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ECOPlus Green Loan
Are you planning to buy a house or invest in sustainable initiatives such as solar energy, rain water harvesting or electric cars? SICOM ECOPlus Green Loan, will lead you towards a caring lifestyle and supports your contribution towards the society.
About this product
SICOM ECOPlus Green Loan can assist you in supporting your sustainable initiatives all the way through. SICOM ECOPlus is one of the incentives powered by SICOM Go- Green.
Benefit from a tax deduction in your investment in solar energy, rainwater harvesting and fast charger for electric car.
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Competitive Interest Rate
Fixed interest rate of 2% p.a for the first year and variable rate of 5.4% p.a as from second year for loan amount up to Rs15m (Term as from 10 years)
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Security
Adequate immovable property to be given as security
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Repayment Period
Long repayment loan term depending on your age
Product Features
Why opt for SICOM SICOM ECOPlus Green Loan?
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Interest Rate
Fixed interest rate of 2% p.a for the first year and variable rate of 5.4% p.a as from second year for loan amount up to Rs15m (Term as from 10 years)
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Loan Amount
Up to Rs15 million; subject to the quotation from registered suppliers and your repayment capacity.
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Security
Adequate immovable property to be given as security
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Processing Fees
Will depend on loan amount
( Terms and conditions apply)*
Useful Information
- Both salaried and self employed individual
- Non-SICOM customers may also apply
- Certified Copy of National Identity Card(s) (borrower(s) and/or guarantor(s))
- Certified Copy of Marriage/Birth Certificate (borrower(s) and guarantor(s),if applicable
- Certified copy of Trade License & Business Registration Card, if applicable
- A recent Utility Bill (CEB or CWA or Mauritius Telecom)-not more than three months
- Certified copy of bank statements of applicants for last six months
- Certified copy of pay slips for last three months of applicant(s)
- Documentary evidence of any additional income(s) as declared
- Copy of title deed of the property to be given as security
- Affidavit of property owner, if deceased
- Copy of Layout Plan of building, if applicable
- Copy of Site & Location Plan or copy of land surveyor’s report
- Quotation from registered suppliers for the project
- The loan repayment period will depend on age.
- The repayment of the loan in capital and interest and premium(s) payable in respect of life assurance policy(ies) will normally not exceed 40% of applicant(s)’ net income(s) and/or will be subject to the company's appraisal.
- The property to be given as security, if applicable, should have an adequate value and be duly registered in your name(s) or parent(s) and should not emanate from an affidavit of prescription unless thirty years have elapsed from the date of prescription and should be legally in order and/or be subject to approval by the company.
- All relevant costs and expenses including valuation, administrative costs and registration fees as well as processing and documentation fees involved in the making of the loan will be borne by applicants.
- All loans should also be secured by a life insurance cover with the Company.
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Competitive Interest Rate
Fixed interest rate of 2% p.a for the first year and variable rate of 5.4% p.a as from second year for loan amount up to Rs15m (Term as from 10 years)
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Security
Adequate immovable property to be given as security
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Repayment Period
Long repayment loan term depending on your age
This product is offered by: State Insurance Company Of Mauritius Ltd
BRN:C07007065
FSC License No: IS10000020