COVID-19: Customer support and our action plan

Relief measures

As a relief gesture to our customers under the current prevailing conditions, our fees will be waived on the following services:

  • Local interbank transfer fee (MACCSS) for both over-the-counter and on internet banking will be waived from 23 March till 30 June 2020.
  • Late payment fee of Rs. 200 on all card transactions will be waived from 25 March till 30 June 2020.
  • Over limit fee of Rs.150 on all card transactions will be waived from 25 March till 30 June 2020.
  • Penalty rate on overdue loans will be waived from 25 March till 30 June 2020.
  • Failed standing instruction fee of Rs.250 will be waived from 23 March till 30 June 2020.

Government scheme: Measures from the Bank of Mauritius to support local economic operators and SMEs in the COVID-19 context

The Support Programme has taken effect from 23 March 2020 and will run up to the end of July 2020.

Applicants availing of these funds must demonstrate that they are being adversely affected by COVID- 19. Payment of rent for those impacted sectors is also included.

Economic operators benefitting from the scheme should use their best efforts not to lay off their employees.

After the due diligence process, banks will disburse the funds to the applicants.

Rate of interest and repayment

  • The facilities are for a period of 30 months, out of which there will be a moratorium of 6 months on capital and interest payments.

  • For the special relief amount, the funds being lend to customer will be at the fixed rate of 1.50 per cent per annum.

  • Repayment under the special relief amount shall be effected on a monthly basis.

Moratoriums

The moratoriums announced by the Bank of Mauritius on the repayment of capital and interest, where applicable, on loans granted by commercial banks aim at temporarily alleviating the financial constraints of those businesses currently experiencing difficulties over the scheduled repayment of loans as a direct result of the COVID-19 pandemic. The moratoriums are as follows:

Category Moratorium
A. Economic operators (excluding small and medium enterprises) 6 months on capital repayments starting 23 March 2020
B. Small and medium enterprises 6 months on both capital and interest repayments as from 23 March 2020

 

Maximum amount to be disbursed per applicant

Indicative amounts that can be disbursed to any customer in the undermentioned sectors are as follows:

Tourism Rs 25 million
Manufacturing Rs 15 million
Export-oriented services Rs 5 million
Argo industry Rs 1 million
SME Rs 0.5 million
Any other sector which has been demonstrably impacted by COVID-19 Rs 0.5 million

 

  • The caps give an indication of how much can be disbursed for these respective sectors and banks should use these indications as a guide and should be reasonable in the amount that they exceed those indicative amounts.

  • Banks should conduct their usual due diligence prior to granting those facilities and should not unreasonably withhold approval if they are satisfied that the borrower has been affected by COVID-19.

  • If a borrower is a customer of several banks, the amount that will be made available by each of the banks should be based on the exposure of the customer to that bank.

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Contact us

Call us on: +(230) 403 8333

Request a callback

Every customer enquiry is important to us. By providing details about your business interests we can direct your enquiry to our most relevant team member.

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

  1. Current: Step 1 of 2 01
  2. 02 Step 02

Reason for contacting us

Enter a topic
Enter a topic

Contact details

Please enter your name
Please enter your telephone number

When may we call you?

Preferred time of day

We will call you within the next 3 business days

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Request a call-back - Your business interests (optional)

Every customer enquiry is important to us. By providing details about your business interests we can direct your enquiry to our most relevant team member.

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

  1. 01 Completed Step 01
  2. 02 Current Step 02

Business size (optional)

Your business turnover

Your industry sector (optional)

Your market interest (optional)

Which international markets interest you?

Add your business interests

Please don’t enter confidential information such as your bank account details here.
All fields are mandatory unless otherwise indicated as optional.

Business size

Your business turnover

Your industry sector

Your market interest

Which international markets interest you?

Request a callback

  • Sorry

We’ve encountered a problem

We couldn’t send your message. Please try again, return later or call us on

+(230) 403 8333

Request a callback

  • Thank you

We’ll be in touch

A Relationship Manager from HSBC Mauritius will give you a call within three business days.

Your interests

  • Business name:
  • Turnover:
  • Sector:
  • Location:
  • International markets:

Add your business interests

We won’t sell your data or misuse it. Read how we handle your details in our cookie policy.

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