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SBM TOWER
1, Queen Elizabeth II Avenue Port Louis, MAURITIUS
(+230) 202 1111
sbm@sbmgroup.mu
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SBM TOWER
1, Queen Elizabeth II Avenue Port Louis, MAURITIUS
(+230) 202 1111
sbm@sbmgroup.mu
Bank of Mauritius Template on Fees, Charges and Commission 
Statement of Principal Interest Rates and Service Charges
For Domestic Operations

Last Updated on 1st October 2024 
  Individuals Corporates Others
A INTEREST RATES
1 Deposits N/A
x Savings Account 2.60% p.a. payable half yearly  N/A   
x SBM Amigos Account

Balance < Rs. 50,000 Savings Rate + 0.05%: 2.65%

Rs. 50,000 ≤ Balance < Rs. 500,000 Savings Rate + 0.15%: 2.75%

Rs. 500,000 ≤ Balance ≤ Rs. 1,000,000 Savings Rate + 0.25%: 2.85%

Balance > Rs. 1,000,000

On first Rs. 1,000,000 Savings Rate + 0.25%: 2.85%

On incremental balance above MUR 1,000,000 Savings Rate + 0.05%: 2.65%

  		   
x SBM Senior Citizens Savings Account 2.75% (0.15% above normal savings rate and payable monthly)  N/A   
x Super Savings*

Savings rate on first MUR 1,000,000
2.75% on incremental balances above
MUR 1,000,000 (0.15% above Savings Rate)

*Products are no longer on offer and rates apply to existing accounts only
  		   
x SBM All-In-One Account 0.25% p.a. payable monthly on balance above the initial balance of Rs. 10,000  N/A   
x Call (FCY) N/A (Negative interest rates may apply to certain Foreign Currency Call Deposits)   
x Term (MUR)
12 months  0.20% above savings rate  
24 months  0.40% to 0.55% above savings rate  
36 months  0.60% to 0.75% above savings rate  
Please contact your Relationship Officer for indicative rates 
 
 
 
x Term (FCY) Rates available on request   
2 Credit facilities (MUR) N/A
x Prime Lending Rate 6.55% p.a.   
x Credit cards
Purchase 24% p.a
Cash advance
Purchase Visa Business: 15% p.a. MasterCard World Elite: 24% p.a.
Cash advance
 
x Other credit facilities margin over PLR As per arrangement   
3 Credit facilities (FCY) N/A
x Margin over relevant reference rate As per arrangement   
B DEPOSITS
4 Savings Account N/A
x Regular Savings Account
Minimum amount for opening of account  Rs 5,000 
Minimum interest bearing balance  Rs 5,000 with interest earned at normal savings rate and interest payable on half yearly basis 
N/A   
x SBM Amigos Account
Minimum amount for opening of account  Either Rs 500 or Rs 100 with a minimum monthly standing order of Rs 100 
Minimum interest bearing balance  Rs 500 with interest payable on a half-yearly basis 
Monthly Service Charges  Free 
Internal Standing Order  Free (from parent to minor account) until minor reaches maturity 
N/A   
x SBM All-In-One Account
Minimum amount for opening of account  No minimum 
Minimum interest bearing balance  Rs 10,000 with interest payable monthly at 0.25% over and above the initial balance of Rs 10,000 
N/A   
x SBM Senior Citizens Savings Account
Minimum amount for opening of account  No minimum 
Minimum interest bearing balance  No minimum balance applies for earning interest at 0.15% above normal savings rate.
Interest payable on a monthly basis 
N/A   
x Monthly service charges if credit balance falls below minimum balance N/A  N/A   
5 Current Account N/A
x Minimum amount for opening of account Rs 10,000 or equivalent for any other currency acceptable to the Bank  Rs 10,000   
x Cost of cheque book Rs 6 per leaf or depending on specifications (25 Leaves minimum)  Rs 7 per leaf or depending on specifications (25 Leaves minimum)   
x Monthly service charges Folio charge (turnover fee) of Rs 0.75 + VAT, i.e. Rs 0.86, per transaction with a minimum of Rs 100 + VAT, i.e. Rs 115 payable

Folio Charge for FCY Accounts: 0.1 + VAT per transaction for all 3 FCY currencies (USD, GBP, EUR) with a minimum of USD/GBP/EUR 10 + VAT  		 
6 Call Deposit Account (Foreign Currency) N/A
x Minimum amount for opening of account 2,000 in USD / EUR / GBP or equivalent for any other currency acceptable to the Bank  USD 10,000 or equivalent for any other currency acceptable to the Bank   
x Minimum interest bearing balance N/A (Negative interest rates may apply to certain Foreign Currency Call Deposits)   
x Monthly service charges Free   
x Processing fee 1% (maximum of USD 130 or equivalent) on deposits in bank notes, provided transaction is acceptable to the bank  1% on deposits in bank notes, provided transaction is acceptable to the bank   
x Charges on withdrawal in notes 1% charged for USD notes or 0.50% for other currencies (maximum of USD 130 or equivalent and subject to availability)  1% charged for USD notes or 0.50% for other currencies (subject to availability)   
7 Term Deposit (MUR) N/A
x Minimum Deposit Amount Rs 100,000 (except where deposit is being pledged for credit facilities, guarantees, lower amount can be considered) 

Corporate: Rs 100,000

SME: Rs 50,000

  		 
x Deposit withdrawn before maturity If within 3 months of date of deposit - Interest forfeited

If after 3 months of date of deposit - Interest penalty will be at the rate on offer for the premature tenor (period during which deposits remained in our books), at time the initial deposit was made, minus 1 % or the cost incurred by the bank for replacement of the deposit, whichever is higher  		 
8 Term Deposit (FCY) N/A
x Minimum Deposit Amount 5,000 in USD / EUR / GBP or equivalent for any other currency acceptable to the Bank   
x Deposit withdrawn before maturity Interest may be forfeited if funds are withdrawn within 3 months of date of deposit

If within 3 months of date of deposit - Interest forfeited

If after 3 months of date of deposit - Interest penalty will be at the rate on offer for the premature tenor (period during which deposits remained in our books), at time the initial deposit was made, minus 1 % or the cost incurred by the bank for replacement of the deposit, whichever is higher  		 
x Processing fee 1% (maximum of USD 130 or equivalent) on deposits in bank notes, provided transaction is acceptable to the bank  1% on deposits in bank notes, provided transaction is acceptable to the bank   
x Charges on withdrawal 1% charged for USD notes or 0.50% for other currencies (maximum of USD 130 or equivalent and subject to availability)  1% charged for USD notes or 0.50% for other currencies (subject to availability)   
9 Private Banking & Private Wealth N/A
x Private Banking
Nominal monthly service fee

Mauritian

Individual Account: Rs. 300 + VAT, i.e Rs. 345

Couple Account: Rs. 400 + VAT, i.e Rs. 460

 

Foreigner

Individual Account: Rs. 500 + VAT, i.e Rs. 575

Couple Account: Rs. 600 + VAT, i.e Rs. 690
x Private Wealth
Nominal monthly service fee

Mauritian

Individual Account: Rs. 400+ VAT, i.e Rs. 460

Couple Account: Rs. 500 + VAT, i.e Rs. 575

 

Foreigner

Individual Account: Rs. 500 + VAT, i.e Rs. 575

Couple Account: Rs. 600 + VAT, i.e Rs. 690
C CREDIT FACILITIES
10 Credit Card N/A
x Membership / Joining fee ( Visa Electron Card, Visa Classic & MasterCard, Visa Gold Card, Sky-Smiles, Visa Platinum Card, MasterCard World Rewards) Free  Setup Fee for Business Cards: Rs 1,500 + VAT, i.e. Rs 1,725   
x Annual fee for Primary Card
Visa Electron Card  Rs 200 + VAT, i.e. Rs 230 per card 
Visa & MasterCard Classic  Rs 200 + VAT, i.e. Rs 230 per card 
Visa & MasterCard Classic  Rs 800 + VAT, i.e. Rs 920 per card 
Visa & MasterCard Classic  Rs 900 + VAT, i.e. Rs 1,035 per card 
Visa Platinum  Rs 1,500 + VAT, i.e. Rs 1,725 per card 
MasterCard World Elite  Rs. 3,347.83 + VAT i.e. Rs. 3,850 ; USD 95.65 + VAT i.e. USD 110 ; EURO 82.61 + VAT i.e. EURO 95 
Asia Prestige Card  CNY 575 + VAT i.e CNY 661.25 
   
Visa Business Card: Rs 300 + VAT, i.e. Rs 345 per card MasterCard World Elite: Rs 3,347 + VAT, i.e Rs3,850
USD 97.65 + VAT, i.e USD110
EURO 82.61 + VAT, i.e EURO 95  		 
x Annual fee for Supplementary Card
Visa Electron Card  Rs 100 + VAT, i.e. Rs 115 per card 
Visa & MasterCard Classic  Rs 100 + VAT, i.e. Rs 115 per card 
Visa & MasterCard Gold Card  Rs 400 + VAT, i.e. Rs 460 per card 
Visa Sky-Smiles  Rs 450 + VAT, i.e. Rs 517.50 per card 
Visa Platinum Card  Rs 750 + VAT, i.e. Rs 862.50 per card 
MasterCard World Elite  Rs 1673.91 + VAT i.e. Rs 1925 ; USD 47.83 + VAT i.e. USD 55 ; Euro 41.74 + VAT i.e. Euro 48 
Asia Prestige Card  CNY 287.50 + VAT, i.e CNY 330.63 
   
N/A   
x Replacement of lost/stolen Primary Cards
Visa Electron Card  Rs 200 + VAT, i.e. Rs 230 per card 
Visa & MasterCard Classic  Rs 200 + VAT, i.e. Rs 230 per card 
Visa & MasterCard Gold Card  Rs 300 + VAT, i.e. Rs 345 per card 
Visa Sky-Smiles  Rs 350 + VAT, i.e. Rs 402.50 per card 
Visa Platinum  Rs 400 + VAT, i.e. Rs 460 per card 
MasterCard World Elite U.S Dollar  USD 13.04 + VAT i.e. USD 15 
MasterCard World Elite Euro  Euro 11.30 + VAT i.e. Euro 13 
MasterCard World Elite Mauritian Rupee  Rs 456 + VAT i.e. Rs 525 
Visa Business Card: Rs 300 + VAT, i.e. Rs 345 per card MasterCard World Elite: Rs 456 + VAT, i.e Rs 525
USD 13.04 + VAT, i.e USD 15
EURO 11.30 + VAT, i.e EURO 13
MasterCard World Elite: Rs 456 + VAT, i.e. Rs 525  		 
x Replacement of lost/stolen Supplementary cards
Visa Electron Card  Rs 100 + VAT, i.e. Rs 115 per card 
Visa & MasterCard Classic  Rs 100 + VAT, i.e. Rs 115 per card 
Visa & MasterCard Gold Card  Rs 350 + VAT, i.e. Rs 402.50 per card 
Visa Sky-Smiles  Rs 350 + VAT, i.e. Rs 402.50 per card 
Visa Platinum  Rs 400 + VAT, i.e. Rs 460 per card 
MasterCard World Elite U.S Dollar  USD 13.04 + VAT i.e. USD 15 
MasterCard World Elite Euro  Euro 11.30 + VAT i.e. Euro 13 
MasterCard World Elite Mauritian Rupee  Rs 456 + VAT i.e. Rs 525 
MasterCard World Elite:
Rs 456 + VAT, i.e. Rs 525
USD 13.04 + VAT, i.e. USD 15
Euro 11.30 + VAT, i.e. Euro 13  		 
x Cash advance fee

2% of amount withdrawn (minimum Rs 100)

MasterCard World Elite: 2% of amount withdrawn (minimum Rs. 180, USD 5 or EURO 4.50)
Asia Prestige Card: 2% of amount withdrawal (minimum 20 CNY)

 

 

  		 
x Late Payment

Rs 225

MasterCard World Elite U.S Dollar: USD 10, EURO 9, Rs. 360
Asia Prestige Card: CNY 45

  		 
x Overlimit fee

Rs 225

MasterCard World Elite U.S Dollar: USD 10, EURO 9, Rs. 360
Asia Prestige Card: CNY 45

  		 
x PIN Replacement

Rs. 50+ Vat i.e. Rs. 57.50

MasterCard World Elite: Rs. 70 + VAT, i.e. Rs.80.50,
                                          USD 2 + VAT, i.e. 2.30 &
                                          EURO 1.75 + VAT, i.e. EURO 2.01

  		 
x Increase in Limit Fee Free  Rs 100   
11 Loans and Advances N/A
x Processing fee
Loans fully secured by cash collateral   1% of facility amount. Minimum Rs 1,000 Maximum Rs 5,000  
Unsecured Loans  1% of facility amount or as per agreement (minimum Rs 1,000, maximum Rs 50,000) 
Secured Loans  1% of facility amount or as per agreement (minimum Rs 2,000, maximum Rs. 200,000) 
1% of facility amount or as per agreement
0.50% of facility amount for renewal of facility
Minimum: Rs. Rs 5,000
Maximum: Rs. Rs 100,000
0.25% of facility amount for temporary banking facility
Minimum: Rs. 5,000
Maximum: Rs. 100,000
Rs. 250 for extension of Import Loan

0.25% of facility amount for temporary banking facility
Minimum: Rs 5,000
Maximum: Rs 100,000

Rs 250 for extension of Import Loan  		 
x Arrangement fee N/A  0.50% to 1%   
x Ledger fee Rs 100 + VAT, Rs 115 per month   
x Rescheduling fee
(Applicable to non-impaired loan rescheduled more than 2 times) 		1% of remaining loan amount (Min. Rs.1,000, Max. Rs. 10,000)   
x Commitment fee
SBM Achiever loan  1% is charged per annum in advance on any undrawn balance after 3 months as from date moratorium ends or as specified in the facility agreement 
Mortgage loan  1% is charged per annum in advance on any undrawn balance as from date moratorium ends or as specified in the facility agreement 
Other loan  1% is charged per annum in advance on any undrawn balance after 3 months as from date of sanction or as specified in the facility agreement 
1% of undrawn balance after 3 months and 1% of any subsequent period of
12 months  		 
x Early repayment fee
Applicable to mortgage / housing / consumer loan 
In respect of individual (as defined by the bank) only 

Loans availed prior to 01 Jan 2014: A flat fee of 1% on prepaid capital amount shall be charged

Loans availed after 01 Jan 2014: No fee applicable

 
Other than individual (as defined by the bank) only 

1% p.a. on amount paid in advance over the residual lifetime of the loan with a minimum of Rs 1,000, whichever is higher

 
For facilities governed by the Borrower Protection Act  No early repayment fee is charged 

1% p.a. on amount paid in advance over the residual lifetime of the loan with a minimum of Rs 20,000, whichever is higher

No early repayment fee is charged

  		 
x Valuation survey & report fee (immovable property) 0.75% of loan amount with a minimum of Rs. 3,450 and a maximum of Rs. 7,500 or as prescribed by valuer, whichever is higher 

0.50% of loan amount with a minimum of Rs. 5,000 or as prescribed by valuer

  		 
x Legal charges for creation of security documents for banking facilities Legal fees charged by Legal Counsel/Attorney/Notary (where applicable)

Change in security involving legal charge: 1% rounded to the next Rs100 subject to a minimum of Rs 1,000 and a maximum of  Rs. 100,000

Legal charges (for creation of security documents): Erasure of charge (full and partial): Rs 300 / Rs. 1,000 per charge

  		 
x Erasure of charges Government fees + Rs 300 commission per charge

Erasure of charge (full and partial):
Rs. 1,000 per charge. Additional
Rs. 500 in case of complexity  		 
12 Guarantees N/A
x Performance bonds

1.50% of amount p.a. for the first Rs 5m plus 1% p.a. for any extra amount over Rs 5m (minimum Rs 2,000)

  		 
x Tender bonds

For the first 6 months: flat fee of 1%

For each additional period of 3 months or part thereof: For each additional period of 3 months or part thereof:
flat fee of 0.25% (minimum Rs. 1,000) plus 1% p.a. for any extra amount over Rs. 5m (minimum Rs. 2,000)

  		 
x Advance payment bonds

2% p.a. (minimum Rs 1,000)

  		 
x Retention money bonds / guarantees

1.50% of amount p.a. for the first Rs. 5Mn plus 1% p.a. for any extra amount over Rs. 5Mn (minimum Rs. 2,000)

  		 
x Shipping guarantee (on the original issue of a bank guarantee covering missing Bill of Lading)

Rs 800 at time of issue & if not returned within one month, Rs 300 will be charged monthly thereafter until receipt of original Bill of Lading

  		 
D GENERAL SERVICES
13 Treasury Bills N/A
x Minimum account opening balance

Not applicable

  		 
x Transaction fee
   
   
   

Not applicable

  		 
14 Debit Cards  
x Annual fee

Free

  		N/A 
x Replacement of lost / stolen cards

Rs. 100 + VAT i.e. Rs. 115

  		 
x Withdrawals

SBM ATM

 

Free

  		 
Non-SBM ATM, including overseas ATM  Rs 75 per transaction   
15 Prepaid Cards  
   
MUR  USD  EUR  SGD  AUD  RMB   
 
x Account fee
Rs 100 + VAT, i.e. Rs 115  USD 7 + VAT, i.e. USD 8.05  EUR 5 + VAT, i.e. EUR 5.75  SGD 8.50 + VAT, i.e. SGD 9.78  AUD 7 + VAT, i.e. AUD 8.05  RMB 40 + VAT, i.e. RMB 46   
 
x Replacement Card fee Rs 200 + VAT, i.e. Rs 230   
x Cash withdrawal fee at SBM ATM Free   
x Cash withdrawal fee at non-SBM ATM including overseas ATM
Rs 75  USD 2.50  EUR 2  SGD 3  AUD 2.50  RMB 15   
 
x Reloading
Rs 50  USD 2  EUR 2  SGD 2  AUD 2  RMB 10   
 
16 Others  
x Remittances Outward Remittances   
Remittances  For SHA option ( ordering customer pays only for ordering bank’s charges)
OTC : MUR 800 ( inclusive of overseas bank charges)
IB : MUR 500 ( inclusive of overseas bank charges)

For OUR option ( ordering customer pays for ordering bank’s and correspondent bank’s charges)
OTC : MUR 800 ( inclusive of overseas bank charges) plus foreign bank charges as claimed by Correspondent.
IB : MUR 500 ( inclusive of overseas bank charges) plus foreign bank charges as claimed by Correspondent.

Full Value Payment for USD ( Guaranteed transfer amount credit) [USD only] Additional fee of USD35  		   
Commission in lieu of exchange (applicable for transactions involving same currency)  0.50%, with a minimum of USD 10 and a Maximum USD 250
(Consumer Banking - Retail Banking, Private Banking, Private Wealth)  		0.5%, with a minimum of USD 10 and a maximum of USD 75 (Corporate Banking)   
     
x MACSS transfer Over the Counter: Rs 125
Internet Banking: Rs 75  		 
x Audit confirmation certificate Rs 1,000 per certificate   
x Certificate of means Rs 300 irrespective of purpose   
x Payroll fee / Bulk transfer N/A  Transfer requests received 2 days in advance through IB – Rs. 5 per record

Normal salary bulk upload: Rs. 10 per credit

Immediate credit: 9:00 - 11:00: Rs. 25
11:00 - 14:00: Rs. 50

Payments to other local banks through MACSS are charged Rs. 75 per
credit item  		 
x Internet banking fee Free 
Viewing  Rs 300 per month per company 
Transactions  Rs 500 per month per company 
For group of companies  Above fees applies for main company + Rs 100 per month for each additional company (both for viewing purposes and for initiating transactions) 
E-Commerce  For first 2 users: USD 100 Each additional user: USD 25 
 
x Duplicate statements / instruments

For period less than 2 years: Flat fee of Rs 50 + Rs 10 per page

For period beyond 2 years: Flat fee of Rs 200 + Rs 10 per page

For period 5 - 7 years: Rs. 500 + Rs. 10 per page

 

Flat fee of Rs 50 + Rs 15 per page

Duplicate Trade Finance advice: Rs 100

Manual archives: Rs 100 + Rs 15 per page

  		 
x Standing orders Credited to same bank  Rs. 8   
Credited to another bank  Rs 30 to transfer to an account
Rs 150 if remittance is by Banker's cheque  		Rs 40   
x Direct debit In favour of CWA, CEB, Mauritius Telecom, MTML and Emtel: Rs 6 per item
In favour of other companies: Rs 8 per item
Senior Citizens Account: free for CWA, CEB and Mauritius Telecom (provided bills are in the name of account holder)
Unpaid direct debit due to insufficient funds: Rs. 150  		 
x Purchase of drafts / cheques on collection Rs 300 per cheque upfront + overseas bank charges (where applicable)   
x Office cheque issuance By debit from SBM  Rs 150 per cheque  Rs 150 per cheque   
Through cash payment  Rs 150 per cheque  N/A   
x Cheque returned Inward  Rs 300 (per cheque returned unpaid for financial reasons on drawer's account)   
Outward  Rs 50 (per cheque deposited and returned unpaid on drawee's account)   
x Stop payment instruction Rs 100 per request  Rs 125 per request   
x Safe deposit locker Size (cm)  Yearly Rental   
12 X 12  Rs 3,500 + VAT, i.e Rs 4,025   
25 X 7  Rs 4,500 + VAT, i.e Rs 5,175   
25 X 12  Rs 5,500 + VAT, i.e Rs 6,325   
25 X 25  Rs 6,500 + VAT, i.e Rs 7,475   
x Night Safe N/A   
x SBM BILLPAY
On ATM  Rs 2 per bill, Rs 7.50 per bill (for MRA payment) 
On POS  Free 
Through mobile  No fee except cost of SMS 
N/A