BOM Template on Fees, Charges and Commission

Bank of Mauritius Template on Fees, Charges and Commission

Statement of Principal Interest Rates and Service Charges
For Domestic Operations

Last Updated on 17 February 2025

Individuals

Corporates

Others

INTEREST RATES

Deposits

N/A

Savings Account

3.10% p.a. payable half yearly

N/A

SBM Amigos Account

Balance < Rs. 50,000 Savings Rate + 0.05%: 3.15% p.a

Rs. 50,000 ≤ Balance < Rs. 500,000 Savings Rate + 0.15%: 3.25% p.a

Rs. 500,000 ≤ Balance ≤ Rs. 1,000,000 Savings Rate + 0.25%: 3.35% p.a

Balance > Rs. 1,000,000

On first Rs. 1,000,000 Savings Rate + 0.25%: 3.35% p.a

On incremental balance above MUR 1,000,000 Savings Rate + 0.05%: 3.15% p.a

SBM Senior Citizens Savings Account

3.25% p.a (0.15% above normal savings rate and payable monthly)

N/A

Super Savings^*

Savings rate on first MUR 1,000,000
3.25% p.a 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

SBM All-In-One Account

0.35% p.a. payable monthly on balance above the initial balance of Rs. 10,000

N/A

Call (FCY)

N/A (Negative interest rates may apply to certain Foreign Currency Call Deposits)

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

Term (FCY)

Rates available on request

Credit facilities (MUR)

N/A

Prime Lending Rate

6.95% p.a.

Credit cards

Purchase	24% p.a
Cash advance

Purchase	Visa Business: 15% p.a. Visa Infinite: 24% p.a.
Cash advance

Other credit facilities margin over PLR

As per arrangement

Credit facilities (FCY)

N/A

Margin over relevant reference rate

As per arrangement

DEPOSITS

Savings Account

N/A

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

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

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 0.35% p.a over and above the initial balance of Rs 10,000

N/A

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% p.a above normal savings rate. Interest payable on a monthly basis

N/A

Monthly service charges if credit balance falls below minimum balance

N/A

Current Account

N/A

Minimum amount for opening of account

Rs 10,000 or equivalent for any other currency acceptable to the Bank

Cost of cheque book

Rs 6 per leaf or depending on specifications (25 Leaves minimum)

Rs 10 per leaf or depending on specifications (25 Leaves minimum)

Monthly service charges

Individual:
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
Corporate: Rs 0.75 + VAT, i.e. Rs 0.86, per transaction with a minimum of Rs 150 (VAT Inclusive)

Call Deposit Account (Foreign Currency)

N/A

Minimum amount for opening of account

2,000 in USD / EUR / GBP or equivalent for any other currency acceptable to the Bank

5,000 in USD / EUR / GBP or equivalent for any other currency acceptable to the Bank

Minimum interest bearing balance

N/A (Negative interest rates may apply to certain Foreign Currency Call Deposits)

Monthly service charges

Free

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

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)

Term Deposit (MUR)

N/A

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

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

Term Deposit (FCY)

N/A

Minimum Deposit Amount

5,000 in USD / EUR / GBP or equivalent for any other currency acceptable to the Bank

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

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

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)

Private Banking & Private Wealth

N/A

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

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

CREDIT FACILITIES

Credit Card

N/A

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

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
Visa Infinite	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
Visa Infinite: Rs 3,347 + VAT, i.e Rs3,850
USD 97.65 + VAT, i.e USD110
EURO 82.61 + VAT, i.e EURO 95

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
Visa Infinite	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

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
Visa Infinite U.S Dollar	USD 13.04 + VAT i.e. USD 15
Visa Infinite Euro	Euro 11.30 + VAT i.e. Euro 13
Visa Infinite Mauritian Rupee	Rs 456 + VAT i.e. Rs 525

Visa Business Card: Rs 300 + VAT, i.e. Rs 345 per card
Visa Infinite: Rs 456 + VAT, i.e Rs 525
USD 13.04 + VAT, i.e USD 15
EURO 11.30 + VAT, i.e EURO 13
Rs 50 + VAT, i.e Rs 57.50

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
Visa Infinite U.S Dollar	USD 13.04 + VAT i.e. USD 15
Visa Infinite Euro	Euro 11.30 + VAT i.e. Euro 13
Visa Infinite Mauritian Rupee	Rs 456 + VAT i.e. Rs 525

Visa Infinite:
Rs 456 + VAT, i.e. Rs 525
USD 13.04 + VAT, i.e. USD 15
Euro 11.30 + VAT, i.e. Euro 13

Cash advance fee

2% of amount withdrawn (minimum Rs 100)

Visa Infinite: 2% of amount withdrawn (minimum Rs. 180, USD 5 or EURO 4.50)

Late Payment

Rs 225

Visa Infinite U.S Dollar: Rs. 360, USD 10 or EURO 9

Overlimit fee

Rs 225

Visa Infinite U.S Dollar: Rs. 360, USD 10 & EURO 9

PIN Replacement

Rs. 50+ VAT i.e. Rs. 57.50

Visa Infinite: Rs. 70 + VAT, i.e. Rs.80.50,
USD 2 + VAT, i.e. 2.30 &
EURO 1.75 + VAT, i.e. EURO 2.01

Increase in Limit Fee

Free

Rs 100

Loans and Advances

N/A

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 150,000
0.25% of facility amount for temporary banking facility
Minimum: Rs. 5,000
Maximum: Rs. 100,000
Rs 1,000 for extension of Import Loan after the maturity date

Arrangement fee

N/A

0.50% to 1%

Ledger fee

Individual: Rs 100 + VAT, Rs 115 per month Corporate: Rs 200 + VAT, i.e. Rs 230 payable monthly

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)

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

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

For facilities governed by the Borrower Protection Act (BPA): No early repayment fee is charged

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

0.75% of loan amount with a minimum of Rs. 5,000 (inclusive of VAT) and a maximum of Rs 10,000 (inclusive of VAT) or as prescribed by the valuer, whichever is higher

Legal charges for creation of security documents for banking facilities

Legal fees charged by Legal Counsel/Attorney/Notary (where applicable)

Erasure of charge (full and partial): Rs 300 / Rs. 1,000 per charge

Erasure of charges

Individual: Government fees + Rs 300 commission per charge

Corporate:
Erasure of charge (full and partial):
Rs. 1,000 per charge.
Additional Rs. 500 in case of complexity

Guarantees

N/A

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)

Tender bonds

For the first 6 months: Flat fee of 1%

For each additional period of 3 months or part thereof: Flat fee of 0.25% (min. Rs 1,000)

Advance payment bonds

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

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)

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

GENERAL SERVICES

Treasury Bills

N/A

Minimum account opening balance

Not applicable

Transaction fee

Not applicable

Debit Cards

Annual fee

Free

N/A

Replacement of lost / stolen cards

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

Withdrawals

SBM ATM

Free

Non-SBM ATM, including overseas ATM

Rs 75 per transaction

Prepaid Cards

MUR

USD

EUR

SGD

AUD

RMB

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

Replacement Card fee

Rs 200 + VAT, i.e. Rs 230

Cash withdrawal fee at SBM ATM

Free

Cash withdrawal fee at non-SBM ATM including overseas ATM

Rs 75

USD 2.50

EUR 2

SGD 3

AUD 2.50

RMB 15

Reloading

Rs 50

USD 2

EUR 2

SGD 2

AUD 2

RMB 10

Others

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)

MACSS transfer

Over the Counter: Rs 125
Internet Banking: Rs 75

Audit confirmation certificate

Rs 1,000 per certificate

Certificate of means

Rs 300 irrespective of purpose

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

Internet banking fee

Free

Viewing	Rs 300 per month per company
Transactions	Rs 500 per month per company
For group of companies	First 2 accesses free of charge Rs 100 per month for each additional access (both for viewing purposes and for initiating transactions)
E-Commerce	For first 2 users: 100 USD. Each additional user: 25 USD

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

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

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
Unpaid direct debit due to insufficient funds: Rs. 150

Senior Citizens Account: Free for CWA, CEB and Mauritius Telecom (provided bills are in the name of account holder)

Purchase of drafts / cheques on collection

Rs 300 per cheque upfront + overseas bank charges (where applicable)

Office cheque issuance

By debit from SBM

Rs 150 per cheque

Through cash payment

Rs 150 per cheque

N/A

Cheque returned

Inward

Individual: Rs 300 (per cheque returned unpaid for financial reasons on drawer's account). Corporate: Rs 350 per cheque returned unpaid

Outward

Rs 50 (per cheque deposited and returned unpaid on drawee's account)

Stop payment instruction

Rs 100 per request

Rs 125 per request

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

Night Safe

N/A

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

CONTACT US

Service Request

*Products are no longer on offer and rates apply to existing accounts only