Average bank lending rate in Mauritius
The typical interest rate banks charge businesses and households on loans.
Where it stands
Around 9%: well above the 7% of 2021, and likely nudged up again after the May 2026 hike.
What it means
On a Rs 3 million, 20-year home loan, the jump from 6.9% to 9% adds about Rs 3,900 to the monthly repayment (MoBriefs calculation). That is money not spent elsewhere: a big reason households feel squeezed even when wages rise.
Recent years
| Year | Average bank lending rate |
|---|---|
| 2021 | 6.87% |
| 2022 | 7.5% |
| 2023 | 9.5% |
| 2024 | 9.38% |
| 2025 | 9% |
Why it moved
2021: Low, reflecting the 1.85% Key Rate.
2022: Started rising as the Key Rate was increased.
2023: The full effect of the 4.5% Key Rate reached borrowers.
2024: Eased slightly after the September 2024 rate cut.
2025: Edged down to about 9%.