Loans & Other Credit Facilities

Service Charges for Loan Documentation (Commission MVR/USD)

Rang

Commission

If Advance Amount

Up to 250,000

500

If Advance Amount

250,001 to 500,000

2000

If Advance Amount

500,001 to 1 Mn

5000

Above 1 million (Mini 10,000 /Max 25,000)

0.25%

Service Charge on fully secured (Cash Backed)

USD

MVR

Advance

50

500

Interest Rate for Credit Facilities

USD

MVR

Loans

8.5% - 11%

9% - 13%

Secured Overdrafts

9% - 12%

10% - 13%

Temporary Overdrafts

15% - 19%

17% - 19%

Casual OD

19%

19%

Credit Facilities Against the Cash Back Security

Loans

Margin

Loan against same Currency

4%

USd Loan against MVR

4%

MVR Loan against Dollar

5%

Overdrafts

Margin

POD against same currency

5%

USD Overdrafts against MVR

5%

MVR Overdrafts against Dollar

6%

Monthly commitment fee - (If not utilised at least 75% of the POD)

0.5%

(Additional 1% charge on 3rd party deposit other than the above margin)

Special Advance Rates will be applied at the discretion of the Country Manager depend of the credit risk

Issue of Letter of Guarantees (Commissions)

Backed by Cash

1.25%

Cash Deposits

1.50%

Counter Guaranee - BOC

1.75%

Counter Guarantee - Other Banks

2.00%

Property Mortgage

2.50%

Other Securities

3.00%

Same day Guarantee issuance Charges

MVR 500

Minimum USD 50 / MVR 500

Enhancement as same as above

Amendment Charges

USD 10 MVR 500

Letter of Comfort

MVR 500

Early Settlement Fee

5% of the amount early settled