SICOM

Unsecured Loan

Unsecured Loan

Are you in need of a quick loan and you are a civil servant, an employee of parastatal bodies, state-owned companies, public entities & pensioners of schemes administered by SICOM?

About this product

SICOM My SpeedyLoan is the solution for a quick and easy unsecured loan facility and 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.

Highlighted features
  • Competitive Interest Rate

    Attractive interest rate as from 6.30% p.a depending on credit rating

  • Loan Amount

    As from Rs 50,000 and up to Rs 1,000,000

  • Guarantors

    No guarantor required for a Loan up to Rs 300,000

Product Features

Choose SICOM MySpeedy Loan & benefit from:

  • Competitive Interest Rate

    Attractive interest rate as from 6.30% up to 7% p.a depending on credit rating

  • Loan Amount

    Minimum Loan amount is Rs 50,000 and Maximum Loan is Rs 1,000,000.

  • Period

    Up to 7 years, repayable by check-off

  • Guarantors

    No guarantors for loan up to Rs300,000, 1 guarantor for loan up to Rs500,000 & 2 guarantors for loan up to Rs1,000,000

  • SICOM Pensioners

    No guarantor required for Pensioners of Schemes administered by SICOM

  • Security

    Check-Off Mandatory and an adequate life assurance cover

( Terms and conditions apply)*

Useful Information

 

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.

Highlighted features
  • Competitive Interest Rate

    Attractive interest rate as from 6.30% p.a depending on credit rating

  • Loan Amount

    As from Rs 50,000 and up to Rs 1,000,000

  • Guarantors

    No guarantor required for a Loan up to Rs 300,000

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This product is offered by: SICOM Financial Services Ltd

BRN:C07023531

FSC License No: LC06000053