Mauritius - Guidance To Apply Student Loan

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Procedure

Apply in Person

1. To apply for a student loan under the New Student Loan Scheme, the applicant should make the application to any of the commercial banks in Mauritius that offer the loan to eligible students. Please view the list of some commercial banks that provide the loan service in the “Office Locations & Contacts” section below or through this Banks Contacts Details
2. Visit any of the commercial banks in person and obtain the application form for student loan application at the reception along with the checklist of the “Required Documents section” below.
3. Read and complete the application form as required and then prepare all the required supporting documents and attach the document to the application form in a single file.
4. Visit the bank and submit the application in the student loan service section. Note that the application is free.
5. The official at the service section will receive the loan application file and verify if it contains all the requirements and the applicant will be issued with the acknowledgment receipt of the application.
6. The application will then be forwarded to the responsible loan officer for assessment and processing.
7. The loan unit of the bank will evaluate the application to determine if the applicant qualifies for the loan as per the bank’s policy.
8. If the applicant meets the required merits of the loan, the loan application will be approved by the loan unit of the bank and the applicant will be notified of the approval through his/her contact details.
9. Then the loan will be processed and disbursed to the learning institution or the applicant’s account according to the bank’s policies.

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Required Documents

Some of the documents that a bank might ask applicants to submit or present are:

• Completed Loan Application form
• Proof of identity - National ID Card or Passport
• Birth certificate
• Marriage certificate (if applicable)
• Admission letter
• Evidence of income - an employment letter stating your salary, years of service, and designation
• Last 3 salary slips
• Last 3 utility bills.
• Bank statements for the last six months from your previous banker

Note: The bank may ask the applicant to present additional documents, please confirm with the bank for all the required documents.

Office Locations & Contacts

ABC Banking Corporation Ltd
Head Office & Main Branch
Address: WEAL HOUSE, Duke of Edinburgh Avenue,
Place d’Armes,11328, Port Louis
Tel: (+230) 206 8000 or (+230) 208 0088
Email: [email protected]

Bank of Baroda.
Address: P.B. No. 553 No.32,Sir William Newton Street,
Port Louis Mauritius
Telephone
General: (230) 208 1504/05 or (230) 208 3891/93
Email: [email protected]

Bank One Limited.
Address: 16, Sir William Newton Street
Port Louis, Mauritius
Tel: 230 202 9200
Fax: 230 212 8883
Cards Hotline: 230 467 1900

SBI(Mauritius) Ltd.
Address: 6th & 7th Floor SBI Tower Mindspace,
Bhumi Park,
45, Ebene Cybercity,
Mauritius
Tel: (230) 404 4900
Email: [email protected]

State Bank of Mauritius
Address:SBM TOWER1, Queen Elizabeth II Avenue,
Port Louis, MAURITIUS
Tel: (+230) 202 1111
Email: [email protected]
Banks Contacts Details

Eligibility

• Parent or Guardians or Students are eligible to apply for the student loan provided that the student meets the required criteria stipulated by the bank.

Fees

• The application is free.

Validity

• The loan is valid for the period issued by the bank depending on the terms of the student loan.

Documents to Use

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Sample Documents

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Processing Time

• The loan is processed within one month depending on the bank.

Related Videos

Videos explaining the procedure or to fill the applications.
Attach videos using the following tag <&video type='website'>video ID|width|height<&/video&> from external websites.
Please remove the '&' inside the tags during implementation.
Website = allocine, blip, dailymotion, facebook, gametrailers, googlevideo, html5, metacafe, myspace, revver,
sevenload, viddler, vimeo, youku, youtube
width = 560, height = 340, Video ID = Can be obtained from the URL of webpage where the video is displayed.
e.g In the following url 'http://www.youtube.com/watch?v=Y0US7oR_t3M' Video ID is 'Y0US7oR_t3M'.

Instructions

• Read the loan agreement carefully before signing it, take note of the interest rate, grace period, when you will start repaying the loan, and any penalties in case of default.

Required Information

• Name.
• Applicant details.
• Contact details.
• Address details.
• Learning organization information.
• Loan details.
• Signature and date.

Need for the Document

• The student loan assists the student in pay for the education needs of the student at the learning institution.

Information which might help

Enter other information which might help.

Other uses of the Document/Certificate

Please explain what are other uses for obtaining this document/certificate.
e.g. Birth Certificate can be used as proof of identity.

External Links

Ministry of Education, Tertiary Education, Science, and Technology

Others

More information which might help people.