SICOM

Applicants

Individuals up to 64 years at time of enrollment with the following professional background:

• Civil servant
• Employees of parastatal bodies
• Employees of state-owned companies & public entities
• Pensioners of schemes administered by SICOM

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

Pensioners of Schemes Administered by SICOM

• No guarantor required 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.
  

• 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 3 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
  

• 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.