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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 12.05.2025 | |||
| USD US Dollars * | 15.42 | 15.42 | |
| EUR EURO * | 17.0098 | 18.3668 | 1.1231 |
| GBP Sterling Pound * | 20.1724 | 20.7892 | 1.3282 |
| JPY Japanese Yen | 0.1057 | 0.1058 | 145.84 |
| SGD Singapore Dollars * | 11.6088 | 12.1103 | 1.2983 |
| BDT Bangladeshi Taka (Indicative) | 0.1264 | 0.1264 | 122.00 |
| LKR Sri Lankan Rupees (Indicative) | 0.0515 | 0.0515 | 299.25 |
| AED United Arab Emirates Dirhams | 4.1870 | 4.2099 | 3.6728 |
| AUD Australian Dollars | 9.7532 | 10.0616 | 0.6425 |
| CAD Canadian Dollar | 10.9931 | 11.1521 | 1.3927 |
| CHF Swiss Franc | 18.2831 | 18.7272 | 0.8334 |
| CNY Yuan Renminbi | 2.1304 | 2.1363 | 7.2280 |
| DKK Danish Krone | 2.3182 | 2.3252 | 6.6417 |
| HKD Hong Kong Dollar | 1.9784 | 1.9835 | 7.7840 |
| IDR Indonesian Rupiah | 0.00093 | 0.00093 | 16,510.00 |
| INR Indian Rupee | 0.1806 | 0.1806 | 85.3810 |
| MYR Malaysian Ringgit | 3.5828 | 3.5995 | 4.2939 |
| NOK Norwegian Krone | 1.4869 | 1.4898 | 10.3605 |
| NZD New Zealand Dollars | 8.9852 | 9.2936 | 0.5927 |
| SAR Saudi Arabia Riyals | 4.1003 | 4.1222 | 3.7507 |
| SEK Swedish Krone | 1.5858 | 1.5890 | 9.7140 |
| THB Thailand Baht | 0.4666 | 0.4668 | 33.0400 |
| * 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. | |||
| Currency Code | Buying rate | Selling Rate | USD Cross rate |
|---|---|---|---|
| Rates as at 12.05.2025 | |||
| USD US Dollars * | 15.42 | 15.42 | |
| EUR EURO * | 17.0098 | 18.3668 | 1.1231 |
| GBP Sterling Pound * | 20.1724 | 20.7892 | 1.3282 |
| JPY Japanese Yen | 0.1057 | 0.1058 | 145.84 |
| SGD Singapore Dollars * | 11.6088 | 12.1103 | 1.2983 |
| BDT Bangladeshi Taka (Indicative) | 0.1264 | 0.1264 | 122.00 |
| LKR Sri Lankan Rupees (Indicative) | 0.0515 | 0.0515 | 299.25 |
| AED United Arab Emirates Dirhams | 4.1870 | 4.2099 | 3.6728 |
| AUD Australian Dollars | 9.7532 | 10.0616 | 0.6425 |
| CAD Canadian Dollar | 10.9931 | 11.1521 | 1.3927 |
| CHF Swiss Franc | 18.2831 | 18.7272 | 0.8334 |
| CNY Yuan Renminbi | 2.1304 | 2.1363 | 7.2280 |
| DKK Danish Krone | 2.3182 | 2.3252 | 6.6417 |
| HKD Hong Kong Dollar | 1.9784 | 1.9835 | 7.7840 |
| IDR Indonesian Rupiah | 0.00093 | 0.00093 | 16,510.00 |
| INR Indian Rupee | 0.1806 | 0.1806 | 85.3810 |
| MYR Malaysian Ringgit | 3.5828 | 3.5995 | 4.2939 |
| NOK Norwegian Krone | 1.4869 | 1.4898 | 10.3605 |
| NZD New Zealand Dollars | 8.9852 | 9.2936 | 0.5927 |
| SAR Saudi Arabia Riyals | 4.1003 | 4.1222 | 3.7507 |
| SEK Swedish Krone | 1.5858 | 1.5890 | 9.7140 |
| THB Thailand Baht | 0.4666 | 0.4668 | 33.0400 |
| * 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. | |||
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) | ||
|---|---|---|---|---|---|
| FIXED DEPOSITS | Counter | eFD | Counter | eFD | |
| 3.1 | Interest Rates 01 Month 03 Months 06 Months 12 Months – monthly interest 12 Months – at maturity 24 Months – Int. Annually 24 Months – at maturity 36 Months – Int. Annually 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. | 1.60% p.a. 2.25% p.a. 2.50% p.a. 2.75% p.a. 3.00% p.a. – 4.00% p.a. – 4.25% p.a. | 1.75% p.a. 2.50% p.a. 2.60% p.a. 3.00% p.a. 3.10% p.a. – 4.10% p.a. – 4.50% p.a. | 1.35% p.a. 2.50% p.a. 2.75% p.a. – 3.50% p.a. 4.00% p.a. – 4.25% p.a. 4.75% p.a. | – 2.60% p.a. 2.85% p.a. – 3.75% p.a. 4.10% p.a. – 4.35% p.a. 4.85% p.a. |
| 3.2 | Minimum deposit | MVR 5,600/- | USD 360/- | ||
| 3.3 | Early Redemption / Withdrawal | Interest will be paid 1% below the prevailing interest rates for savings accounts for period of investment at the time of redemption | Interest will be paid 1% below the prevailing interest rates for savings accounts for period of investment at the time of redemption | ||
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| GENERAL OPERATIONS | |||
| 4.1 | Balance 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 200/- MVR 150/- | USD 15/- USD 15/- |
| 4.2 | Pay 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/- |
| 4.3 | Transfer Orders (a) Setting Up Charges (b) Amendments (c) Non-sufficient funds | MVR 50/- MVR 50/- MVR 50/- | USD 5/- USD 5/- USD 5/- |
| 4.4 | ACH Transfers (per transaction) Manual Transfers Outward Inward Internet Banking Transfers | Free Free Free | Free Free Free |
| 4.5 | RTGS Transfers (per transaction) Manual Transfers Outward Transfers Inward Transfers Internet Banking Transfers | Free Free Free | Free Free Free |
| 4.6 | Manual Fund Transfers Internal fund transfers – upto 01 item – Above 01 items | Free MVR 10/- per additional item | Free USD 1/- per additional item |
| 4.7 | Internet 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/- |
| 4.8 | 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) Upto 30 items Above 30 items | MVR 100/- MVR 500/- | USD 10/- USD 50/- |
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| CARDS | |||
| 5.1 | VISA Cards Credit Cards (CLASSIC) (a) Joining fee (b) Annual fee (c) Supplementary Card Joining fee (d) Supplementary Card annual fee (e) Interest rate per month Credit Cards (GOLD) (a) Joining fee (b) Annual fee (c) Supplementary Card Joining fee (d) Supplementary Card annual fee (e) Interest rate per month Credit Cards (PLATINUM) (a) Joining fee (b) Annual fee (c) Supplementary Card Joining fee (d) Supplementary Card annual fee (e) Interest rate per month UNIONPAY Cards Credit Cards (CLASSIC) (a) Joining fee (b) Annual fee (c) Supplementary Card Joining fee (d) Supplementary Card annual fee (e) Interest rate per month Credit Cards (PLATINUM) (a) Joining fee (b) Annual fee (c) Supplementary Card Joining fee (d) Supplementary Card annual fee (e) Interest rate per month Note: UnionPay Cards will be issued in USD Currency and enabled for international transactions only. Debit Cards (a) Joining fee (b) Annual fee Card Fees (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) (g) Cash Withdrawals from other Bank Cards | 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% N/A N/A MVR 50/- MVR 50/- MVR 125/- MVR 50/- MVR 65/- MVR 65/- 3% (Minimum MVR 25/-) MVR 25/- MVR 30/- | 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 15/- USD 35/- USD 15/- USD 35/- 2.85% 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/- USD 2/- |
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| REMITTANCES | |||
| 6.1 | Outward Remittances | ||
| 6.1.1 | SWIFT Payments Commercial or personal transfers | MVR equivalent of the USD amounts MVR equivalent of the USD amounts | 0.67% Up to USD 100,000/- (Min USD 5/-, Max USD 300/-) *+ 0.25% above USD 100,001/- (Min USD 300/- Max USD 500/-)*+ Foreign Bank Charges – Actual + SWIFT/Telex Charges -USD 15/- |
| 6.1.2 | E -Remittance (Expatriate Salaries) To Accounts with – Commercial Bank of Ceylon – Sri Lanka – Commercial Bank of Bangladesh To Sri Lankan and Bangladesh Other Bank Accounts E-Remittance (Commercial transfers) To CBC – Sri Lanka or other Sri Lankan Accounts | MVR equivalent of the USD fee MVR equivalent of the USD fee MVR equivalent of the USD amounts | 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/- 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 following banks will apply SWIFT charges and other Foreign Bank Charges. People’s Bank Nations Trust Bank (NTB) Standard Chartered Bank HSBC Deutsche Bank *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 following Banks will apply SWIFT and other Foreign Bank Charges. People’s Bank Nations Trust Bank (NTB) Standard Chartered Bank Hong Kong & Shanghai Bank Corporation (HSBC) Deutsche Bank |
| 6.2 | Inward 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/- |
|
| 6.3 | Inquiries (Inward / Outward Remittances – SWIFT) | USD 15/- | |
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| ADVANCES | |||
| 7.1 | Interest Rates | ||
| 7.1.1 | Base Rate | 01 month or 03 months SOFR | |
| 7.1.2 | Loans 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. 13.50-14.75% p.a 9-12% p.a. 9-12% p.a. | 3 month term SOFR + Risk based margin (5% – 10%p.a) |
| 7.1.3 | Overdrafts Corporates SME Retail | 10% – 13% p.a 12% – 14% p.a 11% – 15% p.a. | 1 month term SOFR+Risk based margin (6% -10% p.a) |
| 7.1.4 | Facilities Against Deposits (90% of the Savings or Fixed Deposit) | 7.5% p.a. | 7.5% p.a. |
| 7.1.5 | Temporary Overdrafts (Sanctioned Limits) | 13% – 18% p.a. | 12% – 16% p.a. |
| 7.1.6 | Casual Overdrafts (Unauthorized drawings) | 20% p.a | 18% p.a |
| 7.2 | Facility arrangements fees and Other Charges | ||
| 7.2.1 | New 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/- 0.75% (Min MVR 1,000/-) 0.5% of the loan amount 0.5% of the loan amount (Max MVR 25,000) | |
| 7.2.2 | Enhancements (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) |
| 7.2.3 | Extension (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) |
| 7.2.4 | Amendments(except increase in term of facilities) | MVR 1,000/- | USD 100/- |
| 7.2.5 | Undrawn 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/- |
| 7.2.6 | Early 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 |
| 7.2.7 | Overdue 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 |
| 7.2.8 | Facility Secured by Cash | Below 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. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| IMPORT TRANSACTIONS | |||
| 8.1 | LETTERS OF CREDIT | ||
| 8.1.1 | Issuing Commission (Including Tolerance) | ||
| 8.1.1.1 | Sight 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/- |
|
| 8.1.1.2 | Usance 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/- |
|
| 8.1.2 | Extensions (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 | 0.35% PM 0.5% PM USD 25/- USD 15/- Actual |
|
| 8.1.3 | Enhancement (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 |
|
| 8.1.4 | Other Amendments Handling Charges SWIFT Charges Foreign Bank Charges | USD 35/- USD 15/- Actual |
|
| 8.1.5 | Local LC Advising Charges – From Beneficiary | USD 20/- | |
| 8.1.6 | LC 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% | |
| 8.1.7 | LC Cancellation Handling Fee SWIFT Charges | USD 25/- USD 15/- |
|
| 8.2 | SHIPPING GUARANTEES/ADVANCE DOCUMENTS | ||
| 8.2.1 | Shipping Guarantee Commission On Invoice value Minimum | 0.375% USD 25/- |
|
| 8.2.2 | Shipping Guarantees Outstanding beyond one month of issuance | USD 10 PM | |
| 8.2.3 | Advance Documents | USD 30/- |
|
| 8.3 | DOCUMENTARY COLLECTION | ||
| 8.3.1 | Documents Against Payment (D/P) Commission Minimum SWIFT Charges Postages | 0.5% of value USD 25/- USD 15/- Actual |
|
| 8.3.2 | Documents Against Acceptance (D/A) Commission Minimum SWIFT Charges Postages | 0.5% of Value USD 25/- USD 15/- Actual |
|
| 8.3.3 | Overdue DA Bills Commission | USD 25/- PM | |
| 8.3.4 | Amendments Commission | USD 20/- |
|
| 8.3.5 | Collection Bills – Other Charges Return of documents not paid Courier charges SWIFT Charges | USD 25/- Actual USD 15/- |
|
| 8.4 | LC BILLS PAYMENT | ||
| 8.4.1 | Sight Commission Minimum SWIFT Charges Foreign Bank Charges Discrepancy Charges | 1% USD 25/- USD 15/- Actual USD 100/- |
|
| 8.4.2 | Usance Acceptance Commission Minimum SWIFT Charges Foreign Bank Charges Discrepancy Charges | 1% USD 25/- USD 15/- Actual USD 100/- |
|
| 8.5 | GUARANTEES | ||
| 8.5.1 | Issuing 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/- |
| 8.5.2 | Amendments | ||
| 8.5.2.1 | Extension within same quarter | MVR 250/- | USD 25/- |
| 8.5.2.2 | Extension exceeding previously charged quarter (for each 90 days on available Balance) Extension after expiry and Enhancements Against 100% cash margin for each Guarantee 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/- |
| 8.5.2.3 | Other Amendments | MVR 500/- | USD 50/- |
| 8.5.3 | Processing Fee Bank and Approved Formats Other Formats | NIL MVR 100/- | NIL USD 10/- |
| 8.5.4 | Claims handling Charge | MVR 100/- | USD 10/- |
| 8.5.5 | Cancellation of Guarantees Non Submission of Original Guarantee Bond after expiry. Submission of Original Guarantee Bond | MVR 100/- No Charge | USD 10/- No charge |
| 8.5.6 | Advising Guarantees issued by foreign banks without any responsibility of bank | USD 15/- | |
| Item No. | Description | FEE/RATE (MVR) | FEE/RATE (USD) |
|---|---|---|---|
| EXPORT TRANSACTIONS | |||
| 9.1 | Letter of Credit Advising | ||
| 9.1.1 | L/C Advising Customer (beneficiary) Non Customer (beneficiary) To applicant | USD 35/- USD 50/- USD 75/- |
|
| 9.1.2 | L/C Amendments Enhancements Extension Other Amendments | USD 30/- USD 25/- USD 25/- |
|
| 9.1.3 | LC Confirmation | 0.75% PQ | |
| 9.1.4 | LC Cancellation | USD 30/- |
|
| 9.2 | Export Bills – Documentary Collections (DP/ DA) | ||
| 9.2.1 | On Collection Basis Collection Commission | 0.25% Minimum USD 25/- |
|
| 9.2.2 | Purchase/Discount of Bills Discounting Interest rate Commission | SOFR 1 month +11% Minimum USD 50/- 0.5% Minimum USD 25/- |
|
| 9.3 | Export Bills – Under Letter of Credit | ||
| 9.3.1 | Negotiation/Purchase Discounting interest Commission | SOFR 1 month +11% Minimum USD 50/- 0.75% Minimum USD 25/- |
|
| 9.3.2 | On Presentation Basis Commission | 0.75% Minimum USD 25/- |
|
| 9.4 | SWIFT Charges Per Message | USD 15/- | |
H.Filigasdhoshuge,
Ameeru Ahmed Magu,
Male 20066
+960 3332668
