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Tariff and Rates

Deposits (Savings, Current and Call deposit account)

In Mauritian Rupees

Effective date: 4 January 2023
Savings Account and Savings Plus Account
Interest rate is calculated based on different balance range as follows:
  • First Rs. 499, 999.99 - 1.90% p.a.
  • Rs. 500,000.00 to Rs. 999, 999.99 - 2.10% p.a.
  • Rs. 1,000,000.00 to Rs. 1,999,999.99 - 2.30% p.a.
  • Rs. 2,000,000.00 and above - 2.50.% p.a.
Current Account
0%
Interest is not applicable.

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: 4 January 2023
Savings Account and Savings Plus Account
Current Account
Interest rate is calculated based on different balance range as follows:
  • First Rs. 499, 999.99 - 1.90% p.a.
  • Rs. 500,000.00 to Rs. 999, 999.99 - 2.10% p.a.
  • Rs. 1,000,000.00 to Rs. 1,999,999.99 - 2.30% p.a.
  • Rs. 2,000,000.00 and above - 2.50.% p.a.
0%
Interest is not applicable.

Savings Account and Savings Plus Account

Call Deposit Account

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

Interest rate is calculated based on different balance range as follows:
  • First Rs. 499, 999.99 - 1.90% p.a.
  • Rs. 500,000.00 to Rs. 999, 999.99 - 2.10% p.a.
  • Rs. 1,000,000.00 to Rs. 1,999,999.99 - 2.30% p.a.
  • Rs. 2,000,000.00 and above - 2.50.% p.a.
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: 27 September 2022

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

Chinese Yuan

CNY
0.25%
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: 27 September 2022

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

Chinese Yuan

Abbreviation
CNY
Interest rate per annum
0.25%
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: 16 January 2023

New And Renewal of Fixed Deposits

Interest rates per annum and payable at maturity

Deposit Amount
MUR30,000 to MUR5M
Above MUR5M- MUR10M
Above MUR10M
12 months 2.60% 2.80% 3.00%
24 months 3.00% 3.20% 3.40%
36 months 3.50% 3.70% 3.90%
48 months 3.75% 3.95% 4.15%

New And Renewal of Fixed Deposits

Interest rates per annum and payable at maturity

Deposit Amount
12 months
MUR30,000 to MUR5M
2.60%
Above MUR5M- MUR10M
2.80%
Above MUR10M
3.00%
Deposit Amount
24 months
MUR30,000 to MUR5M
3.00%
Above MUR5M- MUR10M
3.20%
Above MUR10M
3.40%
Deposit Amount
36 months
MUR30,000 to MUR5M
3.50%
Above MUR5M- MUR10M
3.70%
Above MUR10M
3.90%
Deposit Amount
48 months
MUR30,000 to MUR5M
3.75%
Above MUR5M- MUR10M
3.95%
Above MUR10M
4.15%

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%
2.60%
37 months 0.00%
0.00%
3.50%
60 months 3.80%  3.85% 4.30%

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

 

2.60%
Period
37 months

Interest payable monthly

0.00%

Interest payable quarterly

0.00%

Interest payable at maturity

 

3.50%
Period
60 months

Interest payable monthly

3.80%

Interest payable quarterly

 3.85%

Interest payable at maturity

 

4.30%

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:
EUR, 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:
EUR, USD and GBP AUD and CAD
10,000 units 15,000 units 
EUR, USD and GBP HKD, CNY and ZAR
10,000 units 30,000 units
Effective date: 17 January 2023
Foreign Currency Abbreviation
3 months 6 months 12 months
US Dollars* USD 3.30% 3.70% 3.90%
Pound Sterling  GBP 2.15% 2.45% 2.70%
Canadian Dollar CAD 2.65% 2.85% 3.00%
Hong Kong Dollar HKD 1.00% 1.70% 2.30%
Chinese Yuan CNY 1.10% 1.30% 2.00%
Australian Dollar AUD 1.50% 2.25% 3.00%
South African Rand ZAR 4.50% 5.10% 6.00%
Effective date: 17 January 2023
Foreign Currency US Dollars*
Abbreviation
USD
3 months 3.30%
6 months 3.70%
12 months 3.90%
Foreign Currency Pound Sterling 
Abbreviation
GBP
3 months 2.15%
6 months 2.45%
12 months 2.70%
Foreign Currency Canadian Dollar
Abbreviation
CAD
3 months 2.65%
6 months 2.85%
12 months 3.00%
Foreign Currency Hong Kong Dollar
Abbreviation
HKD
3 months 1.00%
6 months 1.70%
12 months 2.30%
Foreign Currency Chinese Yuan
Abbreviation
CNY
3 months 1.10%
6 months 1.30%
12 months 2.00%
Foreign Currency Australian Dollar
Abbreviation
AUD
3 months 1.50%
6 months 2.25%
12 months 3.00%
Foreign Currency South African Rand
Abbreviation
ZAR
3 months 4.50%
6 months 5.10%
12 months 6.00%
*USD Interest rates applicable depending on deposit amount
USD Rates
3 months
6 months
12 months
USD10,000 to USD50,000
3.30% 3.70% 3.90%
Above USD50,000 to USD100,000
3.35% 3.75% 3.95%
Above USD100,000
3.40% 3.80% 4.00%
*USD Interest rates applicable depending on deposit amount
USD Rates
USD10,000 to USD50,000
3 months
3.30%
6 months
3.70%
12 months
3.90%
USD Rates
Above USD50,000 to USD100,000
3 months
3.35%
6 months
3.75%
12 months
3.95%
USD Rates
Above USD100,000
3 months
3.40%
6 months
3.80%
12 months
4.00%

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&KR

Base Lending Rate (BLR)

Effective 4 January 2023

7.05% p.a.

Bank of Mauritius Key Rate (KR)
Effective 14 December 2022

4.50% p.a.
BLR&KR

Base Lending Rate (BLR)

Effective 4 January 2023

Bank of Mauritius Key Rate (KR)
Effective 14 December 2022

7.05% p.a. 4.50% 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 KR/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- KR/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 KR/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 KR/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- KR/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 KR/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 20 November 2022
Credit Card
Finance Charges
All
  • 1.90% per month for Gold and Classic Credit card
  • 1.85% per month for Visa Platinum 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 20 November 2022
Credit Card
All
Finance Charges
  • 1.90% per month for Gold and Classic Credit card
  • 1.85% per month for Visa Platinum 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.

31 January 2023

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 30.76 30.72 30.62 32.30
Canada CAD1 32.61 32.46 32.30 34.24
China2 CNY1 6.47 6.38 ND 6.79
Denmark DKK1 6.38 6.36 ND 6.69
EU EUR1 48.10 47.39 47.18 49.05
Hong Kong HKD1 5.58 5.53 5.53 5.86
India2 INR1 0.54 0.53 ND 0.56
Japan JPY100 33.65 33.33 ND 35.17
New Zealand NZD1 28.21 27.95 ND 29.62
Singapore SGD1 33.28 33.04 ND 34.94
South Africa ZAR1 2.51 2.48 2.49 2.64
Switzerland CHF1 47.28 47.19 ND 49.64
U.A.E AED1 11.93 11.82 11.76 12.47
U.S.A USD1 44.35 43.82 43.71 45.241
U.K GBP1 54.75 53.95 53.71 55.83

31 January 2023

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

Country Australia
Country Code AUD1
Buying T.T 30.76
Buying D.D 30.72
Buying Notes 30.62
Selling T.T/ D.D/ Notes
32.30
Country Canada
Country Code CAD1
Buying T.T 32.61
Buying D.D 32.46
Buying Notes 32.30
Selling T.T/ D.D/ Notes
34.24
Country China2
Country Code CNY1
Buying T.T 6.47
Buying D.D 6.38
Buying Notes ND
Selling T.T/ D.D/ Notes
6.79
Country Denmark
Country Code DKK1
Buying T.T 6.38
Buying D.D 6.36
Buying Notes ND
Selling T.T/ D.D/ Notes
6.69
Country EU
Country Code EUR1
Buying T.T 48.10
Buying D.D 47.39
Buying Notes 47.18
Selling T.T/ D.D/ Notes
49.05
Country Hong Kong
Country Code HKD1
Buying T.T 5.58
Buying D.D 5.53
Buying Notes 5.53
Selling T.T/ D.D/ Notes
5.86
Country India2
Country Code INR1
Buying T.T 0.54
Buying D.D 0.53
Buying Notes ND
Selling T.T/ D.D/ Notes
0.56
Country Japan
Country Code JPY100
Buying T.T 33.65
Buying D.D 33.33
Buying Notes ND
Selling T.T/ D.D/ Notes
35.17
Country New Zealand
Country Code NZD1
Buying T.T 28.21
Buying D.D 27.95
Buying Notes ND
Selling T.T/ D.D/ Notes
29.62
Country Singapore
Country Code SGD1
Buying T.T 33.28
Buying D.D 33.04
Buying Notes ND
Selling T.T/ D.D/ Notes
34.94
Country South Africa
Country Code ZAR1
Buying T.T 2.51
Buying D.D 2.48
Buying Notes 2.49
Selling T.T/ D.D/ Notes
2.64
Country Switzerland
Country Code CHF1
Buying T.T 47.28
Buying D.D 47.19
Buying Notes ND
Selling T.T/ D.D/ Notes
49.64
Country U.A.E
Country Code AED1
Buying T.T 11.93
Buying D.D 11.82
Buying Notes 11.76
Selling T.T/ D.D/ Notes
12.47
Country U.S.A
Country Code USD1
Buying T.T 44.35
Buying D.D 43.82
Buying Notes 43.71
Selling T.T/ D.D/ Notes
45.241
Country U.K
Country Code GBP1
Buying T.T 54.75
Buying D.D 53.95
Buying Notes 53.71
Selling T.T/ D.D/ Notes
55.83

1USD Selling Notes 45.45

2No dealings in Buying rates

No dealing in Notes  for the following currencies:

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

Statement of Commitment to the FX Global Code

  • The Hongkong and Shanghai Banking Corporation Limited has reviewed the FX Global Code ("the Code") and is committed to conducting FX market activities in a manner consistent with the principles of the Code.
  • The Code is a common set of guidelines that promote a robust, fair, liquid, open and transparent market underpinned by high ethical standards. More information is available on this link.