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SBI SMART CREDIT

SBI SMART CREDIT


  • For salaried class & self-employed  
  • Open to SBI Customers & Non-SBI Customers
  • Turn your debit card to credit
  • Convenient to use
  • Lower cost than a conventional credit card 

What is the SBI SMART CREDIT ?

  • A debit card with a credit facility of up to MUR 250,000 or even more
  • Multipurpose use
  • Draw cash on ATM in Mauritius and worldwide
  • Pay for your purchases anywhere in the world at point of sales
  • Cheque Book facility is attached to SMART CREDIT
  • Use Internet Banking also on this credit

Features

(1) Salaried Customers 

Eligibility: Minimum basic Salary: MUR 10,000
              Must be in confirmed employment
              Employer: Firm of repute/Parastatal or State

Limit: (i) Unsecured :- 3 months basic salary (Maximum MUR100,000)

           (ii) Secured :- Maximum MUR250,000. Higher limit can be considered

                             if security is adequate.

Rate of Interest: (i) Clean OD :- PLR + 5%

                                (ii) Secured by Fix/Floating Charge:- PLR + 3%

                                (iii) Secured by Fixed Deposit:- Fixed Deposit Rate + 2% - Min PLR

Period: 12 months subject to renewal

Processing Fee: 1% or 0.25% if secured by Fixed Deposit

 

(2) Self-employed 

Eligibility: Minimum monthly income: MUR 10,000

               Own an established business

Limit: (i) Unsecured :- NIL

           (ii) Secured :- Maximum MUR250,000. Higher limit can be considered

                             if security is adequate

Rate of Interest: (i) Clean OD :- N/A

                                (ii) Secured by Fix/Floating Charge:- PLR + 3%

                                (iii) Secured by Fixed Deposit:- Fixed Deposit Rate + 2% - Min PLR

Period: 12 months subject to renewal

Processing Fee: 1% or 0.25% if secured by Fixed Deposit

 

Be Smart Be Relaxed

Apply now at SBI nearest Branch