Statement of Principal Interest Rates and Service Charges for domestic operations
(last updated on 6 October 2017)

  • A - Interest rates

        Individuals Corporates
    1 Deposits
      Savings Up to 1.80% per annum depending on Savings Account type Rates available on request
      Call 1.15% Rates available on request
      Term (MUR) Fixed Rates available Rates available on request
      Term (FCY) Fixed Rates available Rates available on request
     
    2 Credit Facilities (MUR)
      Prime Lending Rate (PLR) 6.25% 6.25%
      Credit Cards 2.13% 2.13%
      Other credit facilities - margin over PLR    
      > Overdrafts Between PLR + 6.25% and PLR + 8.25 % PLR + Applicable margin
      > Unsecured Loans Between 8% and 16% N/A
      > Secured Loans As from 8% PLR + Applicable margin
      > Home Loans Between PLR -1.45% and PLR +0.50% N/A
      > Equity Loans Between PLR - 0.95% and PLR + 1% N/A
     
    3 Credit services (FCY)
      Margin over LIBOR N/A LIBOR + Applicable margin
  • B - Deposits

        Individuals Corporates
    4 Savings Accounts
      Easy Start Savings Account (No more on offer as new)
      > Minimum Account Opening Balance
    MUR 10,000 N/A
      > Minimum Credit Balance to earn interest
    MUR 10,000 N/A
      > Minimum Operating Balance MUR 10,000 N/A
      > Monthly Operating Balance Fee (if average credit balance falls below minimum operating balance) MUR 100 N/A
       
      Instant Savings Account
      >Minimum Account Opening Balance
    MUR 10,000 N/A
      > Minimum Credit Balance to earn interest
    MUR 10,000 N/A
      > Minimum Operating Balance MUR 10,000 N/A
      > Monthly Operating Balance Fee (if average credit balance falls below minimum operating balance) MUR 100 N/A
     
    5 Transactional Accounts
      > Minimum Account Opening Balance Up to MUR 12,000 N/A
      > Cost of cheque book Up to MUR 3 per sheet MUR 5 per sheet
      > Monthly service charges Up to MUR 575 Minimum MUR 100 per month plus VAT for Local Currency account and USD 10 per month for Foreign currency account
     
    6 Call Deposit Account No longer on offer as new
      > Minimum balance MUR 50,000 MUR 100,000
      > Minimum Credit Balance to earn interest MUR 0.01 MUR 0.01
      > Monthly service charges N/A N/A
     
    7 Term Deposits (MUR)
      > Minimum Amount MUR 250,000 MUR 100,000
      > Deposit withdrawn before maturity
    • If within three months of date of deposit : No interest paid
    • If deposit is uplifted after 3 months of date of deposit - The penalty to apply will be at the rate on offer for the premature Tenor ( period during which deposit remained in our books), at time the initial deposit was made, Minus 0.5 % OR the Prevailing Savings Rate during the Tenor Minus 0.5 %, whichever is lower.
    If deposit is uplifted after 3 months of date of deposit - the penalty to apply would be at the rate on offer for the premature tenor (period during which deposit remained in our books), at the time of the deposit was made less 0.5%
     
    8 Term Deposits (FCY)
      > Minimum Amount USD 15,000 or equivalent USD 10,000 or equivalent (Minimum one month)
      > Deposit withdrawn before maturity
    •  If the deposit is withdrawn pre-maturely within 3 months of its start date, interests will not be paid on the deposit.
    • If the deposit is withdrawn pre-maturely after 3 months of its start date, the interests payable to the customer will be computed over the time period the deposit has been in place.
    • The interest rate applicable for the period will be the lower of the rate on offer at the time the deposit was made OR the prevailing rate at the date the deposit is uplifted.
    Applicable penalty interest will be advised at the time of early withdrawal
     
    9 Foreign Currency Account
      > Minimum Opening Balance  
      > EUR USD 2,000 or equivalent USD 2,000 or equivalent
      > Pound Sterling USD 2,000 or equivalent USD 2,000 or equivalent
      > US Dollar USD 2,000 or equivalent USD 2,000 or equivalent
      > Term Deposit in any Foreign Currency USD 15,000 or equivalent USD 10,000 or equivalent
      - Minimum Balance for interest FIXED DEPOSIT ACCOUNTS ONLY FIXED DEPOSIT ACCOUNTS ONLY
      - Monthly service charges 1 GBP or Equivalent (monthly) USD 10 equivalent (monthly)
  • C - Credit facilities

        Individuals Corporates
    10 Loans and Advances
      Processing Fee 1% of loan amount Minimum MUR 5,000 and Maximum MUR 50,000 for Mortgage Loans
    1.5% of loan amount Minimum MUR 2,500 for Personal Loans
    1% of Loan amount (Minimum MUR 1000) OR as per loan contract
      Ledger Fee MUR 60 per month VAT inclusive MUR 60 per month VAT inclusive
      Commitment Fee 1% undrawn balance after three months and 1% of any subsequent period of 12 months 1.0% of undrawn balance or as per the Loan Contract
      Early redemption/prepayment Fee N/A 1% p.a. on amount paid in advance over the residual lifetime of the loan with a minimum of MUR 20,000 whichever is higher (early repayment fee is not applicable for loans under the Borrower Protection Act – credit facilities less than MUR 3,000,000)
      Valuation Survey & Report Fee MUR 200 + Valuer's fee As per Valuer’s fee
      Search Fee
      > Simple MUR 150
    MUR 1,000
      > Complex MUR 150 (for complex cases where the search report reveals more than 20 transcriptions and inscriptions, fees can go up to Rs250)
    Minimum MUR 1,500
      > Capital Search Free of charge Free of charge
      > Registration Fee As Levied by Registrar Office/National Transport Authority N/A
      Legal charges for creation of security documents
      > Security charges MUR 1,500 MUR 1,500
      > Gages Sans Deplacement Up to MUR 1,000 MUR 1,000
      > Life policy, stocks and shares MUR 750 MUR 750
      > Personal Guarantee MUR 750 MUR 750
      > Part Erasure (Degrevement) MUR 500 MUR 500
      > Pari Passu Free Minimum MUR 1,000
      > Erasure of charges Up to MUR 100 per charge MUR 100
     
    11 Guarantees
      Shipping Guarantees MUR 2,000 MUR 2,000
      Performance Bond 1.5% of amount per annum for the first MUR 5,000,000 (Minimum MUR 1,000) Plus 1% per
    annum for any extra amount over MUR 5,000,000
    1.5% of amount per annum for the first MUR 5,000,000.
    Plus 1% per annum for any extra amount over MUR 5,000,000 (Minimum MUR 1,500)
      Tender Bond 1% of amount for the first 6 months or part thereof (Minimum MUR 1,000) 0.25% of amount
    for each additional period of three months or part thereof (Minimum MUR 1,000)
    1% of amount for the first 6 months or part thereof (Minimum MUR
    1,000) 0.25% of amount for each additional period of three months or
    part thereof (Minimum MUR 1,000)
      Aval of negotiable instrument 2% of amount per annum (Minimum MUR 1,000) 2% of amount per annum (Minimum MUR 1,000)
      Advance payment bonds 2% of amount per annum (Minimum MUR 1,000) 1% of amount per annum (Minimum MUR 1,500)
      Retention bonds 2% of amount per annum (Minimum MUR 1,000) 2% of amount per annum (Minimum MUR 1,500)
      Payment Guarantees 2% of amount per annum (Minimum MUR 1,000) 2% of amount per annum (Minimum MUR 1,000)
      Customs Guarantee 1.5% of amount per annum (Minimum MUR 1,000) 1.5% of amount per annum (Minimum MUR 1,500)
     
      Guarantees in favour of Corporate/Government bodies for loans disbursement 2% of amount per annum (Minimum MUR 1,000) 2% of amount per annum (Minimum MUR 1,500)
      Other Guarantees 2% of amount per annum (Minimum MUR 1,000) 2% of amount per annum (Minimum MUR 1,000)
      Immigration Bond 1.5% of amount per annum (Minimum MUR 1,000) 1.5% of amount per annum (Minimum MUR 1,000)
      Financial Standing MUR 5,000
    MUR 5,000
     
      Amendments to Guarantees
      > Amount/Period etc Issuance charges apply
    Issuance charges apply
      > Other

    MUR 500

     

    MUR 500
      > Processing of Claim - Inward Guarantees MUR 1,000 MUR 1,000
      > Advising of Inward Guarantee MUR 1,000 MUR 1,000
     
      Documentary Letters of Credit Inward
      For advising a credit without adding confirmation N/A MUR 1000
      Adding confirmation N/A According to country and bank risk profile
      Transfer of Credit - Beneficiary Inside Mauritius N/A 0.25 % of amount; minimum MUR 1,000 plus SWIFT charges MUR 250
      Transfer of Credit - Beneficiary Outside Mauritius

    N/A 0.25 % of amount Minimum MUR 1,000 plus SWIFT charges MUR 500
      Un-utilised fee (if credit is 100% not utilised) N/A MUR 1000
      Cancellation N/A Free of charge
      Pre-Advice N/A MUR 400
      Advising an amendment N/A MUR 400
      Postage / Courier Services N/A MUR 750
      Payment / Negotiation Commission - in FCY N/A 0.125% of amount Minimum MUR 500 plus handling fee
      Payment / Negotiation Commission - in MUR N/A 0.50% of amount Minimum MUR 500 plus handling fee
      Draft/Document Acceptance N/A MUR 500
      Handling Fees N/A MUR 500
      Local Fees N/A MUR 200
      Swift Charges N/A MUR 250
      Documentary Letters of Credit Outward
      Opening Commission / Extension advised N/A 0.5% of amount for the first six months or part thereof (Minimum MUR 1500)
      Amount Increased Commission
    N/A 0.25% of amount for each additional quarterly period or part thereof (Minimum MUR 750) plus SWIFT charges MUR 500
      Acceptance/Deferred payment N/A 0.125% of amount per month or part thereof (Minimum of MUR 500)
      Payment N/A 0.25% of amount (Minimum MUR 1000) plus SWIFT charges MUR 250
      Amendments N/A MUR 500 plus SWIFT charges MUR 250
      SWIFT charges Letter of Credit (LC) opening N/A MUR 500
      SWIFT charges Letter of Credit (LC) amendments & other messages N/A MUR 250
      Discrepancy Fee - Account Beneficiary N/A USD 100
      Local Fee N/A MUR 250
      Unutilised Fee N/A MUR 1,000
      Cancellation Fee N/A MUR 1,000
      Revolving Letter of Credit (LC) N/A 1% of amount per annum (Minimum MUR 5,000)
      Bills for Collection - Inward / Imports
      Inward Bill for Collection Commission - Foreign N/A 0.5% of amount (Minimum MUR 1,000) plus SWIFT postage and local fee
      Inward Bill for Collection Commission - Local N/A 0.5% of amount (Minimum MUR 1,000) plus SWIFT, postage and local fee
      Postage Fee N/A MUR 100
      Local Fee N/A

    MUR 250

      Swift Charges Fee N/A MUR 250
      Fee for conversion of documents against payment (D/P) Tenor to
    Documents against acceptance (D/A) Tenor or extension of payment
    N/A 0.5% of amount (Minimum MUR 1,000)
      Commission on Unpaid bills N/A 0.5% of amount (Minimum MUR 1,000)
      Commission on Overdue bills N/A MUR 500 fortnightly
      Endorsement/Avalisation of bills N/A 2 % per annum (minimum MUR 1,000)
      Bills for Collection - Outward / Exports
      Outward Bills for collection commission N/A 0.5% of amount (Minimum MUR 1,000)
      Commission on Unpaid bill N/A 0.5% of amount (Minimum MUR 1,000)
      Local Fee N/A MUR 250
      Handling Fees N/A MUR 500
      SWIFT charges N/A MUR 250
      Postage/Courier Services N/A As per courier charges
      Bills Discounted / Invoice Discounted
      Foreign Currency bills N/A Libor plus applicable risk margin plus handling fees
      Local Currency bills PLR plus applicable risk margin plus handling fees PLR PLUS applicable risk margin plus handling fees
      Foreign Currency invoices N/A Libor plus applicable risk margin plus handling fees
      Local Currency invoices PLR plus applicable risk margin plus handling fees PLR PLUS applicable risk margin plus handling fees
      Handling commission - Foreign Currency N/A USD 50
      Handling commission - Local Currency MUR 500 MUR 500
     
  • D - General services

        Individuals Corporates
    12 Treasury Bills
      Account Opening Fee MUR 250 MUR 250
      Transaction Fee 0.15% - 0.40%

    MUR 100,000 to MUR 499,999.99: 0.40%                                                                                 

    MUR 500,000 to MUR 2,499,999.99: 0.35%    

    MUR 2,500,000 to MUR 4,999,999.99: 0.25%  

    MUR 5,000,000.00: 0.15%                                                    

      Annual Fee N/A N/A
      Replacement Fee
    (not applicable to Platinum Debit Card)
    MUR 115 (VAT inclusive) N/A
      Withdrawals
    (not applicable to Platinum Debit Card)
      N/A
      > Bank's ATM Free N/A
      > Other bank's ATM MUR 50 N/A
      > Overseas MUR 75 N/A
      Foreign Exchange (FOREX) fee on Debit Card*
    (Applicable to all Debit Cards)
    3% N/A
       
    14 Others
      Telegraphic Transfer USD 10 or Equivalent

    USD 10 or equivalent in currency concerned

      MACSS Facility    
      > Through Internet Banking MUR 75 MUR 100
      > Over the counter MUR 125 MUR 100
      Audit confirmation certificate MUR 175 - MUR 600 MUR 1000
      Testimonial / Banker's reference fee MUR 300 MUR 300
      Letter of reference MUR 300 Mur 500 per letter
      Payroll fee - manual Free MUR 25 per entry
      Payroll fee - Electronic Banking Free MUR 10 per entry
      Internet Banking fee Free MUR 600 per month
      Duplicate statement of account Up to MUR 40 per sheet MUR 40 per sheet
      e - Statement Free Free of charge
      SWIFT Statement MT940, MT942, MT900, MT910, MT920, MT950 N/A MUR 750 per account
      Standing Instructions    
      > Another Barclays Account - excluding loans with Barclays Up to MUR 10 MUR 10
      > Transfer to other banks Up to MUR 30 MUR 30
      Unpaid Standing Order MUR 100 MUR 100
      Direct Debit (all types)
    Up to MUR 10 Up to MUR 15
      Unpaid Direct Debit MUR 100 MUR 100
      Purchase of foreign cheques/bank drafts MUR 125 + Overseas Bank Charges for foreign cheques/ drafts in: CHF: CHF 10 per item MUR 150 + Overseas bank charges as incurred
      Deposit of Foreign Currencies    
      > Notes/Travellers Cheques / Drafts 1% in lieu of exchange (minimum charge USD 10 and maximum USD 150 or equivalent).

    Notes: 1% commission in lieu of exchange on amount maximum MUR 5,000

    Travellers Cheques / drafts: 1% commission in lieu of exchange on amount deposited.

      Issue of drafts 0.5% commission in lieu of exchange (Minimum USD 25; Maximum USD 100) MUR 200
      Office cheque issuance MUR 100 to MUR 150 MUR 150
      Special Clearance Free MUR 200
      Cash Deposit fee less than MUR 50,000 N/A Free of charge
      Cash Deposit fee greater than MUR 50,000 N/A 0.2% flat
      Counter Withdrawal Fee below MUR 20,000 Up to MUR 50 MUR 50 plus plus VAT
      Cheque book facility Up to MUR 3 per sheet MUR 5 per sheet
      Cheque returned    
      > Inward MUR 25 MUR 100
      > Outward MUR 350 MUR 350
      Stop payment orders Lost/Stolen - Free
    Others - Up to MUR 100

    Lost/Stolen: MUR 100 

    Others : MUR 125

      ATM Access Fee Foreign cards MUR 120 N/A
      SMS Alert to customer Free Free
     
    15 CREDIT FACILITIES
    Credit Cards
    Type of Cards Barclaycard Platinum Barclaycard Gold Barclaycard Classic
    Interest Rate (Monthly) 2.13% 2.13% 2.13%
    Joining Fee NIL NIL NIL
    Annual Fee MUR 1725 (VAT inclusive) MUR 862.50 (VAT Inclusive) MUR 172.50 (VAT inclusive)
    Additional Cardholder Fee MUR 1150 (VAT inclusive) MUR 575 (VAT Inclusive) MUR 172.50 (VAT inclusive)
    Late Payment Fee 1% of amount due, minimum MUR 200 1% of amount due, minimum MUR 200 1% of amount due, minimum MUR 200
    Excess Limit Fee 1% of amount due, minimum MUR 200 1% of amount due, minimum MUR 200 1% of amount due, minimum MUR 200
    Cash Advance Fee 2% per transaction, minimum MUR 150
    2% per transaction, minimum MUR 150 2% per transaction, minimum MUR 150
    Returned Fee
    MUR 350 per item MUR 350 per item MUR 350 per item
    Increase Limit Fee NIL NIL NIL
    Replacement Fee MUR 200 MUR 200 MUR 200
    Interest Free Period Up to 52 days Up to 52 days Up to 52 days
    Minimum Payment 5% or minimum MUR 2,000 5% or minimum MUR 1,000 5% or minimum MUR 100
    Forex Fee 3% 3% 3%
    Instalment fee MUR 500 MUR 500 MUR 500
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