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Bank of Mauritius Template on Fees, Charges and Commission

Interest Rates & Service Charges
(Amount in MUR unless stated otherwise)
(Last updated 14.02.2017)
V.61/14022017IndividualsCorporatesOthers
AINTEREST RATES (per annum)
1Deposits   
 
  • Savings
2.30%-Balance up to MUR 5.0m: 2.30%
-Balance in excess of MUR 5.0m: Savings rate less 2.00%
N/A
 
  • Call
N/AN/AN/A
 
  • Term (MUR)
  N/A
 
  • 7 days
0.10%0.10% 
 
  • 03 months
0.50%0.50% 
 
  • 12 months
S + (0.250% - 0.280%) (1)S + (0.250% - 0.280%) (1) 
 
  • 24 months
S + (0.375% - 0.445%) (1)S + (0.375% - 0.445%) (1) 
 
  • 36 months
S + (0.500% - 0.615%) (1) S + (0.500% - 0.615%) (1) 
 
  • 48 months
S + (0.875% - 1.080%) (1)S + (0.875% - 1.080%) (1) 
 
  • 60 months
S + (1.375% - 1.730%) (1)S + (1.375% - 1.730%) (1) 
 Note 1: S = MCB Savings Rate. Interest rate varies according to deposit period & interest payment frequency and is applicable on deposit amount up to MUR 25 million]   
 
  • Term (FCY)
LIBOR rates applyLIBOR rates applyN/A
2Credit Facilities (MUR)   
 
  • Prime Lending Rate (PLR)
6.25%6.25%N/A
 
  • Credit cards
  N/A
 
  • American Express Green cards
PLR + (9.50% - 13.50%)N/A 
 
  • American Express Gold cards
PLR + (9.50% - 13.50%)N/A 
 
  • MasterCard/ VISA Classic cards
PLR + 13.50% N/A 
 
  • MasterCard/ VISA Gold cards
PLR + 13.50%N/A 
 
  • MasterCard PRIMO
PLR + 13.50%N/A 
 
  • MasterCard/ VISA Corporate cards
N/APLR + 7% 
 
  • MasterCard/ VISA Business cards
N/APLR + 7% 
 
  • Other credit facilities - margin over PLR
  N/A
 
  • Housing Loan(2)
PLR + (0.00% - 2.50%)N/A 
 
  • Car Loan(3)
PLR + (2.50% - 3.25%)PLR + (2.50% - 3.25%) 
 
  • Educational Loan
PLR + (0.00% - 4.00%)N/A 
 
  • Personal Loan (3.1)
PLR + (3.00% - 8.00%)N/A 
 
  • Personal Loan guaranteed by cash
Fixed deposit rate + Margin p.a. (Minimum PLR)N/A 
 Note 2: Interest rate varies according to loan amount and customer category   
 Note 3: Interest rate varies according to level of financing   
 Note 3.1: Interest rate varies according to loan amount, DSR, existing facilities & customer category   
3Credit Facilities (FCY)   
 
  • Margin over LIBOR
NegotiableNegotiableN/A
BDEPOSITS
4Savings Account   
 
  • Minimum account opening balance
  N/A
 
  • Regular Savings Account
Not applicable1,000 
 
  • Junior Savings Account
Not applicableN/A 
 
  • Minimum credit balance to earn interest
  N/A
 
  • Regular Savings Account
3,0003,000 
 
  • Junior Savings Account
500N/A 
 
  • Monthly service charge if credit balance falls below minimum balance
N/AN/AN/A
 
  • Statement fee on quarterly/ monthly issuance of paper statements of account
Note: June & December issuance free of charge		15 per issuance15 per issuanceN/A
 
  • Reissuance/ Replacement of passbooks/ Account card
25N/AN/A
5Current Account   
 
  • Minimum account opening balance
1,00010,000N/A
 
  • Cost of cheque book (per sheet)
5.006.00N/A
 
  • Monthly service charges
MUR 10 + VAT (4)MUR 35 + VAT N/A
 
  • Ledger Fee
N/AN/AN/A
 Note 4: Including associations   
 
  • Statement fee on daily/ weekly/ twice monthly/ monthly/ quarterly issuance of paper statements of account
Note: June & December issuance free of charge		15 per issuance15 per issuanceN/A
6Call Deposit Account   
 
  • Minimum balance
N/AN/AN/A
 
  • Minimum credit balance to earn interest
N/AN/AN/A
 
  • Monthly service charges
N/AN/AN/A
7Term Deposits (MUR)   
 
  • Minimum amount
 100,000100,000N/A
 
  • Deposit withdrawn before maturity
  N/A
 
  • Within 3 months of date for deposit
Interest forfeitedInterest forfeited 
 
  • After 3 months of date for deposit
Flat penalty of 1% applicable to the redeemed capital.
If pre-terminated between 3 and 12 months from date of deposit: Savings rate applicable over the period actually covered by the deposit. If pre-terminated after 12 months from date of deposit: interest rate applicable will be that of the preceding term. Amount if interest payable will be computed from the deposit date to the pre-termination date and adjusted accordingly		 
    
8Term Deposits (FCY)   
 
  • Minimum amount
  N/A
 
  • Deposit in Pound Sterling
5,000 GBP5,000 GBP 
 
  • Deposit in US Dollar
5,000 USD5,000 USD 
 
  • Deposit in Euro
5,000 EUR5,000 EUR 
 
  • Deposit in Australian Dollar
10,000 AUD10,000 AUD 
 
  • Deposit in South African Rand
50,000 ZAR50,000 ZAR 
9Foreign Currency Account   
 
  • Minimum amount
No minimum requiredNo minimum requiredN/A
 
  • Euro
No minimum requiredNo minimum required 
 
  • Pound Sterling
No minimum requiredNo minimum required 
 
  • US Dollar
No minimum requiredNo minimum required 
 
  • Australian Dollar
No minimum requiredNo minimum required 
 
  • South African Rand
No minimum requiredNo minimum required 
 
  • Swiss Franc
No minimum requiredNo minimum required 
 
  • Renminbi (Chinese Yuan)
No minimum requiredNo minimum required 
 
  • Service fee on monthly statements of accounts
USD 10 + VAT every 6 mthsUSD 10 + VAT every 3 mthsN/A
 
  • Deposit withdrawn before maturity
Penalty rate of 1.5% p.a. charged on amount being redeemed over the period between the date of pre-termination and the date of maturity of the depositPenalty rate of 1.5% p.a. charged on amount being redeemed over the period between the date of pre-termination and the date of maturity of the depositN/A
 
  • Monthly charges on credit balances in account
  N/A
 
  • CHF (Swiss Francs) accounts
Account balance (CHF):
-100,000 up to 10 million: 0.3% p.a.
-Greater than 10 million: 0.8% p.a.		Account balance (CHF):
-100,000 up to 10 million: 0.3% p.a.
-Greater than 10 million: 0.8% p.a.		N/A
 
  • EUR (Euro) accounts
-Any amount above EUR 100,000: 0.4% p.a.-Any amount above EUR 100,000: 0.4% p.a.N/A
 
  • Cash withdrawal fee
-In USD notes: 1.0% of withdrawn amount -In other currencies: 0.125%, min. 10/ max. 75 USD or equivalent-In USD notes: 1.0% of withdrawn amount -In other currencies: 0.50%, min. 10/ max. 75 USD or equivalentN/A
 
  • Cash deposit fee
Not applicableNot applicableN/A
 
  • Transfer commission charged on debit transactions (over and above standard charges applicable to debit transactions)
0.125%, min. 10/ max. 75 USD or equivalent0.50%, min. 10/ max. 75 USD or equivalentN/A
CCREDIT FACILITIES
10Credit Cards   
 
  • Annual fee
  N/A
 
  • American Express Green cards - Primary card
1,500 + VATN/A 
 
  • American Express Green cards - Secondary card
1,000 + VAT  
 
  • American Express Gold cards - Primary card
 3,000 + VATN/A 
 
  • American Express Gold cards - Secondary card
2,000 + VAT  
 
  • MasterCard/ VISA Classic cards - Primary card
200 + VATN/A 
 
  •  MasterCard/ VISA Classic cards - Secondary card
150 + VATN/A 
 
  • MasterCard/ VISA Gold cards - Primary card
800 + VATN/A 
 
  • MasterCard/ VISA Gold cards - Secondary card
600 + VATN/A 
 
  •  MasterCard PRIMO (for both primary and secondary cards)
150 + VAT N/A 
 
  • MasterCard/ VISA Corporate cards
N/A1,200 + VAT per card 
 
  • MasterCard/ VISA Business cards
N/A200 + VAT per card
[One-time set up fee: MUR 1,500 + MUR 200 per card]		 
 
  • Replacement of lost/ stolen cards
  N/A
 
  • American Express Green cards
Free of chargeN/A 
 
  • American Express Gold cards
Free of chargeN/A 
 
  • MasterCard/ VISA Classic cards
200 + VATN/A 
 
  • MasterCard/ VISA Gold cards
Free of chargeN/A 
 
  • MasterCard PRIMO
200 + VATN/A 
 
  • MasterCard/ VISA Corporate cards
N/A500 + VAT 
 
  •  MasterCard/ VISA Business cards
N/A100 + VAT 
 
  • Cash Advance Fee
  N/A
 
  • American Express Green cards
2% of amount withdrawn, Minimum MUR 100 (4.2)N/A 
 
  • American Express Gold cards
 2% of amount withdrawn, Minimum MUR 100 (4.2)N/A 
 
  • MasterCard/ VISA Classic cards
2% of amount withdrawn, Minimum MUR 50 (4.2)N/A 
 
  •  MasterCard/ VISA Gold cards
2% of amount withdrawn, Minimum MUR 50 (4.2)N/A 
 
  • MasterCard PRIMO
 2% of amount withdrawn, Minimum MUR 50 (4.2)N/A 
 
  • MasterCard/ VISA Corporate cards
N/A2% of amount withdrawn, Minimum MUR 50 
 
  • MasterCard/ VISA Business cards
N/A2% of amount withdrawn, Minimum MUR 50 (4.2) 
 Note 4.2: applicable on withdrawal done locally & abroad   
 
  • Overlimit Fee
  N/A
 
  • American Express Green cards
200 N/A 
 
  • American Express Gold cards
200N/A 
 
  • MasterCard/ VISA Classic cards
150N/A 
 
  • MasterCard/ VISA Gold cards
150N/A 
 
  •  MasterCard PRIMO
150N/A 
 
  • MasterCard/ VISA Corporate cards
N/A150 
 
  • MasterCard/ VISA Business cards
N/A150 
 
  • Conversion Charge
   
 
  • Conversion charge on payments in foreign currency
    Note: Conversion fee applies where transaction currency is not equal to the billing currency.
Ÿ		2% (over and above network charges)2% (over and above network charges)N/A
11Loans and Advances   
 
  • Credit Processing fee
  N/A
 
  • Unsecured loans
1% of facility amount, Minimum MUR 750/ Maximum MUR 25,0001% of facility amount or as per loan contract 
 
  • Housing loans
1% of facility amount, Minimum MUR 3,000/ Maximum MUR 25,000N/A 
 
  • Loans fully secured by cash collateral
 1% of facility amount, Minimum MUR 1,000/ Maximum MUR 3,000 1% of facility amount, Minimum MUR 1,000/ Maximum MUR 25,000 
 
  • Other secured loans
 1% of facility amount, Minimum MUR 1,000/ Maximum MUR 25,0001% of facility amount or as per loan contract 
 
  • Prepayment Option Fee (4.3)
0.75% of loan amount0.75% of loan amount N/A
 
  • Arrangement fee
N/AN/AN/A
 
  • Ledger fee
N/AN/AN/A
 
  • Commitment fee
1% of any undrawn balance as at 3 months after date of letter of conditions + 1% per annum for any subsequent period of 12 months1% of any undrawn balance as at 3 months after date of letter of conditions + 1% per annum for any subsequent period of 12 monthsN/A
 
  • Early Repayment fee (4.3)
  N/A
 
  • MCB Campus/ Housing loans
1% of loan amount prepaidN/A 
 
  • Other loan types
2% of loan amount prepaid, Minimum MUR 3,000Interest on the amount paid in advance at the rate applicable to the loan from date the advance payment is made to the agreed date/s of repayment LESS interest on the amount paid in advance at the prevailing rate for fixed deposits for the same period/s as above or as per loan contract 
 Note 4.3: Not applicable for loans falling under the Borrowers´ Protection Act   
 
  • Insurance Handling fee
MUR 500MUR 500N/A
 
  • Valuation survey & Report fee (4.4)
0.5% of loan amount, Minimum MUR 1,000/ Maximum MUR 5,0000.5% of loan amount, Minimum MUR 1,000/ Maximum MUR 5,000N/A
 Note 4.4: Not applicable in case of banking facilities of MUR 50,000 or less and renewal of a credit facility
Different pricing appliesfro properties in Rodrigues
   
 
  • Legal charges for creation of security documents (excluding Registrar's charges)
  N/A
 
  • Fixed/ Floating charges
100100 
 
  • Gages sans deplacement
100100 
 
  • Erasure of charges
5050 
12Guarantees   
 
  • Performance bonds
   
 
  • Charge amount for the first MUR 5.0 m
1.5% per annum1.5% per annumN/A
 
  • For any amount above MUR 5.0 m
1.0% per annum, Minimum MUR 1,5001.0% per annum, Minimum MUR 1,500 
 
  • Amendment fee
500500 
 
  • Tender/ bid bonds
  N/A
 
  • Charge amount for the first 180 days
1.0% flat, Minimum MUR 7501.0% flat, Minimum MUR 750 
 
  • For each additional period of 90 days or part thereof
0.25% flat, Minimum MUR 7500.25% flat, Minimum MUR 750 
 
  • Amendment fee
500500 
 
  • Advance payment bonds
  N/A
 
  • Charge amount
1.0% per annum, Minimum MUR 1,500 1.0% per annum, Minimum MUR 1,500 
 
  • Amendment fee
500 500 
 
  • Retention money bonds/ guarantees
  N/A
 
  • Charge amount
1.0% per annum, Minimum MUR 1,5001.0% per annum, Minimum MUR 1,500 
 
  • Amendment fee
500500 
 
  • Shipping guarantee
  N/A
 
  • Charge amount for the first two months
800800 
 
  • For each additional period of one month or part thereof
300300 
 
  • Amendment fee
500500 
 Note: A processing fee shall be charged, where applicable, in addition to the fee charged for a Bank Guarantee transaction
DGENERAL SERVICES
13Treasury Bills   
 
  • Minimum account opening balance
N/AN/AN/A
 
  • Transaction Fee
0.25%, Minimum MUR 1,000/ Maximum MUR 2,5000.25%, Minimum MUR 1,000/ Maximum MUR 2,500 N/A
14Debit Cards   
 
  • Annual fee
 Free of chargeN/AN/A
 
  • Replacement of lost/ stolen cards
50 + VATN/AN/A
 
  • Withdrawals
  N/A
 
  • Bank´s ATM
Free of chargeN/A N/A
 
  • Other bank´s ATM
50N/AN/A
 
  • Abroad
1%, Minimum MUR 75 (Conversion fee 2% applicable over and above network charges)N/AN/A
 
  • Balance enquiry print request
   
 
  • Balance enquiry requested through MCB ATM
1N/AN/A
 
  • Balance enquiry requested through other bank ATM
10N/AN/A
 
  • Mini-statement request
   
 
  • For first two statements within a month
Free of chargeN/AN/A
 
  • As from the third statement within same month
 2N/AN/A
15Prepaid Card   
 
  • Card Issuance fee
   
 
  • UPI Prepaid Card
USD 5 + VAT/ CNY 30 + VATN/AN/A
 
  • VISA Prepaid Card
(USD 5/ GBP 3/ EUR 4/ ZAR 55/ MUR 150) + VATN/AN/A
 
  • Replacement Card fee (UPI/ VISA Prepaid Card)
150 + VATN/AN/A
 
  • Loading/ Reloading fee (UPI/ VISA Prepaid Card)
0.5% with,
-Minimum USD 2/ GBP 1.20/ EUR 1.50/ ZAR 20/ MUR 60/ CNY 10
-Maximum USD 65/ GBP 40/ EUR 50/ ZAR 700/ MUR 1,950/ CNY 400		N/AN/A
 
  • ATM Cash Withdrawal fee (UPI/ VISA Prepaid Card)
   
 
  • Through MCB ATM
Free of chargeN/AN/A
 
  • Through other ATM (local & overseas)
1.0%, minimum 75N/AN/A





16Others  N/A N/A
 
  • Telegraphic transfer (5)
  N/A N/A
 
  • SWIFT Transfer fee
325325N/A
 
  • Investigation charges 5.1
300300N/A
 Note 5: Overseas bank charges apply; amount varies according to country of destination
Note 5.1: Other charges may apply as claimed by overseas banks		   
 
  • MACSS facility
  N/A
 
  • Standard Payment
   
 
  • Through IB
Free of chargeFree of charge 
 
  • At counter
40 per local outward transfer40 per local outward transfer 
 
  • Express Payment
  
 
  • Ÿ Through IB
75 per local outward transfer75 per local outward transfer 
 
  • Ÿ At counter
125 per local outward transfer125 per local outward transfer 
 
  • Audit confirmation certificate
  N/A
 
  • For recurrent service
 400400 
 
  • For ad hoc/ outside date request
800800 
 
  • Testimonial/ Banker´s reference fee
  N/A
 
  • Educational and medical purpose
   
 
  • For the first copy
100100 
 
  • For each additional copy
2525 
 
  • Travel purpose - For local residents
   
  • For the first copy
300300
 
  • For each additional copy
100100 
 
  • Travel purpose - For foreigners
   
 
  • For the first copy
USD 20USD 20 
 
  • For each additional copy
USD 5USD 5 
 
  • Letter of reference
500500N/A
 
  • Loan Balance Certificate
300300N/A
 
  • Payroll fee
   N/A
 
  • Manual processing
N/A35 per itemN/A
 
  • Electronic list processing
N/A1.00 per item + MUR 500 per monthN/A
 
  • Internet Banking Bulk Payment
N/A1.00 per itemN/A
 
  • Internet banking fee
  N/A
 
  • ´View Only´ Option
Free of charge100 per month 
 
  • ´All´ Option
Free of charge100 (7) per month 
 Note 7: Fee applicable per company, irrespective of number of signatories   
 
  • Mobile Banking
 N/AN/A
 
  • Transfer transaction
Free of charge  
 
  • Payment transaction
Free of charge  
 
  • Cash transaction
Free of charge  
 Ÿ
  • Funds transfer to a local Visa card
MUR 20 per transfer  
 
  • Funds transfer to a Visa card abroad
MUR 20 per transfer  
 
  • ATM transaction
Free of charge  
 
  • Duplicate statement of account
  N/A
 
  • Request for duplicate documents [including copy of IBAN, SWITFT transfer,BOOK transfer, statement of account] Note: In case the retrieval of documents needs to be done manually, the followinf pricing will apply: MUR 200 + MUR 10 per additional page
50 + Rs 10 per additional page50 + Rs 10 per additional page 
 
  • Statement of account or other documents (including copy of IBAN, SWIFT Transfer, Book Transfer) available on:
   
 
  • Electronic archives
15 + Rs 5 per page15 + Rs 5 per page 
 
  • Manual archives
100 + Rs 5 per page100 + Rs 5 per page 
 
  • Escheated Accounts (Abandoned Funds)
   
 
  • Processing fee before funds are transferred to Bank of Mauritius
200200N/A
 
  • Standing instructions/ Standing orders
  N/A
 
  • Internal transfer
8 8 
 
  • Transfer to other banks
3030 
 
  • Failed standing order
100100 
 
  • Direct debit
  N/A
 
  • Direct debit in favour of CEB, CWA & Mauritius Telecom as beneficiaries
66 
 
  • Direct debit in favour of other companies
88 
 
  • Failed direct debit
100100 
 
  • Purchase of foreign cheques/ bank drafts
200/ 300 (8)200/ 300 (8)N/A
 Note 8: Depends whether payment is made by debit of account/ cash/ cheque   
 
  • Office cheque issuance
150/ 200 (9)150/ 200 (9)N/A
 Note 9: Depends whether payment is made by debit of account/ cash   
 
  • Cheque returned/ Dishonoured cheque
 250250N/A
 
  • Stop payment orders/ Stop cheque payment order
 100100N/A
 
  • Special presentation of cheques
  N/A
 
  • To local banks
    (minimum amount of Rs 200,000)
100 per cheque100 per cheque 
 
  • From local banks
    (minimum amount of Rs 200,000)
150 per cheque150 per cheque 
 
  • MCB cheques credited to MCB accounts
    (minimum amount of Rs 50,000)
100 per cheque100 per cheque 
 
  • Cheques paid over the counter within one-month period:
  N/A
 
  • First 50 cheques
Free of chargeFree of charge 
 
  • For each additional cheque cashed within same period
20 per cheque 10)20 per cheque 10) 
 Note 10: Fee will be charged to the drawer's account on the 5th of each month for cheques cashed during the previous month, if applicable   
 
  • Safe deposit lockers
1,000 - 5,000 (11) + VAT1,000 - 5,000 (11) + VATN/A
 Note 11: Annual rental fee varies according to type of locker   
 
  • Night safe
   
 
  • Annual rental fee on first wallet
150 150 
 
  • Annual rental fee on each additional wallet up to 3 100
100 N/A 
 
  • Annual rental fee on each wallet in excess of 4
150150