Fixed Deposit Account
A simple, smart and easy way to make your money work for you. Enjoy attractive rates with our fixed term deposit account providing you with secure savings as well as ease of access to your money.
- Save as from a minimum deposit balance of Rs. 30,000 and earn higher interest than your Savings account.
- Choose how long you wish to put your money aside: 12, 24, 36 or 48 months and know how much you’ll end up with right from the start with guaranteed return payable at maturity.
Renew your fixed deposit
You may opt:
- for automatic renewal, or
- provide instruction to transfer your funds upon maturity to your savings account from the start.
If you choose automatic renewal, the prevailing fixed deposit interest rate on the date of maturity will apply and keep your savings growing.
You can also update maturity instructions either through Internet Banking or at your branch 3 days prior to the maturity date. Note however that your fixed deposit can be renewed up to a period not exceeding 7 years after original maturity date.
In case, no instructions have been provided at maturity (i.e. for renewal of the fixed deposit or transfer of funds to your savings account ), the current savings rate will then be applied.
Withdrawal of fixed deposit before maturity
- Individuals aged 18 years and above.
- Account for minors must be operated by the parent or an authorised person.
- Account can be opened for individual(s) (sole or joint).
For joint accounts, a joint mandate must be completed and signed by all parties.
Documents required to open account
- Proof of identity – Mauritian identity card or passport.
- Proof of address – Latest utility bill, either Central Electricity Board, Central Water Authority, or Mauritius Telecom bill.
- For minor accounts – birth certificates will be required.
- Evidence of source of funds may be requested for large cash deposits.
- Bank statements for the last 3 months.
- Proof of work permit.
- Foreign nationals should produce a letter of reference from their main overseas bank.
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