The Interest-bearing Current Account is the ideal account if you’re just starting out or expect frequent access to your funds.
It operates like a conventional current account with the additional benefit of interest gained on deposits (1).
Amounts deposited bear interest accrued to your account at the end of a semester.
Who can use this account?
Any physical person of legal age or even a minor - either Mauritian Resident or nonresident. For a minor child, due authorisation from parent(s) or the legal responsible party is required. An Interest-bearing Current Account has no time limit attached.
Benefits of the Interest-bearing Current Account
- Instant availability: deposits and withdrawals on your Interest-bearing Current Account may be made at any time.
- Interest rate: Savings rate - 1% (subject to your credit balance being above MUR 7,000).
- Guaranteed capital: the capital of your Interest-bearing Current Account is guaranteed and is regularly remunerated.
- BIC code: your account bears its own bank identity code, such as required for the payment of utility bills or regular payment undertakings vis-à-vis service or product providers, enabling transfer / debit of cash directly to / from your account.
Features
| Eligibility |
All physical persons of legal age |
| Minimum opening amount |
MUR 1,000 |
| Minimum threshold to earn interest |
MUR 7,000 |
| Deposits and withdrawals |
Free, with no limits |
| Threshold |
Unlimited |
| Availability |
Total and immediate |
| Payment of interest |
Twice-yearly (semester end) |
| Term |
Unlimited |
Here you go!
-
Application checklist*
Ready to apply? Here’s what you need to get started:
- Valid identity document (national identity card, passport, etc.);
- Proof of residential address showing name of applicant(s), dated less than 3 months;
- Proof of income (latest salary slip, employment certificate from current employer, latest income tax notice).
(1) Conditions apply.
(2) Base Savings Rate -1% - Conditions apply.
*This list is not exhaustive.
