Home Loans

To qualify for a home loan, certain criteria must be met regarding the bank assessing your ability to finance the loan obligations. There are also many documents that must be submitted to the bank known as KYC (Know Your Client). In Mauritius, foreigners can borrow up to 70% of the property's value, while Mauritian citizens are eligible for up to 100% home loans. Normally your Loan-to-value ratio (LTV) cannot exceed 40% of your monthly income. Interest rates in Mauritius generally start from 3% and above. Below is a list of documents needed:

1. Application form for loan - each bank has its own form for the borrower to complete their details.
2. Submit KYC documentation - various documents that include ID, proof of address, income, bank statements, etc
3. Bank evaluation bank on borrower - the bank receives your documents and analyses them internally.
4. Receive loan offer letter - if eligibility criteria are met the bank will send you an offer letter with terms
5. Pay loan processing fees - if the borrower accepts the offer letter there are admin & processing fees to be paid
6. Loan registration and signature - final documents are signed and loan is registered with bank
7. Disbursement of loan - bank disburses fund to borrower

• Proof of Identification - valid Mauritian ID or passport in case of foreigner
• Proof of Employment - work contract with employer
• Proof of Residence - up-to-date proof of address and place of residence 
• Payslips (6 months) - official monthly payslips of salary show proof of income
• Bank Statements (6 months) - monthly banks statements 
• Title Deed / Deed of sale - to identify and register property being purchased