Bank of Mauritius Template on Fees, Charges and Commission (Last updated on 22/12/2022)
Interest Rates | |||
---|---|---|---|
Individuals | Corporates | Others | |
Deposit | |||
Savings (MUR) | n/a | n/a | n/a |
Call (MUR) | n/a | n/a | n/a |
Term (MUR) | |||
3 months | Market rate | Rates available on request | n/a |
6 months | Market rate | Rates available on request | n/a |
12 months | Market rate | Rates available on request | n/a |
24 months | Market rate | Rates available on request | n/a |
36 months | Market rate | Rates available on request | n/a |
48 months | Market rate | Rates available on request | n/a |
60 months | Market rate | Rates available on request | n/a |
Term (FCY) Fixed Deposit |
Rates available on request |
|
n/a |
Credit Facilities (MUR) | |||
Prime Lending Rate (PLR) | 6.65 % p.a | 6.65 % p.a | n/a |
Credit Cards | n/a | n/a | n/a |
Other Credit facilities + margin over PLR | PLR + Applicable Margin | PLR + Applicable Margin | n/a |
Credit Facilities (FCY) | |||
Margin over LIBOR | Libor/Other Relevant Reference Rates + Applicable Margin | Libor/Other Relevant Reference Rates + Applicable Margin | n/a |
Deposits | |||
Savings Account | |||
Minimum account opening balance | n/a | n/a | n/a |
Minimum credit balance to earn interest | n/a | n/a | n/a |
Monthly service charges if credit balance fails below minimum balance | Nil | n/a | n/a |
Current Account | |||
Minimum account opening balance | Rs 25,000 | Rs 3,500,000 | n/a |
Cost of cheque book |
50 leaves Rs 250
100 leaves Rs 400 |
50 leaves Rs 250
100 leaves Rs 400 200 leaves Rs 750 |
n/a |
Monthly Service Charges | Rs 100 + VAT | Rs 150 + VAT | n/a |
Call Deposit Account (MUR) | |||
Minimum balance | n/a | Rs3,500,000 | n/a |
Minimum credit balance to earn interest | n/a | Rs1,000,000 | n/a |
Monthly service charges | Nil | Nil | n/a |
Term deposits (MUR) | |||
Minimum amount | Rs100,000 | Rs3,500,000 | n/a |
Deposit withdrawn before maturity | A rate of 1.0% p.a. will be charged on the amount being redeemed over the period between the date of pre-termination and the date of maturity of the deposit (Assuming Normal Market Conditions) | For deposits redeemed before maturity date, the higher of either a penal rate of 1.0% p.a. or the cost of replacement of the deposit will apply. | n/a |
Term deposits (FCY) | |||
Minimum amount | USD10,000 or equivalent | USD100,000 or equivalent | n/a |
Deposits withdrawn before maturity | A rate of 1.0% p.a. will be charged on the amount being redeemed over the period between the date of pre-termination and the date of maturity of the deposit (Assuming Normal Market Conditions) | For deposits redeemed before maturity date, the higher of either a penal rate of 1.0% p.a. or the cost of replacement of the deposit will apply. | n/a |
Individuals | Corporates | Others | |
Foreign Currency Account | |||
Minimum balance | |||
Euro | n/a | Equivalent of USD100,000 | n/a |
Pounds Sterling | n/a | Equivalent of USD100,000 | n/a |
US Dollar | n/a | USD100,000 | n/a |
Minimum credit balance to earn interest | n/a | n/a | n/a |
Monthly service charges | Rs 100 + VAT | Monthly Account maintenance / Ledger fees Rs 150 + VAT | n/a |
Banking of notes | 1.00% | 1.00% | n/a |
Charges on withdrawal of notes | 0.50% | 0.50% | n/a |
Credit Facilities | |||
Credit cards | |||
Annual Fee | n/a | n/a | n/a |
Replacement of lost/stolen cards | n/a | n/a | n/a |
Cash advance fee | n/a | n/a | n/a |
Overlimit fee | n/a | n/a | n/a |
Loans and advances | |||
Processing fee | None | None | n/a |
Arrangement fees | 1% min. Rs 1,000 | 1% min. Rs 1,000 | n/a |
Ledger Fee | n/a | n/a | n/a |
Commitment fee | 1% p.a on non-utilized portion | 1% p.a. on non-utilized portion | n/a |
Early redemption fee |
1.5% of the amount paid in advance over the residual lifetime of the loan or applicable
Breakage Cost (per Facility Agreement),
whichever is the higher
Nil for facilities falling under Borrowers' Protection Act |
1.5% of the amount paid in advance over the residual lifetime of the loan or applicable
Breakage Cost (per Facility Agreement),
whichever is the higher
Nil for facilities falling under Borrowers' Protection Act |
n/a |
Valuation Survey & Report fee | Rs 1,000 + valuation fee | Rs 1,000 + valuation fee | n/a |
Legal charges for creation of security documents | |||
-Fixed/Floating Charges | Rs 1,500 | Rs 1,500 | n/a |
-Gages sans deplacement | Rs 1,000 | Rs 1,000 | n/a |
-Erasure of charges | Rs 1,000 | Rs 1,000 | n/a |
Guarantees | |||
Performance bonds | 1.5% p.a for first Rs 5M (min Rs 1,000) + 1% for additional amount over Rs 5M | 1.5% p.a for first Rs 5M (min Rs 1,000 ) + 1% p.a for additional amount over Rs 5M | n/a |
Tender/bid bonds | n/a |
1.0% first 6 months (min Rs 1,000 )
0.25% for each additional period of three months or part of (min Rs 1,000 ) |
n/a |
Advance payment bonds | 2.0% p.a (min Rs 1,000) | 2.0% p.a (min Rs 1,000) | n/a |
Retention money bonds / guarantees | 2 .0% p.a (min Rs 1,000) | 2.0% p.a (min Rs 1,000) | n/a |
Shipping guarantee | Rs 2,000 | Rs 2,000 | n/a |
General Services | |||
Treasury Bills | |||
Account opening fee | Nil | Nil | Nil |
Transaction fee | Nil | Nil | Nil |
Individuals | Corporates | Others | |
Debit Cards | |||
Annual fee | n/a | n/a | n/a |
Replacement of lost/stolen cards | n/a | n/a | n/a |
Withdrawals | |||
-Bank's ATM | n/a | n/a | n/a |
-Other Bank's ATM | n/a | n/a | n/a |
-Overseas | n/a | n/a | n/a |
Others | |||
Telegraphic transfer (inclusive of swift charges) if "Commission charges our" |
Rs 500
USD 25 , GBP 15 , ZAR 130 and EUR 25 or equivalent as per our correspondent bank charges + any applicable overseas bank charges |
Rs 400 (via Business Online)
Rs 1,000 (Manual instructions) USD 25 , GBP 15 , ZAR 130 and EUR 25 or equivalent as per our correspondent bank charges + any other applicable overseas bank charges |
n/a |
MACCS facility | Rs 150 | Rs 100 | n/a |
Audit confirmation certificate | Rs 500 | Rs 1,000 | n/a |
Testimonial/Banker's reference fee | Rs 200 | Rs 200 | n/a |
Letter of reference | Rs 200 | Rs 200 | n/a |
Payroll fee | n/a | n/a | n/a |
Internet banking fee | Free | n/a | n/a |
Electronic banking (Business Online) | |||
Reporting &Transacting | n/a | Rs 600 per month | n/a |
Reporting only | n/a | n/a | n/a |
Reporting of additional legal entity | n/a | Rs 100 per month | n/a |
Additional training /reinstallation (on site) | n/a | Free of charge | n/a |
Duplicate statement of account | Rs 25 per sheet | Rs 25 per sheet less than 3 months and Rs 100 per sheet for duplicates over than 3 months | n/a |
Standing Instructions | |||
Internal transfer | Nil | Nil | n/a |
Transfer to other banks | Rs 30 | Rs 30 | n/a |
Unpaid Standing Order due to insufficient fund | Rs 200 | Rs 200 | n/a |
Direct Debit | n/a | n/a | n/a |
Unpaid Direct Debits | n/a | n/a | n/a |
Purchase of foreign cheques / bank drafts | n/a | n/a | n/a |
Sale of draft | n/a | n/a | n/a |
Stop payments for bank drafts | n/a | n/a | n/a |
Cancellation fee for bank draft | n/a | n/a | n/a |
Office cheque issuance | Rs 150 | Rs 150 | n/a |
Special Cheque Clearance
(on request for min of Rs 200,000) |
Nil | Nil | n/a |
Cheque book facility | Refer to cost of cheque book | Refer to cost of cheque book | n/a |
Cheque returned | |||
Inward | Rs 250 | Rs 200 | n/a |
Outward | nil | nil | n/a |
Stop payment orders | Rs 100 per request | Rs 100 per request | n/a |
Safe deposit lockers | n/a | n/a | n/a |
Night safe | n/a | n/a | n/a |