It is not always easy to decide how to invest your capital, and our term deposits could provide you with the solution. SPICE offers both fixed and floating interest rate term deposits over periods ranging from 12 to 72 months.
What is a term deposit?
A deposit consists of funds placed into an account at a financial institution. It is a way of investing capital at a pre-determined interest rate for a defined period. The investor will receive regular interest disbursements throughout the agreed duration of the deposit.
Fixed interest rate deposits carry the same rate from the inception to the maturity of the deposit irrespective of changes in the monetary policy.
Variable interest rate deposits are exposed to variations in the Base Deposit Rate (BDR) and Repo Rate which is determined and reviewable by the Bank of Mauritius. Depending on whether the Repo rate increases or decreases, such changes will have a direct impact on the investor's term deposit rate.
At SPICE, the minimum deposit amount is MUR 25,000 for both fixed and floating term deposits.
Please feel free to review our FAQ’s about term deposits or contact us whereby one of our team members will be happy to assist you.