Financing
Loans & Advances
MCB Seychelles offers a wide range of credit facilities. OurAccount Executives will be pleased to guide you through the different options available:
Car Loan
The MCB Car Loan offers attractive terms for the acquisition of a vehicle. MCB Seychelles contributes up to 80% of the total cost for the purchase of a new vehicle and 70% for a second-hand vehicle.
Repayment terms
Repayment terms
- The capital plus interest is repaid over a maximum term of either
60 months (5 years) for a new car and 36 months (3 years) for a
second-hand vehicle.
Housing loan
The right solutions to finance your most important investment: your home.This credit facility will help you meet the payments related to the construction, renovation or purchase of a house or an apartment or
for the acquisition of bare land.
The Housing Loan can be provided in the following cases:
- Construction of a residence
- Construction of a building (business purposes)
- Purchase of property with a house
- Purchase of bare land
- House renovation/extension
- Home Ownership Scheme
Repayment terms
- The monthly repayment should represent a maximum of 30% of the borrower’s monthly income.
- In the event of fluctuation in interest rates, the monthly repayment shall be adjusted so as to keep the repayment term unchanged.
- To qualify as a ‘household’ income where the capacity of repayment is based on both salaries of husband & wife, both salaries must be credited to the accounts held in our books. In such cases, both parties must be included in the loan contract as co-borrowers.
- All payments of existing commitments/borrowings (MCB Seychelles & other institutions) must be included in the calculation of the customer’s repayment capacity.
- Duration: Up to 15 years
Personal Loan
It is a simple, hassle-free way to turn all your projects into reality. Whether you buy yourself a new flat screen or speedboat, celebrate a family event or need money for unexpected expenses, MCB Personal Loan is the perfect solution.
Personal Loans are repaid within a maximum period of 24 months. The loan amount will be based on the customer’s ability to meet the monthly capital and interest charges.
Repayment terms
Personal Loans are repaid within a maximum period of 24 months. The loan amount will be based on the customer’s ability to meet the monthly capital and interest charges.
Repayment terms
- The amount, purpose and term of the loan must be agreed with the customer.
- The request will be evaluated by examining the creditworthiness of the borrower as well as his ability to repay.
- Up to 24 months
Overdrafts
This revolving credit facility will provide you with an advance on your current account.
The amount and purpose of the overdraft will be agreed with you and depends on your budget or cash flow. The overdraft is repayable on demand and/or subject to periodical review, usually on an annual basis. Balances on the current account should fluctuate within the authorised limit.
The amount and purpose of the overdraft will be agreed with you and depends on your budget or cash flow. The overdraft is repayable on demand and/or subject to periodical review, usually on an annual basis. Balances on the current account should fluctuate within the authorised limit.