Exchange Rates & Tariffs | Commercial Bank

Currency Code	Buying rate	Selling Rate	USD Cross rate
Rates as at 11.06.2026
USD US Dollars *	15.41	15.42	1.00
LKR Sri Lankan Rupee	0.0459	0.0460	335.00
BDT Bangladesh Taka	0.1255	0.1256	122.75
AUD Australian Dollar	10.6329	10.9482	0.7000
EUR Euro *	17.4857	19.1547	1.1547
GBP British Pound Sterling *	20.3042	21.8286	1.3376
NZD New Zealand Dollar	8.7791	9.0932	0.5797
SGD Singapore Dollar *	11.6982	12.2158	1.2873
AED UAE Dirham	4.1841	4.2097	3.6730
CNY Chinese Yuan	2.2711	2.2793	6.7752
DKK Danish Krone	2.3772	2.3861	6.4724
HKD Hong Kong Dollar	1.9641	1.9704	7.8359
THB Thai Baht	0.4680	0.4686	32.9200
SAR Saudi Riyal	4.0946	4.1191	3.7535
IDR Indonesian Rupiah	0.0009	0.0009	17974.00
INR Indian Rupee	0.1617	0.1619	95.2650
NOK Norwegian Krone	1.6273	1.6318	9.4597
SEK Swedish Krona	1.6203	1.6247	9.5008
CAD Canadian Dollar	10.9773	11.1432	1.3938
CHF Swiss Franc	19.0623	19.5586	0.7984
MYR Malaysian Ringgit	3.7797	3.8008	4.0670
JPY Japanese Yen	0.0960	0.0961	160.50
*Currencies accepted by the Bank for cash transactions.

Foreign Currency Note:

All tariffs and charges are quoted in United States Dollars (USD). Where payment is made in British Pounds Sterling (GBP) or Euros (EUR), the numerical value of the charge shall remain the same as the USD stated - for example, a charge of USD 50 shall equally apply as GBP 50 or EUR 50. No currency conversion adjustments will be applied.

Item No.	Description	FEE/RATE (MVR)	FEE/RATE (USD)
CURRENT ACCOUNTS
1.1	Minimum amount to Open an account
	Non Personal A/C	MVR 5,000/-	USD 500/-
	Personal A/C	MVR 5,000/-	USD 500/-
1.2	Monthly Service Charge
	Non-Personal A/C – Monthly Avg. Bal < MVR 5,000/- or USD 500/-	MVR 100/- per month	USD 10/- per month
	Personal A/C – Monthly Avg. Bal < MVR 2,500/- or USD 250/-	MVR 100/- per month	USD 10/- per month
	Dormant Accounts	MVR 100/- per month	USD 10/- per month
1.3	Outward Cheque Returns
	Non-sufficient funds	MVR 750/-	USD 50/-
	Other Technical Reasons	MVR 100/-	USD 10/-
1.4	Cheque Marked for Payment (Payment Guarantee)
	(a) Inward	MVR 50/-	USD 5/-
	(b) Outward	MVR 50/-	USD 5/-
1.5	Stop payments: Per request
	Due to lack of Funds	MVR 500/-	USD 50/-
	Others	MVR 100/-	USD 10/-
1.6	Current A/C Statements – Monthly Service Charge \| e-Statements	No Charge	-
1.7	Printed copies of Statements per month	MVR 50/-	USD 5/-
1.8	Local Bills Purchased (including Pay Orders issued by other banks at Banks discretion)	0.75% of Transaction	0.75% of Transaction
1.9	Cost of Cheque Books (per cheque Book)
	50 Leaves	MVR 500/-	USD 35/-
	25 Leaves	MVR 250/-	USD 17.50/-
1.10	Closure of Current Accounts
	For bad conduct	MVR 200/-	USD 20/-
	On Customer Request	MVR 200/-	USD 20/-
	Additional fee for Unreturned Cheque Leaves (per leaf)	MVR 25/-	USD 2.50/-
1.11	Preparation of Cash Orders	0.25% of the cash Order Plus Transport Cost	0.25% of the cash Order Plus Transport Cost
1.13	Photocopy of paid cheque	MVR 50/-	USD 5/-
1.14	Regulatory enforced payments	MVR 300/-	USD 25/-
1.15	Deposit of USD 5/- currency notes or below	N/A	3%
1.16	All Types of Bank References	MVR 200/-	USD 15/-
1.17	Excess Management Fee	MVR 150/-	USD 10/-

No.	Description	FEE/RATE (MVR)	FEE/RATE (USD)
SAVINGS ACCOUNTS
2.1	Interest Rates
	Savings Accounts	1.50% p.a.	1.25% p.a.
	Children Savings	2.25% p.a.	2.00% p.a.
	Youth Savings	1.50% p.a.	1.25% p.a.
	Power Savings	Below MVR 50,000 – 2.00% p.a.	Below USD 5,000 – 1.75% p.a.
		MVR 50,000 - 250,000 – 2.25% p.a.	USD 5,000 - 25,000 – 2.00% p.a.
		Above MVR 250,000 – 2.50% p.a.	Above USD 25,000 – 2.25% p.a.
	Senior Citizens Account	2.25% p.a.	2.00% p.a.
	Rehendhi Savings Account	Below MVR 5,000 – 1.50% p.a.	Below USD 500 – 1.25% p.a.
	Rehendhi Savings Account	Above MVR 5,000 – 2.50% p.a.	Above USD 500 – 2.00% p.a.
	Smart Savings Account Note: If Passport/Work Permit/Work Visa presented to the Bank expires, interest will not be paid from the date of expiry until renewed valid documents are received.	3.00% p.a.	Product not available
2.2	Minimum amount to Open an account
	Personal Savings	MVR 500/-	USD 50/-
	Children Savings	MVR 100/-	USD 10/-
	Youth Savings	MVR 100/-	USD 10/-
	Power Savings	MVR 5000/-	USD 500/-
	Senior citizen Account	MVR 500/-	USD 50/-
2.3	Monthly Service Charge
	Personal A/C - Monthly Avg. Bal < MVR 250/- or USD 30/- (No charge for Minor accounts)	MVR 20/-	USD 2/-
	Dormant Accounts	MVR 40/-	USD 3/-
2.4	Closure of Savings Accounts	MVR 50/-	USD 5/-
2.5	Printed copies of Statements per month	MVR 30/-	USD 2/-
2.6	Regulatory enforced payments	MVR 300/-	USD 25/-
2.7	Deposit of USD 5/- currency notes or below	N/A	3%

No.	Description	FEE/RATE (MVR)		FEE/RATE (USD)
No.	Description	Counter	eFD	Counter	eFD
3.1	Interest Rates
	01 Month	1.60%	1.75%	1.35%	-
	03 Months	2.25%	2.50%	2.50%	2.60%
	06 Months	2.50%	2.60%	2.75%	2.85%
	12 Months – monthly interest	2.75%	3.00%	-	-
	12 Months – Int. at maturity	3.00%	3.10%	3.50%	3.75%
	24 Months – Int. Annually	-	-	4.00%	4.10%
	24 Months – Int. at maturity	4.00%	4.10%	-	-
	36 Months – Int. Annually	-	-	4.25%	4.35%
	60 Months – at maturity	4.25%	4.50%	4.75%	4.85%
Note: The above rates are deposits up to MVR 500,000/- (or equivalent amount of USDs). For deposits above MVR 500,000/- (or equivalent amount of USDs) or for FDs in Euro & GBP please contact the Treasury Department.
3.2	Minimum deposit	MVR 10,000/-		USD 1,000/-
3.3	Early Redemption / Withdrawal	Interest will be paid 1% below the prevailling interest rates for savings accounts for period of investments at the time of redemption.		Interest will be paid 1% below the prevailling interest rates for savings accounts for period of investments at the time of redemption.

No.	Description	FEE/RATE (MVR)	FEE/RATE (USD)
GENERAL OPERATIONS
4.1	Balance confirmations to Embassies, Auditors & Other Institutions (per confirmation) / Search fee for Tax purposes
	Non-Personal Accounts	MVR 200/-	USD 15/-
	Personal Accounts	MVR 150/-	USD 15/-
4.2	Pay Orders – Issuance (Customer Only)	0.5% (Max MVR 3,000/- Min MVR 25/-)	0.5% (Max USD 250/- Min USD 5/-)
	Cancellation	MVR 100/-	USD 5/-
	Issuance of Duplicate Pay Orders	0.5% (Max MVR 3,000/- Min MVR 25/-)	0.5% (Max USD 250/- Min USD 5/-)
4.3	Transfer Orders
	(a) Setting Up Charges	MVR 50/-	USD 5/-
	(b) Amendments	MVR 50/-	USD 5/-
	(c) Non-sufficient funds	MVR 50/-	USD 5/-
CARDS (VISA / UNIONPAY / DEBIT)
4.4	VISA Cards - Credit Cards (CLASSIC)
	(a) Joining fee	MVR 250/-	USD 15/-
	(b) Annual fee	MVR 500/-	USD 35/-
	(c) Supplementary Card joining fee	MVR 200/-	USD 15/-
	(d) Supplementary Card annual fee	MVR 450/-	USD 35/-
	(e) Interest rate per month	2.85%	2.85%
	VISA Cards - Credit Cards (GOLD)
	(a) Joining fee	MVR 500/-	USD 30/-
	(b) Annual fee	MVR 800/-	USD 55/-
	(c) Supplementary Card joining fee	MVR 400/-	USD 30/-
	(d) Supplementary Card annual fee	MVR 800/-	USD 55/-
	(e) Interest rate per month	2.65%	2.65%
	VISA Cards - Credit Cards (PLATINUM)
	(a) Joining fee	MVR 900/-	USD 60/-
	(b) Annual fee	MVR 1500/-	USD 100/-
	Supplementary Card joining fee	MVR 900/-	USD 60/-
	(d) Supplementary Card annual fee	MVR 1500/-	USD 100/-
	(e) Interest rate per month	2.50%	2.50%
	UNIONPAY Cards - Credit Cards (CLASSIC)
	(a) Joining fee	N/A	USD 15/-
	(b) Annual fee	N/A	USD 35/-
	(c) Supplementary Card joining fee	N/A	USD 15/-
	(d) Supplementary Card annual fee	N/A	USD 35/-
	(e) Interest rate per month	N/A	2.85%
	UNIONPAY Cards - Credit Cards (PLATINUM)
	(a) Joining fee	N/A	USD 60/-
	(b) Annual fee	N/A	USD 100/-
	(c) Supplementary Card joining fee	N/A	USD 60/-
	(d) Supplementary Card annual fee	N/A	USD 100/-
	(e) Interest rate per month	N/A	2.50%
	Note: UnionPay Cards will be issued in USD Currency and enabled for International transactions only.
	Debit Cards
	(a) Joining fee / (b) Annual fee	MVR 50/- each	USD 5/- each
	Card Service Fees
	(a) Card replacement fee	MVR 125/-	USD 10/-
	(b) PIN Reissue Fee	MVR 50/-	USD 5/-
	(c) Late Payment Fee	MVR 65/-	USD 5/-
	(d) Over Limit Charge	MVR 65/-	USD 5/-
	(e) Cash Advance Fees	3% (Minimum MVR 25/-)	3% (Minimum USD 2/-)
	(f) Copies of statement (per month)	MVR 25/-	USD 2/-
	(g) Cash withdrawals from other Bank Cards	MVR 30/-	USD 2/-
4.5	ACH Transfers (per transaction) Manual Transfers
	Outward	Free	Free
	Inward	Free	Free
	Internet Banking Transfers	Free	Free
4.6	RTGS Transfers (per transaction) Manual Transfers
	Outward Transfer	Free	Free
	Inward Transfers	Free	Free
	Internet Banking Transfers	Free	Free
4.7	Manual Fund Transfers (Internal fund transfers)
	Up to 01 item	Free	Free
	Above 01 items	MVR 10/- per additional item	USD 1/- per additional item
4.8	SMS Alert	Free	Free
4.9	e-Passbook Facility	Free	Free
4.10	Salary Remittance Package/Paymaster facility (Commission per schedule)	Free	Free
4.11	Salary Schedules (Manual Transfers)
	Up to 30 items	MVR 100/-	USD 10/-
	Above 30 items	MVR 500/-	USD 50/-

Item No.	Description	FEE/RATE (MVR)	FEE/RATE (USD)
REMITTANCES
5.1	Outward Remittances
5.1.1	SWIFT Payments
	Commercial or personal transfers
		MVR equivalent of the USD amounts	0.67% Up to USD 100,000/- (Min USD 5/- Max USD 335/-) + 0.25% above USD 100,001/- (Min USD 335/- Max USD 700/-) +
		MVR equivalent of the USD amounts	Foreign Bank Charges – Actual + SWIFT/Telex Charges – USD 15/-
5.1.2	E -Remittance (Expatriate Salaries)
	To Accounts with – Commercial Bank of Ceylon – Sri Lanka – Commercial Bank of Bangladesh	MVR equivalent of the USD fee	Upto USD 750 – USD 3/-
			From USD 751 – 1,000 – USD 4/-
			USD 1,001 – 2,000 – USD 5/-
			USD 2,001 – 5,000 – USD 10/-
			USD 5,001 – 20,000 – USD 20/-
			USD 20,001 – 50,000 – USD 25/-
			USD 50,000 above – USD 50/-

	To Sri Lankan and Bangladesh Other Bank Accounts	MVR equivalent of the USD fee	Upto USD 1,000 – USD 5/-
			USD 1,001 – 2,000 – USD 10/-
			USD 2,001 – 5,000 – USD 12/-
			USD 5,001 – 20,000 – USD 25/-
			USD 20,001 – 50,000 – USD 30/-
			USD 50,000 above – USD 50/-
			* Remittances to the following Banks will apply SWIFT charges and other foreign Bank Charges: People’s Bank Nations Trust Bank (NTB) Standard Chartered Bank HSBC Deutsche Bank
	E-Remittance (Commercial transfers) To CBC – Sri Lanka or other Sri Lankan Accounts	MVR equivalent of the USD amounts	* 0.67% Up to USD 100,000/- (Min USD 5/- Max USD 250/-) + 0.25% above USD 100,001/- (Min USD 250/- Max USD 500/-) + + Cable Charges – USD 15/- * Remittances to the following Banks will apply SWIFT charges and other foreign Bank Charges: People’s Bank Nations Trust Bank (NTB) Standard Chartered Bank Hong Kong & Shanghai Bank Corporation (HSBC) Deutsche Bank
5.2	Inward Remittances (SWIFT)
	Upto USD 100/-		USD 5/-
	From USD 101/- to USD 10,000/-		USD 15/-
	From USD 10,001/- to USD 100,000/-		USD 25/-
	Above USD 100,000/-		USD 35/-
5.3	Inquiries (Inward / Outward Remittances – SWIFT)		USD 15/-

Item No.	Description	FEE/RATE (MVR)	FEE/RATE (USD)
ADVANCES
6.1	Interest Rates
6.1.1	Base Rates		01 month or 03 months SOFR
6.1.2	Loans
	Corporates	9% – 12% p.a	3 month term SOFR + Risk based margin (5% – 10%p.a)
	SME	11% – 13% p.a
	Retail	10% – 14 % p.a
	Loans under SME Credit Guarantee Scheme by MMA	9% p.a.
	Rehendhi Loan	9.5% p.a.
	Personal Loan	13.50 - 15.25% p.a
	Housing Loan	9-12% p.a.
	Home Construction Loans	9-12% p.a.
6.1.3	Overdrafts
	Corporates	10% – 13% p.a	1 month term SOFR + Risk based margin (6% -10% p.a)
	SME	12% – 14% p.a
	Retail	11% – 15% p.a.
6.1.4	Facilities Against Deposits (90% of the Savings or Fixed Deposit)	7.5% p.a.	7.5% p.a.
8.1.5	Temporary Overdrafts (Sanctioned Limits)	13% – 18% p.a.	12% – 16% p.a.
6.1.6	Casual Overdrafts (Unauthorized drawings)	20% p.a	18% p.a
6.2	Facility arrangements fees and Other Charges
6.2.1	New Facility	1.5% of the facility amount \| Min MVR 2,500/-	1.5% of the facility amount \| Min USD 500/-
	Loans under SME Credit Guarantee Scheme by MMA	MVR 2,500/-	-
	Rehendhi Loan	MVR 750/-	-
	Personal Loans	0.75% (Min MVR 1,000/-)	-
	Housing Loans	0.5% of the loan amount	-
	Home Construction Loans	0.5% of the loan amount (Max MVR 25,000)	-
6.2.2	Enhancements (On enhanced amount)	1.5% of the facility amount Min MVR 1,000/-	1.5% of the facility amount Min USD 100/-
6.2.3	Extension (Renewals/Extension/Reschedulement)	1.5% of the facility amount Min MVR 1,000/-	1.5% of the facility amount Min USD 100/-
6.2.4	Amendments(except increase in term of facilities)	0.5% Min MVR 2,500/-	0.5% Min USD 500/-
6.2.5	Undrawn amounts(for amounts greater than MVR 1,000,000/- or USD 100,000/-)	0.5% per quarter on the undrawn amount Min MVR 10,000/-	0.5% per quarter on the undrawn amount Min USD 1,000/-
6.2.6	Early repayment fee on the repaid amount For Home Loans	Repaid fully or partially within 1/4 of the agreed period – 3%
		Repaid fully or partially within 1/2 of the agreed period – 2%
		Repaid fully or partially within 3/4 of the agreed period – 1%
	Other Term Loans	1% to 5% on the amount repaid. This will vary depending on the point of the tenure of the loan where the repayment has been made
6.2.7	Overdue Charges
	Term Loans	5% over the lending rate	5% over the lending rate
	Revolving Loans (RSTL/IDL/STL)	2% over the lending rate	2% over the lending rate

Item No.	Description	FEE/RATE (MVR)	FEE/RATE (USD)
7.1	LETTERS OF CREDIT
7.1.1	Issuing Commission (Including Tolerance)
7.1.1.1	Sight L/C
	For each quarter		0.35%
	For each additional month exceeding any number of quarters		0.25% PM
	Minimum		USD 50/-
	SWIFT Charges		USD 50/-
	Note – PQ - Per Quarter (90 Days) \| PM - Per Month (30 Days)
7.1.1.2	Usance L/C
	For each quarter (including usance period)		0.5% PQ
	For each additional month exceeding any number of quarters		0.25% PM
	Minimum		USD 50/-
	SWIFT Charges		USD 50/-
7.1.2	Extensions (including Tolerance)
	Extensions for the date of issuance of the extension upto the new expiry date per month or part
	For Sight LCs		0.35% PM
	For Usance LCs (including Usance period)		0.5% PM
	Minimum		USD 25/-
	SWIFT Charges		USD 15/-
	Foreign Bank Charges		Actual
7.1.3	Enhancement (on enhanced amount - inclusive of Tolerance)
	On the enhanced amount from the date of issuance of the enhancement upto the expiry date per month or part
	For Sight LCs		0.35% PM
	For Usance LCs (including Usance period)		0.5% PM
	Minimum		USD 25/-
	SWIFT Charges		USD 15/-
	Foreign Bank Charges		Actual
7.1.4	Other Amendments
	Handling Charges		USD 35/-
	SWIFT Charges		USD 15/-
	Foreign Bank Charges		Actual
7.1.5	Local LC Advising Charges – From Beneficiary		USD 20/-
7.1.6	LC Confirmation Charges (On LC Value plus Tolerance)		2%
7.1.7	LC Cancellation
	Handling Fee		USD 25/-
	SWIFT Charges		USD 15/-
7.2	SHIPPING GUARANTEES/ADVANCE DOCUMENTS
7.2.1	Shipping Guarantee Commission
	On invoice value		0.375%
	Minimum		USD 25/-
7.2.2	Shipping Guarantees Outstanding beyond one month of issuance		USD 10 PM
7.2.3	Advance Documents		USD 30/-
7.3	DOCUMENTARY COLLECTION
7.3.1	Documents Against Payment (D/P)
	Commission		0.5% of value
	Minimum		USD 25/-
	SWIFT Charges		USD 15/-
	Postages		Actual
7.3.2	Documents Against Acceptance (D/A)
	Commission		0.5% of Value
	Minimum		USD 25/-
	SWIFT Charges		USD 15/-
	Postages		Actual
7.3.3	Overdue DA Bills Commission		USD 25/- PM
7.3.4	Amendments
7.3.4	Commission		USD 20/-
7.3.5	Collection Bills – Other Charges
	Return of documents not paid		USD 25/-
	Counter Charges		Actual
	SWIFT Charges		USD 15/-
7.4	LC BILLS PAYMENT
7.4.1	Sight
	Commission		1%
	Minimum		USD 25/-
	SWIFT Charges		USD 15/-
	Foreign Bank Charges		Actual
	Discrepancy Charges		USD 100/-
7.4.2	Usance
	Acceptance Commission		1%
	Minimum		USD 25/-
	SWIFT Charges		USD 15/-
	Foreign Bank Charges		Actual
	Discrepancy Charges		USD 100/-
7.5	GUARANTEES
7.5.1	Issuing Commission (All types)
	Against 100% cash margin for each Guarantee	1.5% per annum	1.5% per annum
	Against a lien on interest bearing deposit	2.0% per annum	2.0% per annum
	Against Counter Guarantees	2.0% per annum	2.0% per annum
	Against other securities	2.5% per annum	2.5% per annum
	Minimum Commission	MVR 500/-	USD 50/-
	Note - Calculation of commission should be for the entire quarter (even if the expiry is within the quarter) and collected upfront. Bank Gurantee Administration Fee: For all New Gurantee requests / amendments / extensions received less than 5 business days prior to the required date. - MVR 700/- - USD 50/- (The above is addition to the issuing commission mentioned above)
7.5.2	Amendments
7.5.2.1	Extension within same quarter	MVR 250/-	USD 25/-
7.5.2.2	Extension exceeding previously charged quarter (for each 90 days on available Balance) Extension after expiry and Enhancements
	Against 100% cash margin for each Guarantee	1.0% per annum	1.0% per annum
	Against a lien on interest bearing deposit	1.5% per annum	1.5% per annum
	Against Counter Guarantees	2.0% per annum	2.0% per annum
	Against other securities	2.5% per annum	2.5% per annum
	Minimum Commission	MVR 500/-	USD 50/-
7.5.2.3	Other Amendments	MVR 500/-	USD 50/-
7.5.3	Processing Fee
	Bank and Approved Formats	NIL	NIL
	Other Formats	MVR 100/-	USD 10/-
7.5.4	Claims handling Charge	MVR 100/-	USD 10/-
7.5.5	Cancellation of Guarantees
	Non-Submission of Original Guarantee Bond after expiry.	MVR 100/-	USD 10/-
	Submission of Original Guarantee Bond	No Charge	No Charge
7.5.6	Advising Guarantees issued by foreign banks without any responsibility of bank		USD 15/-

Item No.	Description	FEE/RATE (USD)
8.1	Letter of Credit Advising
8.1.1	L/C Advising
	Customer (benefiaciary)	USD 35/-
	Non Customer (benefiaciary)	USD 50/-
	To applicant	USD 75/-
8.1.2	L/C Amendments
	Enhancements	USD 30/-
	Extension	USD 25/-
	Other Amendments	USD 25/-
8.1.3	LC Confirmation	0.75% PQ
8.1.4	LC Cancellation	USD 30/-
8.2	Export Bills - Documentary Collections (DP/DA)
8.2.1	On Collection Basis
8.2.1	Collection Commission	0.25% (Minimum USD 25/-)
8.2.2	Purchase / Discount of Bills
	Discounting interest rate	SOFR 1 month + 11% \| Minimum USD 50/- 0.5%
	Commission	Minimum USD 25/-
8.3	Export Bills - Under Lettr of Credit
8.3.1	Negotiation / Purchase
	Discounting interest	SOFR 1 month + 11% \| Minimum USD 50/-
	Commission	0.75% \| Minimum USD 25/-
8.3.2	On Presentation Basis
8.3.2	Commission	0.75% \| Minimum USD 25/-
8.4	SWIFT Charges
	Per Message	USD 15/-

Current Accounts

Savings Accounts

Fixed Deposits

General Operations & Cards

Remittances

Advances

Import Transactions

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