Government sponsored loan

Our Government Sponsored Loan addresses the needs of low-income households by providing loan solutions with low interest rates and a grant element by the government.

Government Sponsored Loan 6.5%* p.a

Purposes

  • construction of a house on a land belonging to the client or a land leased by the government¬†
  • purchase of a house/apartment¬†
  • extension of an existing house¬†
  • completion of a house under construction¬†
  • renovation and repairs of a house

Eligibility criteria

  • Monthly household income up to Rs 20,000¬†
  • The client should already own his/her own land
  • House area up to 110m2¬†
  • The client should be civilly married¬†
  • The client needs to have a PEL A/C opened at MHC and have regularly contributed on a monthly basis within a period of 12 months preceding the registration of his/her application¬†

Enjoy the Benefits

  • Lower interest rate as from 6.5%* p.a.¬†
  • Up to Rs 325,000 as loan amount (including Government Grant)¬†
  • Up to 20% of loan amount as Government Grant, subject to a maximum of Rs 33,000¬†
  • Up to 25 years of repayment term

* conditions apply

Features

  • Interest Rate:¬†
- 1st 5 years : 6.5%* p.a.
- 6th to 10th year : 8% p.a.
- Remaining term : 10% p.a.
  • Monthly repayment to income should not exceed 33%

Indicative repayment table

Loan Amount

Govt Grant

Net Amount

Term

Rate of Interest and Monthly Equated Payment* (MEP)

(Rs)

(Rs)

(Rs)

(years)

1st to 5th yr at 6.5% p.a.

6th to 10th yr at 8% p.a.

remaining period at 10% p.a.

50,000

10,000

40,000

15

349 

372 

390 

20

299 

327 

356 

25

271 

303 

340 

100,000

20,000

80,000

15

697 

745 

780 

20

597 

654 

713 

25

541 

606 

681 

250,000

33,000

217,000

15

1,891 

2,020 

2,115 

20

1,618 

1,775 

1,934 

25

1,466 

1,644 

1,848 

325,000

33,000

292,000

15**

2,544 

2,718 

- 

20

2,178 

2,388 

2,601 

25

1,972 

2,212 

2,487 

 

*MEPs exclude Insurance Premiums
**MEP figures not available as MEPs exceed repayment to income of 33%

Fees and charges

For more details regarding your request please contact us on 405 5555 or call our nearest branch

Purposes
  • construction of a house on a land belonging to the client or a land leased by the government¬†
  • purchase of a house/apartment¬†
  • extension of an existing house¬†
  • completion of a house under construction¬†
  • renovation and repairs of a house
Eligibility criteria
  • Monthly household income up to Rs 20,000¬†
  • The client should already own his/her own land
  • House area up to 110m2¬†
  • The client should be civilly married¬†
  • The client needs to have a PEL A/C opened at MHC and have regularly contributed on a monthly basis within a period of 12 months preceding the registration of his/her application¬†
Enjoy the Benefits
  • Lower interest rate as from 6.5%* p.a.¬†
  • Up to Rs 325,000 as loan amount (including Government Grant)¬†
  • Up to 20% of loan amount as Government Grant, subject to a maximum of Rs 33,000¬†
  • Up to 25 years of repayment term

* conditions apply

Features
  • Interest Rate:¬†
- 1st 5 years : 6.5%* p.a.
- 6th to 10th year : 8% p.a.
- Remaining term : 10% p.a.
  • Monthly repayment to income should not exceed 33%
Indicative repayment table

Loan Amount

Govt Grant

Net Amount

Term

Rate of Interest and Monthly Equated Payment* (MEP)

(Rs)

(Rs)

(Rs)

(years)

1st to 5th yr at 6.5% p.a.

6th to 10th yr at 8% p.a.

remaining period at 10% p.a.

50,000

10,000

40,000

15

349 

372 

390 

20

299 

327 

356 

25

271 

303 

340 

100,000

20,000

80,000

15

697 

745 

780 

20

597 

654 

713 

25

541 

606 

681 

250,000

33,000

217,000

15

1,891 

2,020 

2,115 

20

1,618 

1,775 

1,934 

25

1,466 

1,644 

1,848 

325,000

33,000

292,000

15**

2,544 

2,718 

- 

20

2,178 

2,388 

2,601 

25

1,972 

2,212 

2,487 

 

*MEPs exclude Insurance Premiums
**MEP figures not available as MEPs exceed repayment to income of 33%

Fees and charges

For more details regarding your request please contact us on 405 5555 or call our nearest branch

2020 MHC - Mauritius Housing Company Ltd