APR
Annual Percentage Rate: the total yearly cost of borrowing including interest and most fees. It makes it easier to compare loans with different rate and fee structures.
Flat vs reducing interest
Flat interest is charged on the original loan amount for the whole term. Reducing interest is charged only on the outstanding balance, so the total cost is lower for the same quoted number.
PLR
Prime Lending Rate: a benchmark rate published by the Bank of Mauritius. Some loans are quoted as PLR plus a margin, so repayments move when PLR changes.
CSG
Contribution Sociale Généralisée: a social contribution deducted from employee salaries and paid by employers in Mauritius. It replaced NPF contributions.
NSF
National Savings Fund: a compulsory savings contribution for employees, partly funded by the employee and partly by the employer.
MauCAS
Mauritius Central Automated Switch: the national instant-payment system that lets you transfer money between participating banks in real time using an alias or account number.
VASP
Virtual Asset Service Provider: a business that exchanges, transfers or custodies digital assets. In Mauritius VASPs must be licensed by the Financial Services Commission.
GBC
Global Business Company: a Mauritian corporate vehicle used for international business and investment structuring, typically regulated by the Financial Services Commission.
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