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THE MAURITIUS CIVIL SERVICE MUTUAL AID ASSOCIATION LTD.

CHARGES

 

   
 


1. Loans

(i) Charges on normal Personal Loan:
Processing Fee: 0.75% of loan amount

  Mutual Solidarity Premium Period (Months) % on loan amount
   
36
2.25
 
   
42
2.50
 
   
48
2.75
 
   
60 and above
3.25
 
       
(ii)
Recast on loan  
  Processing Fee: 0.75% of loan amount
  The risk premium will be calculated on a pro-rata basis.
       
(iii) Loans secured by fixed deposits
  Processing Fee: 0.75% of loan amount, but the fee should not exceed Rs1000. -
and not less than Rs100.
       
   

2. Term Deposits

(i) The minimum deposit is Rs 10,000.
(ii) Encashment of deposit prior to maturity date: A penalty of 30 days interest will
be applicable.
(iii) In case one month notice is given, no penalty will be charged.

3. Flexi Deposit

  For accounts held for a period of less than 5 years, the applicable interest rate will
be adjusted and will not be in any case less than the ordinary bank savings rate.

4. Retirement Savings Fund

  In case of voluntary withdrawal from the scheme, only half of the accrued lump sum
will be payable
       
© 2013