The Floating-rate Housing Loan of BCP Bank (Mauritius) comes with a variable interest rate.  Hence, monthly repayments will vary as market interest rate changes. With this loan, you can finance any type of real estate acquisition – may it be old or new, a house or an apartment. It may apply to your primary or secondary residence, your own property or rented property. With this loan, you can also acquire land or even a property while it is still at construction stage.

Benefits of the Floating-rate Home Loan

  • If market rates decrease, you are very likely to benefit from a lower rate as compared to a fixed rate.
  • Starting rate is lower than a fixed-rate loan.
  • In case you are buying a property while it is still at construction stage (apartment or individual house), BCP Bank (Mauritius) can allow you to repay only interests and insurances as long as delivery of property is not effective and only integrate repayment of capital once final delivery is done.
  • You can choose the suitable debit day for your repayment.
  • You can manage your reimbursement at your own pace: there are no penalties following an early repayment of the loan.

The floating rate is based on short-term rates, which often prove to be lower than fixed rates. Such a variable rate can fluctuate according to the movement of the Base Lending Rate i.e. either:

  • BCP Bank (Mauritius) Prime Lending Rate for MUR transactions ;
  • Official Euribor rate for Euro; official LIBOR rate for USD: constituting the official interbanking market rate.

Features

BCP Bank (Mauritius) Floating-rate Home Loan is compatible with the bank’s overall flexible loan options that are available:

  • Modalities for revision of maturity date.
  • MODULO option, which allows you to increase monthly repayments from one year to another and consequently reduce the repayment term and more importantly the total final cost of your loan.
  • Reference Index :
    • BCP Bank (Mauritius) Prime Lending Rate for MUR transactions
    • Euribor rate for Euro transactions
    • LIBOR rate for USD transactions

Am I eligible for a loan? Do the test now!

Conditions applying

Eligibility
  • Any person aged between 18 and 60 years old (maximum age at Term - 65 years), wishing to invest in a real estate in Mauritius.
  • Mauritius Residents and non-residents of Mauritian nationality.
Duration
  • Min : 3 months
  • Max : 300 months (25 years)
Loan amount
  • No maximum : Threshold amount for a home loan varies according to repayment capacity (debt-to-income ratio, subsistence allowance, etc.) and the type of project to be financed.
  • Capital contribution : Making capital contribution available to the Bank is compulsory prior to the disbursement of loan funds by the Bank.
  • Borrower(s) insurance cover + House & Building insurance cover : Any loan approval is always subject to a Life insurance in favor of BCP Bank (Mauritius) and a building insurance.
Repayment
  • Repayment (capital + interest) is set up on a monthly basis.
  • The client can define his own chosen repayment day. Otherwise, the debit is systematically effected on the 28th day of the month.
  • Early repayment: subject to terms of contract, a client can either repay part or the whole value of the loan before due term.

Enjoy the benefits

Apply for a floating-rate Home Loan!

  • Application checklist for Mauritian Residents*
    • Valid identity documents (national identity card, passport, etc.).
    • Proof of residential address showing name of bearer(s), dated less than 3 months prior.
    • Proof of income (latest salary slip, employment certificate from current employer, latest income tax return).

    *This list is not exhaustive.