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Loans and Advances

Loans and Advances

Loan and Advances Content

RETAIL LOAN CAMPAIGN AS FROM 15.02.2023

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 5 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

 

Processing fee: 1%

Note: All other terms and conditions to remain unchanged

APR FOR HOUSING/ REALTY LOANS

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 5.99% p.a.
            15 Years                        :                   6.14 %
            20 Years                        :                   6.12 %
            25 Years                        :                   6.11 %
            30 Years                        :                   6.10 %

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 7.50% p.a.
            15 Years                        :                   7.65 %
            20 Years                        :                   7.63 %
            25 Years                        :                   7.62 %
            30 Years                        :                   7.61 %

 

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

Housing/Realty Loan above Mur 2.0 Mio                            

Rate of interest: PLR minus 1.51%, presently@ 5.99% p.a.

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

Rate of interest: PLR minus 1.51%,; presently @ 5.99% p.a.

Housing/Realty Loan upto Mur 1.0 Mio         

Rate of interest: PLR; presently@ 7.50% p.a.

 

APR FOR HMORTGAGE LOANS

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 6.25% p.a.
            15 Years                        :                   6.40 %
            20 Years                        :                   6.38 %
            25 Years                        :                   6.37 %
            30 Years                        :                   6.36 %

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 6.99% p.a.
            15 Years                        :                   7.14 %
            20 Years                        :                   7.12 %
            25 Years                        :                   7.11 %
            30 Years                        :                   7.10 %

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 7.99% p.a.
            15 Years                        :                   8.14 %
            20 Years                        :                   8.12 %
            25 Years                        :                   8.11 %
            30 Years                        :                   8.10 %

CONCESSIONAL RATE OF INTEREST FOR MORTGAGE LOAN SCHEMES:-

Mortgage Loan above Mur 2.0 Mio                           

Rate of interest: PLR minus 1.25%, presently@ 6.25% p.a

Mortgage Loan above Mur 1.0 Mio upto Mur 2.0  Mio

Rate of interest: PLR minus 0.51%,; presently @ 6.99% p.a.

Mortgage Loan upto Mur 1.0 Mio      

                      Rate of interest: PLR plus 0.49%, presently@ 7.99% p.a.

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.

 

CONCESSIONAL RATE OF INTEREST FOR CAR LOAN SCHEME:-

 

Car Loan (Electric / Hybrid vehicles)                         Rate of interest: PLR minus 1.00%,presently @ 6.50% p.a.

Car Loan (Non Electric / Non Hybrid vehicles)         Rate of interest: PLR; presently @ 7.50%

Processing Fee: 1% of loan amount   

 

 

 

APR FOR CAR LOANS

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 6.50% p.a.
             3 Years                        :                   6.98 %
             4 Years                        :                   6.87 %
             5 Years                        :                   6.81 %
             6 Years                        :                   6.77 %
             7 Years                        :                   6.74 %

Loan Repayment Period : Annual Percentage Rate (APR) for loan at ROI @ 7.50% p.a.
             3 Years                        :                   7.98 %
             4 Years                        :                   7.87 %
             5 Years                        :                   7.81 %
             6 Years                        :                   7.77 %
             7 Years                        :                   7.74 %

Processing Fee: 1% of loan amount 

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.
     

 

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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