State Bank of Mauritius

State Bank of Mauritius Achiever is an educational loan for students following courses at universities and training centres in Mauritius and abroad. It offers a moratorium on capital repayment during the period of study. The maximum loan limit is Rs 4,000,000 with 100% financing and attractive interest rates.

Interest Rate :
SBM PLR + 2% p.a. (Secured loan)
SBM PLR + 5% p.a. (Unsecured loan)
SBM PLR + 2% p.a. (Secured against government guarantee)

Benefits:
Wider loan range to suit each customer’s individual needs
Improved cash flow
Customers have the choice to provide the security they can afford
SBM Ex-Amigos members rewarded with a lower rate on SBM Achiever
Free Supplementary Credit Card for the first year
Covers local and overseas educational requirements
Lower interest payable

Eligibility Criteria:
The student should have a secured seat in a university or training centre.
Full-time course: Borrower should be the parents/relatives of the student
Part-time course: Student can be the borrower or co-borrower with parents / relatives

Documentation:
Letter of offer from a university or training centre
Proof of cost and duration of studies
Proof of employment and salary or source of monthly income for  the applicant
National Identity Card / passport of student and borrower
Latest utility bill

Contact Details:
1, Queen Elizabeth II Avenue
Port Louis, MAURITIUS
230 202 1111

For more details http://www.sbmgroup.mu/