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Mauritius: The interest rate savings account decreased since June 2013

While the rate of the Central Bank of Mauritius has remained stable with a maintenance at 4.65% since June 2013, the interest rates of savings (saving deposit rate) in parallel accounts has not ceased to fall.
The savings deposit rate thus fluctuated between 2.75% and 3.65% in June 2013, but since July 2013, there it tends to constrict (2.75%-3, 4%).
As has been the case until September 2013. In October, the savings deposit rate has again decreased (2.5%-3, 4%), and this interest rate has been in effect for five months.
The last decline in the interest rates of savings accounts has been effective in March 2014. The rate today is then between 2.4% and 3.4%.
For a simple comparison, we note that the savings rate was a variation between 3.5% and 4.25% in June 2011.
In turn, the prime lending rate (rate of interest on the loan) has remained unchanged since last October, fluctuating between 6.25% to 8.50%, as reported by Business Magazine.

Fabrice François

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