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My Loans - My SpeedyLoan
My SpeedyLoan is the solution for a quick and easy unsecured loan facility for all civil servants, employees of parastatal bodies, state-owned companies, public entities & pensioners of schemes administered by SICOM.
It can be used to finance your personal projects such as: Refurbishment or renovation of your home, Refinancing of an existing loan, Educational purposes, Wedding expenses, Medical expenses etc.
Here's what you can expect
Features
Benefits
- 50 basis point discount on a Finance Lease application
- 5% discount on Motor Insurance Premium
- 15% discount on Home Insurance
- 1st month premium free for a Life Insurance Cover
- Free Funeral cover under SICOM Group Loan Protection Scheme
- No entry fee for any subscriptions in SICOM Unit Trust (SICOM General Fund & SICOM Overseas Diversified Fund)
(Valid up to 3 months after loan disbursement )
Loan Amount
Minimum Loan amount is Rs 50,000 and Maximum Loan is Rs 1,000,000.
Maximum amount will be based on repayment capacity
| Loan Up to Rs 100,000 | No Guarantor |
| Loan Up to Rs 500,000 | 1 Guarantor |
| Loan Above Rs 500,000 up to Rs 1,000,000 |
2 Guarantors |
Period
Up to 7 years, repayable by check-off
Security
Check-Off Mandatory and an adequate life assurance cover.
Guarantors
- Personal guarantors must be civil servants or working in Parastatal Bodies or State Owned Enterprises
- Guarantors must also satisfy the 50% repayment capacity
- Guarantor(s) cannot opt out once the application has been processed
- No guarantor required for Pensioners of Schemes administered by SICOM
(Terms and conditions apply)
This product is offered by
SICOM Financial Services Ltd
BRN: C07023531
FSC License No.: LC06000053
Useful info
Eligibility
- Civil servants
- Employees of Parastatal bodies
- Employees of State-owned companies
- Employees of Public owned entities
- Pensioners of Schemes administered by SICOM
Required documents
- Certified copy of National Identity Card(s) of applicant(s) and/or guarantor(s)
- Certified copy of last month payslip of applicant(s) and guarantor(s)
- A recent Utility Bill (CEB or CWA or Mauritius Telecom)- not more than three months of applicant(s) and/or guarantor(s)
- Letter of Comfort from Employer
- Certified Copy of Marriage/Birth Certificate applicant(s) and guarantor(s), if applicable
General Conditions
General Conditions
- The maximum loan repayment period will be 7 years.
- The monthly repayment of the loan in capital and interest will normally not exceed 50% of applicant(s)’ income(s) and/or will be subject to the company's appraisal.
- A front end fee of one (1%) of the loan is payable and will be deducted from the loan amount upon disbursement.
- Check-Off is mandatory
- All loans should also be secured by a life insurance cover with the Company.
Loan Eligibility for Pensioners of Schemes Administered by SICOM
- Pensioners will be eligible for personal loan only if their pension is paid by SICOM Ltd.
- Pensioners should subscribe to Group Life Protection Scheme.
- At time of application pensioners must not be 65 years old and maximum repayment
term will be 5 years.
(Terms & Conditions Apply)
