{"id":54,"date":"2020-07-02T15:18:38","date_gmt":"2020-07-02T15:18:38","guid":{"rendered":"http:\/\/192.168.21.185\/sbfpfund\/?p=54"},"modified":"2020-10-02T05:52:48","modified_gmt":"2020-10-02T05:52:48","slug":"personal-loan","status":"publish","type":"post","link":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/?p=54","title":{"rendered":"Personal Loan"},"content":{"rendered":"\n

PERSONAL LOAN<\/strong><\/h2>\n\n\n\n

S<\/strong>CHEME<\/strong><\/p>\n\n\n\n

  1. Loan Ceiling up to – Rs100, 000.<\/li>
  2. Rate of Interest-9% per\nannum<\/li>
  3. Period 3 Years<\/li><\/ol>\n\n\n\n
    • Documents to be submitted for Application <\/li>
    • Letters from Employer\nconfirming that associate and Guarantor is employed in a substantive capacity\nand officer not under report and not proceeding on leave without pay.<\/li>
    • Pay Slip of\nAssociate\/Spouse (if combined salary with spouse) and Guarantor.<\/li>
    • Identity Card \u2013\nAssociate\/Spouse and guarantor.<\/li>
    • After Approval of Loan <\/li>
    • Life Insurance Policy\n(single premium) which will be assigned in favour of the Fund to cover the full\namount of loan.<\/li>
    • Deed of loan \u2013 signed by\nassociate and guarantor.<\/li>
    • Sign Salary Declaration\nAuthority <\/li>
    • Loan granted to be secured by the personal\nguarantee of another associate acceptable to the Fund.<\/li>
    • Loan repayment by equal monthly instalments\ndeducted at source from the salary of the associate.<\/li>
    • Legal proceedings initiated against associate and\nhis guarantor when an associate fails to repay a loan, the associate and the\nguarantor shall bear the costs, charges and commissions which may be incurred\nby the Fund in respect of such proceedings.<\/li>
    • Whenever borrower is proceeding on leave without\npay, he must immediately call at the Fund to make arrangements for the\nrepayment of the loan.<\/li>
    • Where a borrower ceases to be an associate, he will\nbe requested to repay the balance of loan including accrued interests.<\/li><\/ul>\n\n\n\n

      CHECKLIST<\/strong><\/p>\n\n\n\n

      PERSONAL LOAN CHECK LIST<\/h5>\n\n\n\n

      -9% per annum<\/p>\n\n\n\n

      -Period of 3 Years<\/p>\n\n\n\n

      1. Maximum\namount of loan – Rs100,000\/-<\/li><\/ol>\n\n\n\n
        2.      \nDocuments to\nbe submitted for Application <\/h5>\n\n\n\n
        1. Original + photocopy of ID cards [Applicant\n(2) and Guarantor (1)] <\/li>
        2. Original + photocopy of latest Payslip\n[Applicant and guarantor]<\/li>
        3. Pay Slip and ID Card Spouse [if combined\nsalary with spouse]. <\/li>
        4. Photocopy of utility Bill [CEB, CWA or\nMauritius Telecom] for Applicant and Guarantor.<\/li>
        5. Original letter from employer certifying\napplicant is neither under report nor on leave without pay (valid for two weeks\nonly)<\/li><\/ol>\n\n\n\n
          3.      \nAfter\nApproval of Loan<\/h5>\n\n\n\n
          • Life Insurance Policy (single premium) which will be assigned in favour of the Fund to cover the full amount of loan.<\/li>
          • Deed of loan and Salary Declaration Authority \u2013 signed by associate and guarantor.<\/li><\/ul>\n\n\n\n

            4.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Loan granted to be secured by the personal guarantee of another associate acceptable to the Fund.<\/p>\n\n\n\n

            5.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Loan repayment to be deducted at source from the salary of the associate by equal monthly instalments.<\/p>\n\n\n\n

            6.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Legal proceedings initiated against associate and his guarantor when an associate fails to repay a \u00a0loan, the associate and the guarantor shall bear the costs, charges and commissions which may be incurred by the Fund in respect of such proceedings.<\/p>\n\n\n\n

            7.      \nWhenever borrower is proceeding on\nleave without pay, he must immediately call at the Fund to make arrangements\nfor the repayment of the loan<\/p>\n\n\n\n

            8.      \nWhere a borrower ceases to be an\nassociate, he will be requested to repay the balance of loan  including accrued interests.<\/p>\n\n\n\n

            <\/p>\n\n\n\n

            <\/p>\n\n\n\n

            PERSONAL LOAN<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0<\/p>\n\n\n\n

            Interest Rate:\u00a09%<\/strong>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Period:\u00a03 Years<\/strong><\/p>\n\n\n\n

            LOAN REPAYMENT<\/strong><\/p>\n\n\n\n

            RS<\/strong><\/td>RS<\/strong><\/td><\/tr>
            10,000<\/td>318<\/td><\/tr>
            15,000<\/td>477<\/td><\/tr>
            20,000<\/td>636<\/td><\/tr>
            25,000<\/td>795<\/td><\/tr>
            30,000<\/td>954<\/td><\/tr>
            35,000<\/td>1,113<\/td><\/tr>
            40,000<\/td>1,272<\/td><\/tr>
            45,000<\/td>1,431<\/td><\/tr>
            50,000<\/td>1,590<\/td><\/tr>
            55,000<\/td>1,749<\/td><\/tr>
            60,000<\/td>1,908<\/td><\/tr>
            65,000<\/td>2,067<\/td><\/tr>
            70,000<\/td>2,226<\/td><\/tr>
            75,000<\/td>2,385<\/td><\/tr>
            80,000<\/td>2,544<\/td><\/tr>
            85,000<\/td>2,703<\/td><\/tr>
            90,000<\/td>2,862<\/td><\/tr>
            95,000<\/td>3,021<\/td><\/tr>
            100,000<\/td>3,180<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n

            <\/p>\n","protected":false},"excerpt":{"rendered":"

            Loan Ceiling up to Rs100, 000 is made available at a rate of Interest-9% per annum over a Period 3 Years. Loan repayment to be deducted at source from the salary of the associate by equal monthly installments.<\/p>\n","protected":false},"author":1,"featured_media":72,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-54","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts\/54","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=54"}],"version-history":[{"count":7,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts\/54\/revisions"}],"predecessor-version":[{"id":536,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/posts\/54\/revisions\/536"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=\/wp\/v2\/media\/72"}],"wp:attachment":[{"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=54"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=54"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/statutorybodiesfpf.govmu.org\/statutorybodiesfpf\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=54"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}