Bank of Mauritius Template on Fees, Charges and Commission
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  • Bank of Mauritius Template on Fees, Charges and Commission

Bank of Mauritius Template on Fees, Charges and Commission



 

 

Interest Rates & Service Charges
(Amount in MUR unless stated otherwise)

Last updated - May 2018

Individuals

Corporates

Others

A

INTEREST RATES (per annum)

 

 

 

 

 

 

 

 

1

Deposits

 

 

 

 

Savings

0.85% - 2.25%

N/A

N/A

 

Call

N/A

Rates available on request

N/A

 

Term (MUR)

1.85% - 3.60%

Rates available on request

N/A

 

Term (FCY)

Rates available on request

Rates available on request

N/A

 

 

 

 

 

2

Credit Facilities (MUR)

 

 

 

 

Prime Lending Rate (PLR)

6.75%

6.75%

N/A

 

Credit cards

 

 

 

 

 

MasterCard/ VISA Classic cards

1.70% Monthly

1.70% Monthly

N/A

 

 

MasterCard/VISA Gold cards

1.70% Monthly

1.70% Monthly

N/A

 

 

VISA Platinum cards

1.70% Monthly

1.70% Monthly

N/A

 

 

MasterCard Corporate Card

N/A

1.70% Monthly

N/A

 

 

 

 

 

 

 

Other credit facilities - margin over PLR

 

 

 

 

 

Housing Loan*

As from PLR + (-0.50% to 0.25%)

N/A

N/A

 

 

Car Loan*

As from PLR + (1.0% to 2.75%)

Case to Case

N/A

 

 

Educational loan*

As from PLR to PLR + 1.25%

N/A

N/A

 

 

Personal loan*

As from PLR + (2% to 5.75%)

N/A

N/A

 

 

Personal loan against deposit

Fixed deposit Rate + Margin

N/A

N/A

 

 

 

 

 

3

Credit Facilities (FCY)

 

 

 

 

Margin over LIBOR

As per arrangement

As per arrangement

N/A

 

 

 

 

 

B

DEPOSITS

 

 

 

 

 

 

 

 

4

Savings Account

 

 

 

 

Minimum account opening balance

 

 

 

 

 

Savings Account

500

N/A

N/A

 

 

SMART Account

200 for SCS and 500 for SMART

N/A

N/A

 

 

Savings Account with cheque book

5,000

N/A

N/A

 

 

Senior Prime Account

10,000

N/A

N/A

 

 

MoneyGrow Account

50,000

N/A

N/A

 

 

 

 

 

 

Minimum credit balance to earn interest

 

 

 

 

 

Savings Account

3,000

N/A

N/A

 

 

SMART Account

3,000

N/A

N/A

 

 

Savings Account with cheque book

10,000

N/A

N/A

 

 

Senior Prime Account

25,000

N/A

N/A

 

 

Pre-Retirement Savings Account*
This product is no longer being offered. The present condition is applicable only for accounts opened prior 16th May 2017.

5,000

N/A

N/A

 

 

MoneyGrow Account

100,000

N/A

N/A

 

 

 

 

 

 

Monthly service charge if credit balance falls below minimum balance

N/A

N/A

N/A

 

 

 

 

 

 

5

Current Account

 

 

 

 

Minimum account opening balance

5,000

5,000

N/A

 

Cost of cheque book

 

 

 

 

 

25 Leaves

MUR 6/-per leaf

MUR 6/-per leaf

N/A

 

 

50 Leaves

MUR 6/-per leaf

MUR 6/-per leaf

N/A

 

 

100 Leaves

MUR 6/-per leaf

MUR 6/-per leaf

N/A

 

Maintenance fees (Charged every 6 months End of May and November)

 

 

 

 

 

 

No of transactions 1- 50

140

140

N/A

 

 

No of transactions 51- 100

290

290

N/A

 

 

No of transactions 101- 150

440

440

N/A

 

 

No of transactions 151- 200

590

590

N/A

 

 

No of transactions 201- 250

740

740

N/A

 

 

No of transactions (above 250)

890

890

N/A

 

 

 

 

 

6

Call Deposit Account

 

 

 

 

 

Minimum Balance

N/A

N/A

N/A

 

 

Minimum Credit Balance to earn Interest

N/A

10,000,000

N/A

 

 

Monthly Service Charge

N/A

N/A

N/A

 

 

 

 

 

7

Term Deposits (MUR)

 

 

 

 

Minimum amount

10,000

50,000

N/A

 

Deposit withdrawn before maturity

The rate applicable will be the prevailing rate for the period for which the deposit has been actually held with the Bank LESS 1% penalty. However, any such request for encashment before maturity will be solely at the Bank's discretion.

 

The rate applicable will be the prevailing rate for the period for which the deposit has been actually held with the Bank LESS 1% penalty. However, any such request for encashment before maturity will be solely at the Bank's discretion.

 

N/A

 

 

 

 

 

 

8

Term Deposits (FCY)

 

 

 

 

Minimum amount

 

 

 

 

 

Deposit in EUR

5,000 EUR

5,000 EUR

N/A

 

 

Deposit in GBP

5,000 GBP

5,000 GBP

N/A

 

 

Deposit in USD

5,000 USD

5,000 USD

N/A

 

 

Deposit in Other applicable currencies

5,000

5,000

N/A

 

 

Deposit withdrawn before maturity

The rate applicable will be the prevailing rate for the period for which the deposit has been actually held with the Bank LESS 1% penalty.

Note: However, any such request for encashment before maturity will be solely at the bank's discretion.

The rate applicable will be the prevailing rate for the period for which the deposit has been actually held with the Bank LESS 1% penalty.

Note: However, any such request for encashment before maturity will be solely at the bank's discretion.

N/A

 

 

 

 

 

9

Foreign Currency Account

 

 

 

 

Minimum amount

 

 

 

 

 

Deposit in EUR

2,000

2,000

N/A

 

 

Deposit in GBP

2,000

2,000

N/A

 

 

Deposit in USD

2,000

2,000

N/A

 

Minimum credit balance to earn interest

5,000 (In Applicable Currencies)

5,000 (In Applicable Currencies)

N/A

 

 

Service fee on Account

1 Unit as per currency per month if balance is below 500

1 Unit as per currency per month if balance is below 500

N/A

 

 

 

 

 

 

C

CREDIT FACILITIES

 

 

 

 

 

 

 

 

10

Credit Cards

 

 

 

 

Annual fee

 

 

 

 

 

MasterCard/ VISA Classic cards

230

230

N/A

 

 

MasterCard/VISA Gold cards

862.50

862.50

N/A

   

VISA Platinum cards

1092.50

1092.50

N/A

 

 

MasterCard Corporate Card

N/A

862.50

N/A

 

Replacement of lost/ stolen cards

 

 

 

 

 

MasterCard/ VISA Classic cards

100

100

N/A

 

 

MasterCard/VISA Gold cards

200

200

N/A

   

VISA Platinum cards

575

575

 

N/A

 

 

MasterCard Corporate Card

N/A

200

N/A

 

Cash Advance Fee

2% of amount withdrawn – Min MUR 100

2% of amount withdrawn – Min MUR 100

N/A

 

 

Over limit Fee

150

150

N/A

11

Loans and Advances

 

 

 

 

Processing fee (for loan approved but not availed)

1,000

1,000

N/A

 

Processing and Handling fees

1% per annum of facility amount subject to a minimum of MUR 1,000

1% per annum of facility amount subject to a minimum of MUR 2,500 or as per loan/overdraft agreement

N/A

 

 

Management fee

400 in July

400 in July

N/A

 

Commitment fee

1% of any undrawn balance

1% of any undrawn balance

N/A

 

 Early redemption/prepayment fee

Flat 1% on amount paid in advance for non BPA loans

Flat 1% on amount paid in advance for non BPA loans

N/A

 

 

Valuation Survey & Report fee

 

 

N/A

 

 Fees for valuation done by  approved valuer

Valuer's fee plus 200 – Minimum 4,200

Valuer's fee plus 2,000 – Minimum 5,000

N/A

 

Legal charges for creation of security documents for banking facilities

 

 

N/A

 

 

   Fixed / Floating charges

N/A

N/A

N/A

 

   Gages sans deplacement

N/A

N/A

N/A

 

   Erasure of charges

200 + Govt Fees

200 + Govt Fees

N/A

12

Guarantees

 

 

 

 

Performance bonds

1.5% p.a. for first MUR 5.0 M (Min MUR 600) plus 1% p.a. over the MUR 5.0 M

 

1.5% p.a. for first MUR 5.0 M (Min MUR 600) plus 1% p.a. over the MUR 5.0 M

N/A

 

 

Tender/ bid bonds

Flat 1.0% for first 6 months (Min MUR 600) & 0.25% for each period of 3 months (Minimum MUR 600)

 

Flat 1.0% for first 6 months (Min MUR 600) & 0.25% for each period of 3 months (Minimum MUR 600)

N/A

 

 

Advance payment bonds

2% p.a. (Min 750)

 

2% p.a. (Min 750)

 

N/A

 

 

Retention money bonds/ guarantees

 2% p.a (Minimum 750/-)

2% p.a (Minimum 750/-)

N/A

 

Shipping guarantee

MUR 600- for the first month & MUR 300- monthly thereafter until receipt of original Bill of lading /Airway bill

 

MUR 600- for the first month & MUR 300- monthly thereafter until receipt of original Bill of lading /Airway bill

N/A

 

D

GENERAL SERVICES

 

 

 

13

Treasury Bills

 

 

 

 

Account opening Fee

250

250

N/A

 

Transaction Fee

0.25%, Maximum 2,500

250

N/A

 

 

 

 

 

14

Debit Card

 

 

 

 

Annual Fee

N/A

N/A

N/A

 

Replacement of lost/ stolen cards

115 

 115

N/A

 

Withdrawals

 

 

N/A

 

Bank's ATM

Free

Free

N/A

 

Other bank's ATM

75

75

N/A

 

Abroad

75

75

N/A

15

Others

 

 

 

 

Telegraphic transfer

 

 

 

 

Incoming

150

150

N/A

 

Outgoing

225 + any overseas bank charges

225 + any overseas bank charges

N/A

 

MACSS facility

125

125

N/A

 

Audit confirmation certificate

600

600

N/A

 

Testimonial/Banker's reference fee

500

500

N/A

 

Letter of reference

500

500

N/A

 

Payroll fee

N/A

N/A

N/A

 

Internet Banking fee

Free

Rs 300/per month for first 3 users view only

N/A

 

Duplicate statement of account

Rs 25 per sheet
Free for e-correspondence customers

Rs 25 per sheet
Free for e-correspondence customers

N/A

 

Standing Instructions

 

 

 

 

Internal transfer

10

10

N/A

 

Transfer to other banks

30

30

N/A

 

Direct Debit

 6

 6

N/A 

 

Purchase of foreign cheques/bank drafts

 Case to Case

Case to Case 

 

 

Office Cheque Issuance

150

150

N/A

 

Cheque book facility

Refer to Cost of Cheques - Section 5

Refer to Cost of Cheques - Section 5

N/A

 

MACCS Transfer to another local Bank in rupees (MACSS) through Internet Banking

75

75

75

 

Cheque Returned

 

 

 

 

Inward

300 for lack of funds

300 for lack of funds

N/A

 

Outward

30

30

N/A

 

Stop Payment Orders

100

100

N/A

 

Safe Deposit Lockers (size - inches)

 

 

 

 

Small (3.5 x 21 x 4.5)

1 Year - 1,100 + VAT
2 Year - 1,650 + VAT
3 Years - 2,300 + VAT

1 Year - 1,100 + VAT
2 Year - 1,650 + VAT
3 Years - 2,300 + VAT

N/A

 

Medium (4.5 x 21 x 4.5)

1 Year - 2,200 + VAT
2 Year - 3,300 + VAT
3 Years - 4,400 + VAT

1 Year - 2,200 + VAT
2 Year - 3,300 + VAT
3 Years - 4,400 + VAT

N/A

 

Large (2.5 x 21 x 9.25)

1 Year - 3,300 + VAT
2 Year - 4,950 + VAT
3 Years - 6,600 + VAT

1 Year - 3,300 + VAT
2 Year - 4,950 + VAT
3 Years - 6,600 + VAT

N/A

 

Extra Large (9.25 x 21 x 9.25)

1 Year - 4,400 + VAT
2 Year - 8,800 + VAT
3 Years - 8,800 + VAT

1 Year - 4,400 + VAT
2 Year - 8,800 + VAT
3 Years - 8,800 + VAT

N/A

 

Night Safe

N/A 

N/A 

N/A 

 

Notes:

  • For further information, kindly contact the bank on 405-9400 or visit your local branch.
  • * Rates are subject to condition applicable.1% of facility amount subject to a minimum of MUR 2,500 or as per loan/overdraft agreement