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2016

16 Sep. 2016

Interest rates & interest payment frequency

Interest rates

Special Institution Current Accounts (SICA)

  • Classic Savings rate minus 0.5% will be applied to accounts with credit balances of MUR2 million up to less than MUR10 million.
  • Classic Savings rate will be applied to accounts with credit balances of MUR10 million up to less than MUR50 million.


Spinnaker Savings Accounts

  • Classic Savings rate will continue to be applied to accounts with credit balances of MUR10,000  up to less than MUR1 million.
  • Classic Savings rate plus 0.5% will continue to be applied to accounts with credit balances of MUR1 million and above.

 
MUR current accounts

  • Private and Corporate MUR Current Accounts will cease to be remunerated.

Interest Payment Frequency

  • Interest on Classic Savings Accounts and Special Institution Current Accounts (SICA) will be paid twice yearly, on 30 June and 31 December each year.
  • Interest on Spinnaker Savings Accounts will continue to enjoy payment of interest on a monthly basis.

NB: The rate of interest on our Classic Savings account is 2.30% p.a with effect from 01 September 2016 and the minimum interest earning balance on those accounts stays at MUR10,000.

For more information, please contact us on (230) 208 5500 or email us at afrasia@afrasiabank.com.

The Management
16 September 2016