Your dream education is now within your reach with MauBank Education Loan. Tailored with flexible repayment options, affordable interest rates and up to 100% financing, get ready for a bright future.
- Students with a proof of course registration leading to a diploma, degree or post graduate degree in any recognised university or from any other recognised course provider.
- For full time students (not employed), loan to be contracted jointly with salaried parties.
- Up to 100%: including institution fees, living expenses, air fares - subject to supporting documents
Duration: Up to 10 years including moratorium on capital for a maximum period of 5 years. The maximum moratorium allowed should not exceed the duration of the study plus six months
Other Terms and Conditions
- Evidence of tertiary educational expenses to be provided at time of application + evidence of fulfillment from borrower for any external event mentioned as condition from University
- Minimum monthly income requirement is MUR 15,000
- Repayment amount should not exceed 50% (for secured loan, 40% for unsecured loan) of applicant’s monthly income inclusive of other commitments towards the Bank or other financial institutions
- Loan Amount: Minimum amount of finance MUR 25,000 to Max MUR 2.0m
- Fixed charge on property
- Decreasing Term Assurance (DTA)
- Salary Pledge
- Insurance on building
- Loan Amount: 12 X basic Salary up to max amount of MUR 150,000
- Salary Pledge of borrower + one guarantor
*Please note that terms and condition apply to the above
*Please refer to PLR in the interest rate