MHC News

Fixed Deposit - Individual

Sow your means for a blooming future

Individual Fixed Deposits offer even greater convenience and value added propositions. Whether you are saving big or small, our Fixed Deposit constitutes an effective way to grow your money while offering you the choice of earning interest on your investment either on a monthly, quarterly, half yearly or yearly basis or at maturity.

Enjoy the benefits

  • Competitive interest rates of up to 5.80% (p.a)
  • Fixed terms of 12, 24, 36, 48, 60, 72, 84, 96, 108 and 120 months
  • Possibility to open joint accounts (adults)¬†
  • Minors can also hold an account subject to a guardian¬†
  • Loans can be contracted against the Fixed Deposit
  • Choose how often you receive your interest‚ÄČ‚Äď‚ÄČmonthly, quarterly, half-yearly, yearly or at maturity
  • Enjoy guaranteed interest and security for your money

Be on your way to a better investment opportunity.

AER (Annual Effective Rate) - 5.20%

Features

  1. Minimum deposit to open account: Rs 10,000. 
  2. Interest paid monthly*, quarterly, half-yearly, yearly and at maturity.
  3. Interest Rate linked to the Key Rate.

 

  • How do I open an account?
    • You need to contact any MHC office and produce the following documents:¬†
      • Proof of Identity¬†
        • Adults: national identity card¬†and Birth Certificate
        • Minors: birth certificate¬†
      • Residential address
        • Recent utility bill (e.g. CWA/CEB/Telephone/Bank statement) not older than 3 months¬†

In case your cash deposit is greater or equal to Rs 100, 000, you need to produce a proof of sources of funds. 

  • Cash payment limitation
    • As per FIAMLA section 5 (1), we are not allowed to accept cash deposits exceeding 500,000 rupees or an equivalent amount in foreign currency.¬†

Interest Rates

Interest rate (% p.a) with effect from 19 March 2024

Table of Interest Rates

Enjoy the benefits
  • Competitive interest rates of up to 5.80% (p.a)
  • Fixed terms of 12, 24, 36, 48, 60, 72, 84, 96, 108 and 120 months
  • Possibility to open joint accounts (adults)¬†
  • Minors can also hold an account subject to a guardian¬†
  • Loans can be contracted against the Fixed Deposit
  • Choose how often you receive your interest‚ÄČ‚Äď‚ÄČmonthly, quarterly, half-yearly, yearly or at maturity
  • Enjoy guaranteed interest and security for your money

Be on your way to a better investment opportunity.

AER (Annual Effective Rate) - 5.20%

Features
  1. Minimum deposit to open account: Rs 10,000. 
  2. Interest paid monthly*, quarterly, half-yearly, yearly and at maturity.
  3. Interest Rate linked to the Key Rate.

 

  • How do I open an account?
    • You need to contact any MHC office and produce the following documents:¬†
      • Proof of Identity¬†
        • Adults: national identity card¬†and Birth Certificate
        • Minors: birth certificate¬†
      • Residential address
        • Recent utility bill (e.g. CWA/CEB/Telephone/Bank statement) not older than 3 months¬†

In case your cash deposit is greater or equal to Rs 100, 000, you need to produce a proof of sources of funds. 

  • Cash payment limitation
    • As per FIAMLA section 5 (1), we are not allowed to accept cash deposits exceeding 500,000 rupees or an equivalent amount in foreign currency.¬†
Interest Rates

Interest rate (% p.a) with effect from 19 March 2024

Table of Interest Rates

2024 MHC - Mauritius Housing Company Ltd