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| Savings Products | Rate of Interest p.a% | |
|---|---|---|
| MVR | USD | |
| Savings Account | 1.50% | 1.25% |
| Children Savings Account | 2.25% | 2.00% |
| Youth Savings Account | 1.50% | 1.25% |
| Senior Citizen’s Account | 2.25% | 2.00% |
| Women’s Savings Account | 2.00% | 1.75% |
| Power Savings Account | Balance above MVR 250,000 – 2.50% | Balance above USD 25,000 – 2.25% |
| Balance between MVR 50,000 to 250,000 – 2.25% | Balance between USD 5,000 – 25,000 – 2.00% | |
| Balance below MVR 50,000 – 2.00% | Balance below USD 5,000 – 1.75% | |
| Smart Savings Account | 3.00% | |
| 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. | ||
| Fixed Deposits | Rate of Interest p.a% | |||
|---|---|---|---|---|
| MVR | MVR | USD | USD | |
| Counter | eFD | Counter | eFD | |
| 1 Months | 1.60% | 1.75% | 1.35% | – |
| 3 Months | 2.25% | 2.50% | 2.50% | 2.60% |
| 6 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 for deposits up to MVR 500,000/- (or equivalent amount of USDs). For deposits above MVR 500,000/- (or equivalent amount of USDs), please contact the Treasury Department. | ||||
| Currency Code | Buying rate | Selling Rate | USD Cross rate |
|---|---|---|---|
| Rates as at 30.04.2025 | |||
| USD US Dollars * | 15.42 | 15.42 | |
| EUR EURO * | 17.2288 | 18.5857 | 1.1373 |
| GBP Sterling Pound * | 20.3374 | 20.9542 | 1.3389 |
| JPY Japanese Yen | 0.1082 | 0.1083 | 142.40 |
| SGD Singapore Dollars * | 11.5316 | 12.0262 | 1.3072 |
| BDT Bangladeshi Taka (Indicative) | 0.1264 | 0.1264 | 122.00 |
| LKR Sri Lankan Rupees (Indicative) | 0.0515 | 0.0515 | 299.50 |
| AED United Arab Emirates Dirhams | 4.1873 | 4.2101 | 3.6726 |
| AUD Australian Dollars | 9.7131 | 10.0215 | 0.6399 |
| CAD Canadian Dollar | 11.0601 | 11.2211 | 1.3842 |
| CHF Swiss Franc | 18.5047 | 18.9598 | 0.8233 |
| CNY Yuan Renminbi | 2.1178 | 2.1236 | 7.2713 |
| DKK Danish Krone | 2.3461 | 2.3533 | 6.5626 |
| HKD Hong Kong Dollar | 1.9851 | 1.9902 | 7.7579 |
| iDR Indonesian Rupiah | 0.00092 | 0.00092 | 16,725.00 |
| INR Indian Rupee | 0.1809 | 0.1809 | 85.2390 |
| MYR Malaysian Ringgit | 3.5670 | 3.5835 | 4.3130 |
| NOK Norwegian Krone | 1.4842 | 1.4871 | 10.3794 |
| NZD New Zealand Dollars | 8.9883 | 9.2967 | 0.5929 |
| SAR Saudi Arabia Riyals | 4.1002 | 4.1221 | 3.7508 |
| SEK Swedish Krone | 1.5979 | 1.6012 | 9.6404 |
| THB Thailand Baht | 0.4613 | 0.4615 | 33.4200 |
| * Currencies accepted by the Bank for cash transactions. | |||
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| CURRENT ACCOUNTS | |||
| 1.1 | Minimum amount to Open an account Non Personal A/C Personal A/C | MVR 5,000/- MVR 5,000/- | USD 500/- USD 500/- |
| 1.2 | Monthly Service Charge Non-Personal A/C – Monthly Avg. Bal < MVR 5,000/- or USD 500/- Personal A/C – Monthly Avg. Bal < MVR 2,500/- or USD 250/- Dormant Accounts | MVR 100/- per month MVR 100/- per month MVR 100/- per month | USD 10/- per month USD 10/- per month USD 10/- per month |
| 1.3 | Outward Cheque Returns Non-sufficient funds Other Technical Reasons | MVR 750/- MVR 100/- | USD 50/- USD 10/- |
| 1.4 | Cheque Marked for Payment (Payment Guarantee) (a) Inward (b) Outward | MVR 50/- MVR 50/- | USD 5/- USD 5/- |
| 1.5 | Stop payments: Per request Due to lack of Funds Others | MVR 500/- MVR 100/- | USD 50/- USD 10/- |
| 1.6 | Current A/C Statements – Monthly Services Charge e-Statements | No Charge | |
| 1.7 | Printed copies of Statements | MVR 50/- | USD 5/- |
| 1.8 | Local Bills Purchased (including Pay Orders issued by other banks at the Banks discretion) | 0.75% of Transaction | 0.75% of Transaction |
| 1.9 | Cost of Cheque Books (per cheque Book) | 50 Leaves – MVR 500/- 25 Leaves – MVR 250/- | 50 Leaves – USD 35/- 25 Leaves – USD 17.50/- |
| 1.10 | Closure of Current Accounts For bad conduct On Customer Request Additional fee for Unreturned Cheque Leaves (per leaf) | MVR 200/- MVR 200/- MVR 25/- | USD 20/- USD 20/- 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 |
| 1.12 | Photocopy of a paid cheque | MVR 50/- | USD 5/- |
| 1.13 | Regulatory enforced payments | MVR 300/- | USD 25/- |
| 1.14 | 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/- |
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| SAVINGS ACCOUNTS | |||
| 2.1 | Interest Rates Savings Accounts Children Savings Youth Savings Power Savings Senior Citizens Account Women’s Savings Account Smart Savings Account | 1.50% p.a. 2.25% p.a 1.50% p.a Below MVR 50,000 – 2.00% p.a MVR 50,000 – MVR 250,000 -2.25% p.a Above MVR 250,000 – 2.50% p.a 2.25% p.a 2.00% p.a 3.00% p.a | 1.25% p.a. 2.00% p.a 1.25% p.a Below USD 5,000 – 1.75% p.a USD 5,000 – USD 25,000 – 2.00% p.a. Above USD 25,000 – 2.25% p.a 2.00% p.a 1.75% p.a N/A |
| 2.2 | Minimum amount to Open an account Personal – MVR 500/- or USD 50/- Children Savings – MVR 100 or USD 10 Youth Savings – MVR 100 or USD 10 Power Savings – MVR 5000 or USD 500 Senior citizen Account – MVR 500 or USD 50 | ||
| 2.3 | Monthly Service Charge Personal A/C – Monthly Avg. Bal < MVR 250/- or USD 30/- Dormant Accounts | MVR 20/- MVR 20/- | USD 2/- USD 2/- |
| 2.4 | Closure of Savings Accounts | MVR 50/- | USD 5/- |
| 2.5 | Printed copies of Statements | 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% |
| 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. | |||
Savings
| Savings Products | Rate of Interest p.a% | |
|---|---|---|
| MVR | USD | |
| Savings Account | 1.50% | 1.25% |
| Children Savings Account | 2.25% | 2.00% |
| Youth Savings Account | 1.50% | 1.25% |
| Senior Citizen’s Account | 2.25% | 2.00% |
| Women’s Savings Account | 2.00% | 1.75% |
| Power Savings Account | Balance above MVR 250,000 – 2.50% | Balance above USD 25,000 – 2.25% |
| Balance between MVR 50,000 to 250,000 – 2.25% | Balance between USD 5,000 – 25,000 – 2.00% | |
| Balance below MVR 50,000 – 2.00% | Balance below USD 5,000 – 1.75% | |
| Smart Savings Account | 3.00% | |
| 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. | ||
Deposits
| Fixed Deposits | Rate of Interest p.a% | |||
|---|---|---|---|---|
| MVR | MVR | USD | USD | |
| Counter | eFD | Counter | eFD | |
| 1 Months | 1.60% | 1.75% | 1.35% | – |
| 3 Months | 2.25% | 2.50% | 2.50% | 2.60% |
| 6 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 for deposits up to MVR 500,000/- (or equivalent amount of USDs). For deposits above MVR 500,000/- (or equivalent amount of USDs), please contact the Treasury Department. | ||||
H.Filigasdhoshuge,
Ameeru Ahmed Magu,
Male 20066
+960 3332668
