MCB’s student loan solutions are aimed at both in-house and external customers; at students seeking financial independence, and at those already in working life who wish to undertake higher education. Delphine Raimond
The MCB Campus loan is the ideal solution for financing academic or professional studies, in Mauritius, abroad or by correspondence, on a part-time or full-time basis,” explains Giovanni Pierrus, Commercial Lead – Retail Strategic Office. This tailor-made loan ensures 100% payment not only of tuition fees, but also of ancillary costs directly linked to studies: airfare, accommodation, school supplies, living expenses, etc. Our MCB advisors diligently analyze loan applications to support students and their parents, or young professionals, in their study projects, and propose solutions tailored to the needs and repayment capacity of the beneficiary”. Competitive interest rates and flexible repayment terms are just some of the advantages.
Two options are available. The first is an unsecured loan (security offered by the borrower to the lender in the event of non-repayment) over 7 years, up to a maximum of Rs 1 million. The second, for which the borrower provides collateral (real estate or investment), can be spread over a maximum period of 20 years. The borrower can also opt to repay principal and interest from the first (annual) disbursement,” says Giovanni, “or repay interest only, initially, for up to six years while studying.
Qualified partners accompany MCB in its educational forums and guide young people towards the right choice of studies. According to Giovanni: “It’s important to embark on a path that you’re passionate about, but that also corresponds to the needs of the job market.”
