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Loans and Advances

Loans and Advances

Loan and Advances Content

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.

Rate of Interest: PLR minus 1.86% p.a i.e 2.99% p.a., with minimum 2.99% p.a. (PLR, presently @ 4.85%)

Eligibility : Individuals Employees of Private & Public Sectors and Self Employed Individuals
Amount : 90% of Total Project Cost. (Minimum Amount: Rs. 100,000/-; Maximum Amount: No limit.)
Security : 1st Rank Fixed Charge on Land/Building.
Repayment : Maximum upto 25 years. 

No processing fee.

Loan Repayment Period : Annual Percentage Rate (APR)

            15 Years                        :                   3.074 %

            20 Years                        :                   3.070 %

            25 Years                        :                   3.068 %

 

SBI CAR LOAN

Purpose: To finance New/Recon Car

Rate of Interest: PLR minus 0.86%, presently @ 3.99% p.a, with minimum 3.5% p.a.

Eligibility : Individuals Employees of Private & Public Sectors and Self Employed Individuals
Amount : 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.

No processing fee

Loan Repayment Period : Annual Percentage Rate (APR)

             3 Years                        :                   4.13 %

             4 Years                        :                   4.11 %

             5 Years                        :                   4.10 %

             6 Years                        :                   4.10 %

             7 Years                        :                   4.09 %

 
SBI EDUCATIONAL LOAN

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

Rate of Interest: PLR minus 0.85% p.a. i.e 4% p.a., with minimum 3.5% p.a. (PLR, presently @ 4.85%)

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.

No processing fee

 

Loan Repayment Period : Annual Percentage Rate (APR)

             3 Years                        :                   4.11 %

             4 Years                        :                   4.11 %

             5 Years                        :                   4.10 %

             6 Years                        :                   4.09 %

             7 Years                        :                   4.09 %

           10 Years                        :                   4.08 %

 
SBI MORTGAGE LOAN 

SBI Mortgage loan is designed for General Purpose.

Low interest rate

Eligibility : Salaried or Self Employed with minimum income of Rs 15,000/- monthly
Amount : Minimum - Rs 100,000; Maximum - No Limit. 80 % of Market value as per recent Valuation report
Security : Fixed Charge on assets such as land/building
Repayment : up to 15 years

 

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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.

 

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

 

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

 

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 : 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.

*T&C applied.

 

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
 
PERSONAL LOAN

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

Eligibility : Permanent employees of Govt / parastatal / firms of repute with minimum gross monthly salary of Rs 7,500/-
Loan Amount : 15 months of basic salary with a maximum of Rs 350,000/-
Security : Salary Pledge & Loan Agreement and Insurance + Decreasing Term Assurance
Repayment : Maximum 48 months
 
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
 
REALTY LOAN - Purchase of Land for Construction of House
Eligibility : Individuals above 18 years of age of private & public sectors & self employed
Loan Amount : 85% of Total Project cost
Security : 1st Rank fixed charge on land. Pledge of salary if employed House to be constructed within 2 years
Repayment : Up to 300 months from the date of first disbursement
 
HOUSING LOAN– Construction / Renovation / Extension

Long-term loan to finance Purchase/Construction/ Renovation of house/flat/Additional Construction/Improvement and also for refinancing of existing Housing Loan from other Financial Institutions.

Eligibility : Individuals above 18 years of age of private & public sectors & self employed
Loan Amount : Up to 90% financing
Security : 1st Rank fixed charge over land. Pledge of salary if employed
Repayment : Up to 300 months from the date of first disbursement Flexible repayment period can be considered Moratorium on capital repayment – maximum 6 months
 
CAR LOAN

Loan to finance New/Reconditioned Cars and other vehicles from Car Dealers primarily for private use.

Eligibility : Salaried or self employed customers
Repayment : Minimum: 3 years, Maximum up to 7 years
Loan Amount :

(i) 85% of Total Cost (On Road Price) for purchase of cars                                                                                                 (ii) 90% of Total Cost (On Road Price) for purchase   of other vehicles                                                      Minimum Amount: Rs 100,000/-;                      Maximum: No Limit

Security : Lien/GSD on Vehicle
     
 
ADVANCE AGAINST TERM DEPOSIT
Eligibility : Any customer with a Fixed Deposit either in his name or a third party
Loan Amount : 85% of Fixed Deposit amount
Security : Lien on Fixed Deposit
Repayment : Up to 10 years - Longer period is also considered upon request.
 
MULTIPURPOSE LOAN
Eligibility : Salaried or Self Employed with minimum steady source of income of minimum Rs15,000/- monthly
Loan Amount : Rs 2 million - Higher limits can be considered upon request
Security : 1st Rank Fixed charge on assets such as land/building
Repayment : Maximum 8 years
 
EDUCATIONAL LOAN

Designed for Students pursuing higher studies in Mauritius or abroad and to finance courses for diploma, under-graduate, post-graduate, professional courses by approved institutes/universities.

Eligibility : Student pursuing studies abroad or in Mauritius
Loan Amount : 100% financing of fees / air ticket / accommodation, etc
Security : Up to Rs100,000/-: 2 guarantors of means
  : Over Rs100,000/-: 1st Rank Fixed Charge on land/building
Repayment : Up to 10 years
Moratorium : Maximum 5 years
 
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

 

 

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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