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Loans and Advances

Loans and Advances

Loan and Advances Content

RETAIL LOAN CAMPAIGN AS FROM 10.06.2022

1. SBI HOME LOAN

SBI Home Loan is a type of housing loan for purchase/ Construction/ Renovation of house /Flat/Additional Construction/Improvement etc. It is also for refinancing of existing Housing Loan from other Financial Institutions.

Eligibility : Individuals Employees of Private & Public Sectors and Self Employed Individuals
Amount : Maximum up to 100% of Total Project Cost*. (Minimum Amount: Rs. 100,000/-; Maximum Amount: No limit.)
Security : 1st Rank Fixed Charge on Land/Building.
Repayment : Maximum upto 30 years*

 

2. SBI REALTY LOAN - Purchase of Land for Construction of House
Eligibility : Individuals above 18 years of age of private & public sectors & self employed
Loan Amount : Up to 100% of Total Project cost*
Security : 1st Rank fixed charge on land. Pledge of salary if employed House to be constructed within 2 years
Repayment : Maximum upto 30 years*

 

3. SBI MORTGAGE LOAN

SBI Mortgage loan is designed for General Purpose (Low interest rate)

Eligibility : Individuals Employees of Private & Public Sectors and Self Employed Individuals
Amount : Minimum - Rs 100,000; Maximum - No Limit. (LTV upto 80 % of Market value as per recent Valuation report)
Security : Fixed Charge on assets such as land/building
Repayment : up to 15 years

 

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI  @ 2.99% p.a.
            15 Years                        :                   3.11 %
            20 Years                        :                   3.10 %
            25 Years                        :                   3.09 %
            30 Years                        :                   3.08 %

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 3.50% p.a.
            15 Years                        :                   3.65 %
            20 Years                        :                   3.63 %
            25 Years                        :                   3.62 %
            30 Years                        :                   3.61 %

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 4.50% p.a.
            15 Years                        :                   4.65 %
            20 Years                        :                   4.63 %
            25 Years                        :                   4.62 %
            30 Years                        :                   4.61 %

CONCESSIONAL RATE OF INTEREST FOR HOUSING/REALITY/MORTGAGE LOAN SCHEMES:-

 

Housing/Realty/ Mortgage Loan above Mur 20.0 Mio

Rate of interest: PLR minus 2.26%, presently @2.99%p.a.; with minimum rate of 2.99% p.a.

Processing Fee: 0.50% of loan amount

Housing/Realty/ Mortgage Loan above Mur 2.0 Mio upto Mur 20.0 Mio

Rate of interest: PLR minus 1.75%, presently @3.50%p.a.; with minimum rate of 3.50% p.a.

Processing Fee: 1% of loan amount

Housing/Realty/ Mortgage Loan above Mur 1.0 Mio upto Mur 2.0 Mio

Rate of interest: PLR minus 0.75%, presently @4.50% p.a.; with minimum rate of 4.50% p.a.

Processing Fee: 1% of loan amount

Housing/Realty/ Mortgage Loan upto Mur 1.0 Mio

Rate of interest: PLR, presently@ 5.25%p.a.

Processing Fee: 1% of loan amount

 

4. SBI CAR LOAN

Purpose: To finance New/Reconditioned Car & Second hand Car / Vehicle

Eligibility : Individuals Employees of Private & Public Sectors and Self Employed Individuals
Amount : Upto 85 % of Total Cost (On Road Price).Minimum Amount: Rs. 100,000/-; Maximum: No Limit.
Security : Lien/GSD on vehicle.
Repayment : Minimum: 3 Years; Maximum: Up to 7 Years.

 

 Car Loan (Non-Hybrid vehicles) above Mur 2.0 Mio : Rate of interest: PLR minus 1.26%, presently @3.99% p.a.; with minimum rate of 3.99% p.a.
Processing Fee: 0.5% of loan amount

 

Loan Repayment Period : Annual Percentage Rate (APR)

             3 Years                        :                   4.30 %

             4 Years                        :                   4.24 %

             5 Years                        :                   4.20 %

             6 Years                        :                   4.18 %

             7 Years                        :                   4.16 %

Car Loan (Hybrid & Electric vehicles) above 
 Mur 0.5 Mio

Rate of interest: PLR minus 1.26%, presently @3.99% p.a.; with minimum rate of 3.99% p.a.
Processing Fee: 0.5% of loan amount

Car Loan above Mur 0.30 Mio 

Rate of interest: PLR minus 0.75%, presently@ 4.50%p.a. with minimum rate of 4.50% p.a.

Processing Fee: 1% of loan amount

Car Loan upto Mur 0.30 Mio

Rate of interest: PLR + 1%, presently@ 6.25%p.a.

Processing Fee: 1% of loan amount

CONCESSIONAL RATE OF INTEREST FOR CAR LOAN SCHEME

 

5. SBI EDUCATIONAL LOAN

Designed for financing courses for diploma, under-graduate, post-graduate, professional courses by approved institutes.

Eligibility : Student pursuing studies abroad or in Mauritius
Loan Amount : No limit (Depending on total course fees & other expenses & Customers' repayment capacity)
Security : 1st Rank Fixed Charge on Land/building
Repayment : Maximum 10 years inclusive of Moratorium period
Moratorium : Repayment will commence 6 months after completion of course or 5 years after disbursement of 1st instalment, whichever is earlier. Interest Payable monthly.
     

 

Loan Repayment Period : Annual Percentage Rate (APR)

             3 Years                        :                   4.73 %

             4 Years                        :                   4.62 %

             5 Years                        :                   4.56 %

             6 Years                        :                   4.52 %

             7 Years                        :                   4.49 %

             8 Years                        :                   4.47 %

             9 Years                        :                   4.45 %

           10 Years                        :                   4.44 %

 

CONCESSIONAL RATE OF INTEREST FOR EDUCATIONAL LOAN SCHEME

Educational Loan above Mur 2.0 Mio

Rate of interest: PLR minus 1.26%, presently @3.99% p.a.; with minimum rate of 3.99% p.a.

Processing Fee: 0.50% of loan amount

Educational Loan above Mur 0.3 Mio upto Mur 2.0 Mio 

Rate of interest: PLR minus 0.75%, presently @4.50% p.a.; with minimum rate of 4.50% p.a.

Processing Fee: 1% of loan amount

Educational Loan upto Mur 0.30 Mio 

Rate of interest: PLR + 1%, presently@ 6.25% p.a.

Processing Fee: 1% of loan amount

6. SBI EASY LOAN FOR GOVERNMENT EMPLOYEES

To finance any personal expenses, other than for speculative purposes at flexible terms.

Low interest rate

Eligibility : Confirmed Employees of Government & Para-statal bodies (With minimum salary/Income of Rs.15,000/- per month)
Amount : Limit, Equivalent to 2 Months’ of Basic Salary; Maximum- Rs. 200,000/-.
Security : Credit agreement by borrower/ Irrevocable Salary Pledge
Repayment : To be renewed every year.

 

7. SBI CAR CASH

General Purpose 

Low interest rate

Eligibility : Existing Car Loan Customers (with satisfactory repayment history); Salaried or Self Employed with minimum Income of Rs. 20,000/- Monthly
Amount : Limit, Equivalent to 1 Months’ of Basic Salary/Income; Maximum- Rs. 25,000/-.
Security : Credit Agreement 
Repayment : To be renewed every year

 

8. SBI HOME CASH

General Purpose

Low interest rate

Eligibility : Existing Housing Loan Customers (with reputed/ satisfactory repayment history); Salaried or Self Employed with minimum Income of Rs. 20,000/- Monthly
Amount : Limit Equivalent to 1 Months’ of Basic Salary/ Income; Maximum- Rs. 50,000/-.
Security : Credit Agreement
Repayment : To be renewed every year

 

9. SBI CAR ADVANTAGE 

To finance New/Recon Car

Low interest rate

Eligibility : High Net-worth salaried or self employed customers including expatriates (Net Monthly income of applicant should be Rs100,000 & above)
Amount : Upto 100 % of Total Cost (On Road Price).Minimum Amount: Rs. 100,000/-; Maximum: No Limit.
Security : Lien/GSD on vehicle.
Repayment : Minimum: 3 Years; Maximum: Up to 7 Years.
10. SMART CREDIT  

Smart credit is an overdraft facility to finance any personal expenses, other than for speculative purposes at flexible terms and a card is provided to the customer.

Eligibility : Permanent employees of Govt / parastatal / firms of repute / self employed - with steady source of income.
Amount : 3 months basic salary, maximum Rs 100,000/-
Security : Pledge of Salary / Insurance / Credit Agreement. For self employed: 1st Rank Fixed Charge on land / building.
Repayment : 12 months

 

 

11. PERSONAL EASY LOAN

Personal Loan is a scheme to finance any personal expenses, other than for speculative purposes at flexible terms.

Eligibility : Permanent employees of Govt / parastatal / firms of repute with minimum gross monthly salary of Rs 15,000/-
Loan Amount : 12 months of basic salary with a maximum of Rs 500,000/-
Security : Salary Pledge & Loan Agreement and Insurance + Decreasing Term Assurance
Repayment : Maximum 84 months
 
12. PERSONAL LOAN FOR SELF EMPLOYED
Eligibility : Self Employed - Minimum income Rs 10,000/- monthly
Loan Amount : Maximum of Rs 350,000/-
Security : 1st Rank Fixed Charge on Land and Building
Repayment : Maximum 96 months

 

13. ADVANCE AGAINST TERM DEPOSIT
Eligibility : Any customer with a Fixed Deposit either in his name or a third party
Loan Amount : Upto 90% of Fixed Deposit amount
Security : Lien on Fixed Deposit
Repayment : Up to 10 years - Longer period is also considered upon request.

 

14. SBI EXPRESS LOAN

Special scheme open only to existing housing/realty loan SBI customers including self employed with regular repayment.

Eligibility : Open on existing Housing Loan customers
Loan Amount : Permanent Employees: 15 months basic salary; maximum Rs350,000/-
  : For Self Employed: Maximum Rs350,000/-
Security : Permanent Employees: Pledge of Salary/Loan Agreement
  : For Self Employed: 1st Rank Fixed Charge on land/building
Repayment : Without security: 48 months
  : With security: 96 months
Note: Terms & Conditions apply. The offers are subject to change without prior notice.

 

Branches Contact Details

Branch Name Mobile Number Telephone Email id
Triolet 52538448 2614050 triolet@sbimauritius.com
Rosebelle 52513099 6279042 rosebelle@sbimauritius.com
Ebene 52515972 4044980 ebene@sbimauritius.com
Main Branch 52560681 2034913 portlouis@sbimauritius.com
Rose Hill 52521107 4646509 rosehill@sbimauritius.com
Central Flacq 59445336 4132110 centralflacq@sbimauritius.com
Mt. Blanche 52521106 4375119 mteblanche@sbimauritius.com
Mahebourg 52521101 6319655 mahebourg@sbimauritius.com
Goodlands 52520659 2831859 goodlands@sbimauritius.com
Vacoas 52521116 6868418 vacoas@sbimauritius.com
Rodrigues 52521109 8311591 rodrigues@sbimauritius.com
Curepipe 52521119 6707360 curepipe@sbimauritius.com
Quatre Bornes 52521121 4671610 quatrebornes@sbimauritius.com

 

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