My Loans - Unsecured Personal Loan

Our Unsecured Personal Loan is the solution for a quick and easy 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.

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)

By filling in this form, you agree that you have read and understood SICOM Group's Terms of Use & Privacy Policy , which describes how we collect, use, store and disclose your personal data, and you consent to such collection, use, storage and disclosure.

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)
  • 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)