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  Bank of Mauritius Template on Fees, Charges and Commissions   
 
 
AFRASIA BANK LIMITED
Statement of Principal Interest Rates and Service Charges 1  (Updated on 21 October 09)
For domestic operations
           
      Individuals   Corporates Others
   
A   INTEREST RATES        
1   Deposits        
  • Current 0.25%   0.25%  
  • Savings 4.50 - 5.50%   4.50 - 5.50% n/a
  • Call n/a    5.25% n/a
  • Term (MUR) 5.90 - 10%    5.90 - 10%  n/a 
  • Term (FCY) USD  up to 2.50%   up to 2.50% n/a
    Term (FCY) EUR  up to 2%   up to 2% n/a
2   Credit facilities (MUR)        
  • Prime Lending Rate 8.50%   8.50% n/a
  • Credit cards - Titanium 20% p.a   n/a  n/a
    Credit cards - Gold 24% p.a   n/a  n/a
  • Other credit facilities - margin over PLR - General range, subject to negociation  - 0.5% to 6%    - 0.5% to 6% n/a
3   Credit facilities (FCY)        
  • Margin over LIBOR - General range, subject to negociation 0.65% - 4%   0.65% - 4% n/a
   
B   DEPOSITS        
4   Savings Account        
  • Minimum account opening balance MUR 10,000   MUR10,000  n/a 
  • Minimum credit balance to earn interest MUR 10,000   MUR 10,000 n/a 
  • Monthly service charges if credit balance falls below minimum balance free   free n/a 
5   Current Account        
  • Minimum account opening balance MUR 10,000   MUR 10,000 n/a 
  • Minimum interest earning balance MUR 50,000   MUR 250,000  
  • Cost of cheque book   Free for the first 25 leaves per month.   MUR 2.50 per leaf n/a 
  • Monthly service charges   MUR 0.60+ VAT per transaction,  min MUR 100+ VAT   MUR 0.60+ VAT per transaction, min MUR 100+ VAT n/a 
6   Call Deposit Account        
  • Minimum balance n/a   no minimum N/A
  • Minimum credit balance to earn interest n/a   MUR 2,000,000 N/A
  • Monthly service charges n/a   n/a  N/A
7   Term deposits (MUR)        
  • Minimum amount MUR 200,000   MUR 200,000 n/a
  • Deposit withdrawn before maturity  No interest will be payable if the deposit has been terminated within three months from date of deposit   No interest will be payable if the deposit has been terminated within three months from date of deposit n/a
      If termination occurs after three months, the rate of interest will be adjusted at a rate to be decided by the bank to reflect the actual tenor of the deposit and the fact that the contract is being terminated in advance.   If termination occurs after three months, the rate of interest will be adjusted at a rate to be decided by the bank to reflect the actual tenor of the deposit and the fact that the contract is being terminated in advance. n/a 
8   Term deposits (FCY)        
  • Minimum amount USD 10,000 equivalent   USD 10,000 equivalent n/a 
  • Deposit withdrawn before maturity  No interest will be payable if the deposit has been terminated within three months from date of deposit   No interest will be payable if the deposit has been terminated within three months from date of deposit n/a 
      If termination occurs after three months, the rate of interest will be adjusted at a rate to be decided by the bank to reflect the actual tenor of the deposit and the fact that the contract is being terminated in advance.   If termination occurs after three months, the rate of interest will be adjusted at a rate to be decided by the bank to reflect the actual tenor of the deposit and the fact that the contract is being terminated in advance. n/a 
9   Foreign Currency Account      
  • Minimum balance        
    • Euro Equivalent to USD 2,000   Equivalent to USD 2,000  
    • Pound Sterling    
    • US Dollar   n/a 
  • Minimum credit balance to earn interest USD 2,000 equivalent    USD 2,000 equivalent n/a 
  • Monthly service charges free   free n/a 
   
C   CREDIT FACILITIES        
10   Credit Cards - Titanium        
  • Annual fee MUR 2,400 + vat p.a    n/a  n/a
  • Replacement of lost/stolen cards MUR 500 + vat for primary and supplementary card   n/a  n/a
  • Cash advance fee  2% of amount withdrawn (Min MUR 100)   n/a  n/a
  • Overlimit fee MUR 200   n/a  n/a
             
    Credit Cards - Gold        
  • Annual fee MUR 700 + vat p.a    n/a  n/a
  • Replacement of lost/stolen cards MUR 300 + vat for both primary and supplementary card.   n/a  n/a
  • Cash advance fee  2% of amount withdrawn (Min MUR 100)   n/a  n/a
  • Overlimit fee MUR 200   n/a  n/a
11   Loans and advances        
  • Processing fee  1% of the facility ( min MUR 1,000 Max MUR 25,000)   1% of the facility  ( min MUR 1,000 Max MUR 25,000) n/a 
  • Arrangement fee n/a    As per sanction letter- From 0.5-1.5% n/a 
  • Ledger fee free   free n/a 
  • Commitment fee free   As per sanction letter- Max 1% n/a 
  • Early redemption/prepayment fee As per sanction terms.   Up to facility of MUR 5.0M (1% p.a) or as per sanction terms n/a 
  • Valuation Survey & Report fee     As per valuer's fees depending on projects   As per valuer's fees depending on projects  
  • Legal charges for creation of security documents paid to notery 0.5% of facility (max amount MUR 50,000)   0.5% of facility (max amount MUR 50,000)  
    ·   Registration Fixed/Floating Charges MUR 1,000 - 50,000   MUR 1,000 - 50,000 n/a 
    ·    Registration Gages sans deplacement MUR 1,000 - 50,000   MUR 1,000 - 50,000 n/a 
    ·    Erasure of charges MUR 200   MUR 200 n/a
    ·    Search fees MUR 150   MUR 150 - 650 n/a 
12   Guarantees        
  • Performance bonds 1.25% p.a min MUR 500   1.25% p.a min MUR 500 n/a
  • Tender/bid bonds 1% flat for first 6 months (Min MUR 500)   1% flat for first 6 months (Min MUR 500) n/a
  • Advance payment bonds 1% p.a. (Min MUR 500)   1% p.a. (Min MUR 500) n/a
  • Retention money bonds / guarantees 1.75% p.a. (Min MUR 500)   1.75% p.a. (Min MUR 500) n/a
  • Shipping guarantee 1.5% p.a. (Min MUR 500)   1.5% p.a. (Min MUR 500) n/a
   
D   GENERAL SERVICES        
13   Treasury Bills        
  • Account opening fee n/a   n/a n/a
  • Transaction fee 0.25% of Nominal Amount with a minimum fee of Rs2,500   0.25% of Nominal Amount with a minimum fee of Rs2,500 0.25% of Nominal Amount with a minimum fee of Rs2,500
14   Debit Cards        
  • Annual fee n/a   n/a n/a
  • Replacement of lost/stolen cards n/a   n/a n/a
  • Withdrawals n/a   n/a n/a
    ·    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
15   Others        
  • Telegraphic transfer - Outward MUR 300 + any other bank charges where applicable   MUR 300 + any other bank charges where applicable n/a
  • MACSS facility MUR 100   MUR 100 n/a
  • Audit confirmation certificate MUR 500   MUR 500 n/a
  • Testimonial/Banker’s reference fee MUR 100   MUR 1,000 n/a
  • Letter of reference free   free n/a
  • Payroll fee n/a   Rs100 per diskette/ Rs5 per item if manual   
  • Internet banking fee free for both view and transact.   free for both view and transact. n/a
  • Duplicate statement of account Free   Free  
  • Standing Instructions        
    ·    Internal transfer Free   Free n/a
    ·    Transfer to other banks In client's name (free+ MACSS transfer) Third party (MUR 25)   In client's name (MUR 25) Third Party (MUR 25) n/a
  • Direct debit n/a   n/a n/a
  • Purchase of foreign cheques/bank drafts MUR 100 + overseas bank charges where applicable    MUR 100 + overseas bank charges where applicable  n/a
  • Office cheque issuance MUR 100   MUR 100 n/a
  • Cheque book facility Free for the first 25 leaves per month   MUR 2.50 per leaf n/a
  • Cheque returned        
    · Inward n/a   MUR 25 n/a
    · Outward MUR 100   MUR 100 n/a
  • Stop payment orders MUR 100   MUR 100 n/a
  • Safe deposit lockers n/a   n/a n/a
  • Night safe n/a   n/a n/a
 
 
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