CBM Digital
CBM Digital

Rates and Tariffs

  • Interest Rates
  • Exchange Rates
  • Tariffs & Charges

Savings

Savings ProductsRate of Interest p.a%
MVRUSD
Savings Account2.00%1.75%
Children Savings Account2.25%2.00%
Youth Savings Account1.50%1.25%
Senior Citizen's Account2.25%2.00%
Women's Savings Account2.00%1.75%
Power Savings AccountBalance 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%

Deposits

Fixed DepositsRate of Interest p.a%
MVRUSD
1 Months2.00%1.75%
3 Months2.25%2.00%
6 Months2.50%2.25%
12 Months - at maturity3.25%2.75%
12 Months - monthly interest3.20%
24 Months - at maturity3.30%
60 Months - at maturity3.50%

Currency as of TodayBuying rateSelling RateUSD Cross rate
US Dollars [USD]15.4115.42
EURO [EUR]15.709017.41531.0694
Sterling Pound [GBP]18.470419.87021.2386
Japanese Yen [JPY]0.10980.1107139.83
Singapore Dollars [SGD]10.975811.73521.3540
Bangladeshi Taka [BDT] Indicative108.00
Sri Lankan Rupees [LKR] Indicative292.00

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
CURRENT ACCOUNTS
1.1Minimum amount to Open an account
Non Personal A/C – MVR 5,000/- or USD 500/-
Personal A/C – MVR 2,500/- or USD 250/-
1.2Monthly 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 50/- per month
MVR 50/- per month		USD 10/- per month
USD 5/- per month
USD 5/- per month
1.3Outward Cheque Returns
Non-sufficient funds
Other Technical Reasons		MVR 500/-
MVR 100/-		USD 50/-
USD 10/-
1.4Cheque Marked for Payment (Payment Guarantee)
(a) Inward
(b) Outward		MVR 50/-
MVR 50/-		USD 5/-
USD 5/-
1.5Stop payments: Per request
Due to lack of Funds
Others		MVR 500/-
MVR 100/-		USD 50/-
USD 10/-
1.6Current A/C Statements – Monthly Services Charge
e-Statements		No Charge
1.7Printed copies of Statements
To be emailed (per statement)
To be emailed overseas (per statement)
Extra Copies (per statement)		MVR 100/-
MVR 100/-
MVR 50/-		USD 10/-
USD 10/-
USD 5/-
1.8Local Bills Purchased(including Pay Orders issued by other banks at the Banks discretion)0.75% of Transaction0.75% of Transaction
1.9Cost of Cheque Books (per cheque Book) 50 Leaves – MVR 200/-
25 Leaves – MVR 100/-		50 Leaves – USD 12/-
25 Leaves – USD 6/-
1.10Closure 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
1.11Preparation of Cash Orders0.25% of the cash Order Plus Transport Cost0.25% of the cash Order Plus Transport Cost
1.12Photocopy of a paid chequeMVR 50/-USD 5/-
1.13Regulatory enforced paymentsMVR 250/-USD 25/-
1.14Deposit of USD 5/- currency notes or belowN/A3%

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
SAVINGS ACCOUNTS
2.1Interest Rates

Savings Accounts

Children Savings

Youth Savings

Power Savings


Senior Citizens Account

Women’s Savings Account

Smart Savings Account		2.00% 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		1.75% 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
2.2Minimum amount to Open an account
Personal – MVR 500/- or USD 50/-
Non-personal – MVR 5,000/- or USD 500/-
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
2.3Monthly Service Charge
Personal A/C – Monthly Avg. Bal < MVR 500/- or USD 50/-
Dormant Accounts		MVR 10/-
MVR 10/-		USD 2/-
USD 2/-
2.4Closure of Savings AccountsMVR 100/-USD 10/-
2.5Printed copies of Statements
To be faxed (per statement)
To be faxed overseas (per statement)
Extra Copies (per statement)		MVR 100/-
MVR 100/-
MVR 50/-		USD 10/-
USD 10/-
USD 5/-
2.6Regulatory enforced paymentsMVR 250/-USD 25/-
2.7Deposit of USD 5/- currency notes or belowN/A3%

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
FIXED DEPOSITS
3.1Interest Rates
01 months
03 months
06 months
12 months – at maturity
12 months – monthly interest
24 months – at maturity
60 months – at maturity

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.
2.00% p.a.
2.25% p.a.
2.50% p.a.
3.25% p.a.
3.20% p.a.
3.30% p.a.
3.50% p.a.
1.75% p.a.
2.00% p.a.
2.25% p.a.
2.75% p.a.
3.2Minimum deposit
MVR 10,000/-USD 1,000/-
3.3Early Redemption / WithdrawalInterest will be paid 1% below the prevailing interest rates for savings accounts for period of investment at the time of redemptionInterest will be paid 1% below the prevailing interest rates for savings accounts for period of investment at the time of redemption

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
GENERAL OPERATIONS
4.1Balance confirmations to Embassies, Auditors & Other Institutions (per confirmation)
Search fee for Collection of Data for Tax purposes, interest recovered/ paid etc.
Non Personal Accounts
Personal Accounts

MVR 100/-
MVR 50/-

USD 10/-
USD 5/-
4.2Pay Orders – Issuance (Customer Only)



Cancellation
Issuance of Duplicate Pay Orders

0.5%
Max MVR 3,000/-
Min MVR 25/-

MVR 100/-
0.5%
Max MVR 3,000/-
Min MVR 25/-

0.5%
Max USD 250/-
Max USD 5/-

USD 5/-
0.5%
Max USD 250/-
Min USD 5/-
4.3Transfer Orders
(a) Setting Up Charges
(b) Amendments
(c) Non-sufficient funds		MVR 50/-
MVR 50/-
MVR 50/-		USD 5/-
USD 5/-
USD 5/-
4.4ACH Transfers (per transaction)
Manual Transfers
Outward
Inward

Internet Banking Transfers		Free
Free

Free		Free
Free

Free
4.5RTGS Transfers (per transaction)
Manual Transfers
Outward Transfers
Inward Transfers

Internet Banking Transfers		Free
Free

Free		Free
Free

Free
4.6Manual Fund Transfers
Internal fund transfers
– upto 01 item
– Above 01 items

Free
MVR 10/- per additional item
Free
USD 1/- per additional item
4.7Internet Banking
Personal Customers
– Joining Fee
– Annual Fee

Personal Customers
– Joining Fee – per user
– Annual Fee – per user		MVR 50/-
MVR 50/-


MVR 50/-
MVR 50/-		USD 5/-
USD 5/-


USD 5/-
USD 5/-
4.8SMS AlertFree
4.9e-Passbook FacilityFree
4.10Salary Remittance Package/Paymaster facility
Commission per schedule		FreeFree
4.11Salary Schedules (Manual Transfers)
Upto 10 items
Above 30 items		MVR 100/-
MVR 500/-		USD 10/-
USD 50/-

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
VISA CARDS
5.1VISA Cards
Credit Cards (CLASSIC)
(a) Joining fee
(b) Annual fee
(c) Supplementary Card fee
(d) Supplementary Card annual fee
(e) Interest rate per month

Credit Cards (GOLD)
(a) Joining fee
(b) Annual fee
(c) Supplementary Card fee
(d) Supplementary Card annual fee
(e) Interest rate per month

Credit Cards (PLATINUM)
(a) Joining fee
(b) Annual fee
(c) Supplementary Card fee
(d) Supplementary Card annual fee
(e) Interest rate per month

Debit Cards
(a) Joining fee
(b) Annual fee

Debit Cards
(a) Card replacement fee
(b) PIN Reissue Fee
(c) Late Payment Fee
(d) Over Limit Charge
(e) Cash Advance Fee
(f) Copies of statement (per month)


MVR 200/-
MVR 450/-
MVR 200/-
MVR 450/-
2.85%


MVR 500/-
MVR 800/-
MVR 400/-
MVR 800/-
2.65%


MVR 900/-
MVR 1500/-
MVR 900/-
MVR 1500/-
2.50%


MVR 50/-
MVR 50/-


MVR 125/-
MVR 50/-
MVR 65/-
MVR 65/-
3% (Minimum MVR 25/-)
MVR 25/-

USD 15/-
USD 35/-
USD 15/-
USD 35/-
2.85%


USD 30/-
USD 55/-
USD 30/-
USD 55/-
2.65%


USD 60/-
USD 100/-
USD 60/-
USD 100/-
2.50%


USD 5/-
USD 5/-


USD 10/-
USD 5/-
USD 5/-
USD 5/-
3% (Minimum USD 2/-)
USD 2/-

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
REMITTANCES
6.1Outward Remittances
6.1.1SWIFT Payments
Commercial or personal transfers





Foreign Bank Charges
SWIFT/Telex Charges

Remittance amount paid in MVR		MVR equivalent of the USD amounts






MVR equivalent of the USD amounts


As decided by the Bank from time to time		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/-)

Actual
USD 15/-


6.1.2E -Remittance (Expatriate Salaries)
To CBC – Sri Lanka Accounts
To Other Sri Lankan Bank Accounts

To CBC – Bangladesh Accounts

To Other Bangladesh Bank Accounts

Remittance amount paid in MVR – additional Handling Charges

E-Remittance (Other Personal transfers) – upto USD 1,000/- only
To CBC – Sri Lanka

To other Sri Lankan Accounts

Remittance amount paid in MVR – additional Handling Charges

E-Remittance (Commercial transfers)
To CBC – Sri Lanka or other Sri Lankan Accounts

Cable Charges

Remittance amount paid in MVR		MVR equivalent of the USD amounts

MVR equivalent of the USD amounts

MVR equivalent of the USD amounts

MVR equivalent of the USD amounts

As decided by the Bank from time to time

MVR equivalent of the USD amounts

MVR equivalent of the USD amounts

2% on the remittance amount

MVR equivalent of the USD amounts

To be negotiated with the Bank at the time of remittance		Upto USD 2,000 – USD 3/-
Above USD 2,000 – USD 10/-

Same as above

USD 4/-

Same as above



USD 3/-

Same as above


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/-)

USD 15/-

6.2Inward Remittances (SWIFT)
Upto USD 100/-
From USD 101/- to USD 10,000/-
From USD 10,001/- to USD 100,000/-
Above USD 100,000/-
USD 5/-
USD 15/-
USD 25/-
USD 35/-
6.3Inquiries (Inward / Outward Remittances – SWIFT)
MVR 200/-
MVR 450/-
MVR 200/-
MVR 450/-
2.85%


MVR 500/-
MVR 800/-
MVR 400/-
MVR 800/-
2.65%


MVR 900/-
MVR 1500/-
MVR 900/-
MVR 1500/-
2.50%


MVR 50/-
MVR 50/-


MVR 125/-
MVR 50/-
MVR 65/-
MVR 65/-
3% (Minimum MVR 25/-)
MVR 25/-		USD 15/-

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
ADVANCES
7.1Interest Rates
7.1.1Base Rate
Corporates
SME
Retail
Loans under SME Credit Guarantee Scheme by MMA
Women Entrepreneur Loans
Personal Loans
Housing Loans
Home Construction Loans
01 month or 06 month LIBOR
7.1.2Loans
Corporates
SME
Retail
Loans under SME Credit Guarantee Scheme by MMA
Women Entrepreneur Loans
Personal Loans
Housing Loans
Home Construction Loans
9% – 12% p.a
11% – 13% p.a
10% – 14 % p.a
9% p.a.
12% p.a.
16% p.a
10.5% p.a.
10.5% – 12.5% p.a.
6 month LIBOR+6% – 10%p.a
7.1.3Overdrafts
Corporates
SME
Retail
10% – 13% p.a
12% – 14% p.a
11% – 15% p.a.		1 month LIBOR+7% -10% p.a
7.1.4Facilities Against Deposits (90% of the Savings or Fixed Deposit)7.5% p.a.7.5% p.a.
7.1.5Temporary Overdrafts (Sanctioned Limits)13% – 18% p.a.12% – 16% p.a.
7.1.6Casual Overdrafts (Unauthorized drawings)20% p.a18% p.a
7.2Facility arrangements fees and Other Charges
7.2.1New Facility








Loans under SME Credit Guarantee Scheme by MMA
Women Entrepreneur Loans
Personal Loans
Housing Loans
Home Construction Loans		Upto MVR 250,000/-
MVR 1000/-
Upto MVR 500,000/-
MVR 2500/-
upto MVR 1.0Mn
MVR 5000/-
Above MVR 1.0Mn
0.1% (Max MVR 25,000)

MVR 2,500/-
MVR 500/-
MVR 1,000/-
0.5% of the loan amount
0.5% of the loan amount
(Max MVR 25,000)
Upto USD 25,000/-
USD 100/-
Upto USD 50,000/-
USD 250/-
upto USD 1.0Mn
USD 500/-
Above USD 1.0Mn
0.1% (Max USD 2,500)
7.2.2Enhancements (On enhanced amount)Upto MVR 250,000/-
MVR 1000/-
Upto MVR 500,000/-
MVR 2500/-
upto MVR 1.0Mn
MVR 5000/-
Above MVR 1.0Mn
0.1% (Max MVR 25,000)		Upto USD 25,000/-
USD 100/-
Upto USD 50,000/-
USD 250/-
upto USD 1.0Mn
USD 500/-
Above USD 1.0Mn
0.1% (Max USD 2,500)
7.2.3Extension (Renewals/Extension/Reschedulement)Upto MVR 250,000/-
MVR 750/-
Upto MVR 500,000/- MVR 2000/-
upto MVR 1.0Mn
MVR 4000/-
Above MVR 1.0Mn
0.1% (Max MVR 25,000)
Upto USD 25,000/-
USD 75/-
Upto USD 50,000/-
USD 200/-
upto USD 1.0Mn
USD 450/-
Above USD 1.0Mn
0.1% (Max USD 2,500)
7.2.4Amendments(except increase in term of facilities)MVR 1,000/-USD 100/-
7.2.5Undrawn amounts(for amounts greater than MVR 1,000,000/- or USD 100,000/-)0.1% per quarter on the undrawn amount
Min MVR 10,000/-
0.1% per quarter on the undrawn amount
Min USD 1,000/-
7.2.6Early repayment fee on the repaid amount
For Home Loans







Other Term 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%

1% to 2% on the amount repaid. This will vary depending on the point of the tenure of the loan where the repayment has been made
1% to 2% on the amount repaid. This will vary depending on the point of the tenure of the loan where the repayment has been made
7.2.7Overdue charges
Term Loans
Revolving Loans (RSTL/IDL/STL)		5% over the lending rate
2% over the lending rate
5% over the lending rate
2% over the lending rate
7.2.8Facility Secured by CashBelow MVR 500,000 – MVR 1,000/-
Above MVR 500,000 – MVR 2,000/-
Below USD 50,000 – USD 100/-
Above USD 50,000 – USD 200/-

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
IMPORT TRANSACTIONS
8.1LETTERS OF CREDIT
8.1.1Issuing Commission (Including Tolerance)
8.1.1.1Sight L/C
For each quarter
For each additional month exceeding any number of quarters
Minimum
SWIFT Charges

Note – PQ – Per Quarter (90 Days), PM – Per Month (30 Days)

0.35%
0.25% PM
USD 25/-
USD 50/-
8.1.1.2Usance L/C
For each quarter (including usance period)
For each additional month exceeding any number of quarters
Minimum
SWIFT Charges

0.5% PQ
0.25% PM
USD 25/-
USD 50/-
8.1.2Extensions
(Including Tolerance)

For Sight LCs
For Usance LCs (Including Usance period)
Minimum
SWIFT Charges
Foreign Bank Charges

Note – Extension from the date of issuance of the extension upto the new expiry date per month or part		7.5% p.a.


0.35% PM
0.5% PM
USD 25/-
USD 15/-
Actual
8.1.3Enhancement
(on enhanced amount – inclusive of Tolerance)

For Sight LCs
For Usance LCs (Including Usance period)
Minimum
SWIFT Charges
Foreign Bank Charges

Note – On the enhanced amount from the date of issuance of the enhancement upto the expiry date per month or part


0.35% PM
0.5% PM
USD 25/-
USD 15/-
Actual
8.1.4Other Amendments
Handling Charges
SWIFT Charges
Foreign Bank Charges

USD 35/-
USD 15/-
Actual
8.1.5Local LC Advising Charges – From BeneficiaryUSD 20/-
8.1.6LC Confirmation Charges
On LC Value plus Tolerance

Loans under SME Credit Guarantee Scheme by MMA
Women Entrepreneur Loans
Personal Loans
Housing Loans
Home Construction Loans
2%
8.1.7LC Cancellation
Handling Fee
SWIFT Charges

USD 25/-
USD 15/-
8.2SHIPPING GUARANTEES/ADVANCE DOCUMENTS
8.2.1Shipping Guarantee Commission
On Invoice value
Minimum

0.375%
USD 25/-
8.2.2Shipping Guarantees Outstanding beyond one month of issuanceUSD 10 PM
8.2.3Advance Documents

Other Term Loans		USD 30/-

1% to 2% on the amount repaid. This will vary depending on the point of the tenure of the loan where the repayment has been made
8.3DOCUMENTARY COLLECTION
8.3.1Documents Against Payment (D/P)
Commission
Minimum
SWIFT Charges
Postages
0.5% of value
USD 25/-
USD 15/-
Actual
8.3.2Documents Against Acceptance (D/A)
Commission
Minimum
SWIFT Charges
Postages

0.5% of Value
USD 25/-
USD 15/-
Actual
8.3.3Overdue DA Bills Commission USD 25/- PM
8.3.4Amendments
Commission		USD 20/-
8.3.5Collection Bills – Other Charges
Return of documents not paid
Courier charges
SWIFT Charges

USD 25/-
Actual
USD 15/-
8.4LC BILLS PAYMENT
8.4.1Sight
Commission
Minimum
SWIFT Charges
Foreign Bank Charges
Discrepancy Charges

1%
USD 25/-
USD 15/-
Actual
USD 60/-
8.4.2Usance
Acceptance Commission
Minimum
SWIFT Charges
Foreign Bank Charges
Discrepancy Charges		1%
USD 25/-
USD 15/-
Actual
USD 60/-
8.5GUARANTEES
8.5.1Issuing Commission (All types)
Against 100% cash margin for each Guarantee
Against a lien on interest bearing deposit
Against Counter Guarantees
Against other securities
Minimum Commission

Note – Calculation of commission should be for the entire quarter (even if the expiry is within the quarter) and collected upfront.

1.5% per annum
2.0% per annum
2.0% per annum
2.5% per annum
MVR 500/-

1.5% per annum
2.0% per annum
2.0% per annum
2.5% per annum
USD 50/-
8.5.2Amendments
8.5.2.1Extension within same quarterMVR 250/-USD 25/-
8.5.2.2Extension exceeding previously charged quarter
(for each 90 days on available Balance)
Extension after expiry and Enhancements

Against 100% cash margin for each Guarantee
Against a lien on interest bearing deposit
Against Counter Guarantees
Against other securities
Minimum Commission




1.0% per annum
1.5% per annum
2.0% per annum
2.5% per annum
MVR 500/-




1.0% per annum
1.5% per annum
2.0% per annum
2.5% per annum
USD 50/-
8.5.2.3Other AmendmentsMVR 500/-USD 50/-
8.5.3Processing Fee
Bank and Approved Formats
Other Formats

NIL
MVR 100/-

NIL
USD 10/-
8.5.4Claims handling ChargeMVR 100/-USD 10/-
8.5.5Cancellation of Guarantees
Non Submission of Original Guarantee Bond after expiry.
Submission of Original Guarantee Bond

MVR 100/-
No Charge

USD 10/-
No charge
8.5.6Advising Guarantees issued by foreign banks without any responsibility of bankUSD 15/-

Item No.DescriptionFEE/RATE (MVR)FEE/RATE (USD)
EXPORT TRANSACTIONS
9.1Letter of Credit Advising
9.1.1L/C Advising
Customer (beneficiary)
Non Customer (beneficiary)
To applicant

USD 35/-
USD 50/-
USD 75/-
9.1.2L/C Amendments
Enhancements
Extension
Other Amendments

USD 30/-
USD 25/-
USD 25/-
9.1.3LC Confirmation 0.75% PQ
9.1.4LC CancellationUSD 30/-

0.35% PM
0.5% PM
USD 25/-
USD 15/-
Actual
9.2 Export Bills – Documentary Collections (DP/ DA)
9.2.1On Collection Basis
Collection Commission		0.25%
Minimum USD 25/-

9.2.2Purchase/Discount of Bills
Discounting Interest rate

Commission
LIBOR +11%
Minimum USD 50/-
0.5%
Minimum USD 25/-

9.3Export Bills – Under Letter of Credit2%
9.3.1Negotiation/Purchase
Discounting interest

Commission		LIBOR +11%
Minimum USD 50/-

0.75%
Minimum USD 25/-

9.3.2On Presentation Basis
Commission		0.75%
Minimum USD 25/-
9.4SSWIFT Charges
Per Message
USD 15/-

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H.Filigasdhoshuge,
Ameeru Ahmed Magu,
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