• Repayment periods up to 18 years depending on applicant’s age.

• New Loan may be applied after having refunded 8 monthly instalments.

• At least one guarantor is required for applicants less than 60 years old
• No guarantor is required for applicants above 60 years old.

The following conditions shall apply if the loan is secured by a single guarantor:

• In case the guarantor is a loanee the net pay into bank of the guarantor excluding bonuses, overtime and allowances other than travelling & rent should be at least equal to the monthly loan instalment of the loanee.
• In case the guarantor is not a loanee, the net pay into bank excluding bonuses, overtime and allowances other than travelling and rent should be at least twice the loan instalment of the loanee.
• The guarantor should be eligible for the loan amount applied for by the member and the latter’s net pay must cover the full loan instalment.
• The guarantor should also sign an undertaking that he is agreeable to be sole guarantor.

• Interest rate is currently at 9.30 % p.a. and is tagged to the Mutual Aid Base Rate (MBR). It will be automatically adjusted in case of any change in the MBR

• One off processing fee of 1% is applicable on the loan amount.
• A loan coverage fee of 4.50% - 5.50 %for all loan applications will apply to write off the loan in case of death.
• Applicants will be charged Rs50 as Bank of Mauritius (MCIB) fee.
• The amount disbursed will be net of the charges / fees.

Your application should be supported by the following documents:

• Original Pension Certificate issued by the Civil Service Family Protection Scheme Board or Statutory Bodies Family Protection Fund as applicable.
• Original and photocopy of Death Certificate of spouse.
• Original and photocopy of Marriage Certificate.
• Original and photocopy of National Identity Card (NIC) of applicant and guarantor. (NIC with initials should be supported by Birth Certificate)
• Original and photocopy of recent payslip of your guarantor (if applicable).
• Photocopy of bank document showing account number and name of applicants.
• Bank Statement showing name and address / Utility Bill (Central Electricity Board or Central Water Authority or Mauritius Telecom) - not more than 3 months. (If utility bill is not in name of applicant, a written confirmation and NIC should be secured from the utility bill account holder and the original and copy of NIC of signatory).
• Completed E-mailing of Statement of Accounts and the Borrowers Declaration Forms.
• Loan Deduction Authority Form (LDAF) by members/guarantor.
• Loan offset form/ Letter of undertaking (where applicable).

• Applicants should buy three Class C shares amounting to Rs330 in total.
• The total deduction for a pensioner shall not exceed 40% of the monthly pension.
• The guarantor (s) should be a member of the Mutual Aid Association below the age of 60.
• The loan repayment period may not exceed the retirement age of a guarantor, unless the latter’s future pension is sufficient to repay the loan in case of default in payment.
• In case the applicant bears the same surname of the guarantor he / she must disclose his/ her relationship on the loan application form.

For other conditions, please refer to Loan Information Sheet.

• Spouse Loan Application Form
• Spouse Loan Information Sheet
• Sole Guarantor Form
• Guarantor Acceptance Form
• Borrower Declaration Form
• E-mailing of Statement of Account
• Loan Deduction Authority Form (LDAF)
  • LDAF – Accountant General / SICOM Ltd
  • LDAF - C - NTC
  • LDAF - D - NEF
  • LDAF - Pensioner Accountant General
  • LDAF - Pensioner SICOM
  • LDAF - Pensioner Accountant General SICOM
  • LDAF - Cotton Bay Hotel Resort Co Ltd - By Loanee/ Guarantor (S)