09 Sep 2010
 
Products
Product            
SBM Fixed Rate Loans – Home Loan and Personal Loan      
                 
Description
Are you considering to avail of a loan and pay a fixed repayment monthly despite fluctuations in interest rates? Then, SBM Fixed Rate Loans have been specially designed for you to help you stabilize your monthly cash flow and consist of :

1. Fixed and Floating Rate Home Loan
2. Fixed Rate Personal Loan without Security
 
   
Features
Fixed and Floating Rate Home Loan

• Any Housing Purpose
• First 3, 4 or 5 years (at customer’s option) at fixed interest rate of 12.50% p.a. and floating interest rate of SBM PLR + 1% p.a. thereafter
• Minimum amount Rs100,000/-
• Up to 100% financing for house construction, extension and renovation and Up to 80% financing for acquisition of land, house or apartment
• Up to 20 years for repayment [including Fixed Rate repayment period]
• Decreasing Life Insurance Cover [under Master Policy]
• Terms and Conditions apply


Fixed Rate Personal Loan Without Security

• Any personal purpose
• Fixed interest rate of 15.75% p.a. applicable over the whole tenure of the loan
• No security for credit up to Rs500,000/-
• Up to 5 years for repayment
• Decreasing Life Insurance Cover [Master Policy]
• Terms and Conditions apply
 
   
   
                     
FAQs              
• How much can I borrow?
Fixed and Floating Rate Home Loan – Minimum Rs100,000; No Maximum limit
Fixed Rate Personal Loan - Minimum Rs50,000; Maximum Rs500,000

• What is the maximum repayment period?
Fixed and Floating Rate Home Loan – Up to 20 years
Fixed Rate Personal Loan - Up to 5 years

• What happens if the Bank’s Prime Lending Rate changes?
The interest rate remains fixed during the whole fixed-term period of the loan

• Can I choose between 3, 4 or 5 years for the fixed-term period of my Fixed and Floating Rate Home Loan?
Yes, you may choose as above.
 
For more information please call our hotline on 207 0111
(during weekdays from 08:00 hrs to 18:00 hrs)
 
© 2007 - State Bank of Mauritius Ltd - Business Registration Number: C07002193 - All Rights Reserved