.50
Buying Notes 10.45
Selling T.T/ D.D/ Notes
11.07
Country U.S.A
Country Code USD1
Buying T.T 39.33
Buying D.D 38.95
Buying Notes 38.86
Selling T.T/ D.D/ Notes
40.221
Country U.K
Country Code GBP1
Buying T.T 52.65
Buying D.D 52.01
Buying Notes 51.78
Selling T.T/ D.D/ Notes
53.83

1USD Selling Notes 40.41

2No dealings in Buying rates

No dealing in Notes for the following currencies:

  • Danish Krone
  • Japanese Yen
  • New Zealand Dollar
  • Singapore Dollar
  • Swiss Franc