Category: SBM Group

Dear Valued Customers,

SBM Bank (Mauritius) Ltd is pleased to inform you that all transaction limits set on e-commerce transactions using SBM Credit and Prepaid Cards have been waived effective 15 May 2020.

However, until further notice, the maximum number of daily transactions per credit or prepaid card remains limited to ten.

For more information, kindly contact our Customer Service on +230 202 12 56 or send an email to [email protected]

Kind Regards,
The Management

Dear Valued Customers,
Kindly note that the following branches will be opened on Saturdays starting from tomorrow 9 May 2020 from 9.00 A.M.  to 11.00 A.M.  until further notice.
 
•    Flacq
•    Goodlands
•    Mahebourg
•    Port Louis- Main Branch
•    Rose Belle
•    Rose Hill
•    Vacoas
The following services will be available:
•    Cash withdrawal and deposit
•    Cheque encashment
•    Money Transfer  Cheques deposited shall be processed on Monday or next working day. 
While we are committed to ensure the continuity of our services, our employee and customer safety remain our priority.  We therefore kindly request all customers visiting our branches to wear a mask and gloves. We also invite you to abide by the instructions provided to you by our staff during your visit. 
SBM invites clients to use its digital channels (Internet Banking/Mobile Banking/ATM) and to limit cash usage and branch visits.  
For any query, please contact our Customer Service on 202 12 56 or send us an email at [email protected]
 

The Management
SBM Bank (Mauritius) Ltd

Dear Valued Customer,
We are pleased to announce that we have enhanced the level of security on our SBM e-secure platform with the introduction of a dynamic One-time Password (OTP) for all our credit and prepaid cards, effective 1 May 2020.SBM e-secure platform provides an additional layer of security to our cardholders who perform purchases over the Internet at registered merchants by requesting an OTP to confirm the transaction. The unique 6-digit code is sent to the customer’s mobile phone number or email address registered with the Bank.  Please click here to learn more.

Therefore, clients are kindly invited to ensure that their contact details (Mobile phone number and email address) with the Bank are up-to-date. If not already the case, please call on 207 0111 (from 8.00 A.M. to 6.00 P.M. during weekdays) or visit any SBM branch currently operating.

Ebusiness Team
SBM Bank (Mauritius) Ltd

SBM customers are kindly advised that new interest rates on Mauritian Rupees accounts applicable as from 1 May 2020 will be as follows:

•    SBM Savings Rate: 0.25% p.a.
•    SBM Prime Lending Rate (PLR): 4.25% p.a.

The Management
SBM Bank (Mauritius) Ltd

Dear Valued Customers, 
In line with the Public Notice issued by the Bank of Mauritius on 20 April 2020 entitled “Measures to support Local Economic Operators, SMEs and Households in the COVID-19 Context and Modus Operandi for the disbursement of funds under the Support Programme (Special Relief Amount and Special Account)”, SBM Bank is pleased to present to you the Terms and Conditions applicable to the BOM COVID-19 Support to Households Programme.

The Terms and Conditions to benefit from this programme are as follows: 

Two categories of customers adversely impacted by COVID-19 falling under the scope of this support programme have been identified as follows: 

Category 1:  Borrowers eligible under the BOM scheme 
 

 
Category 1C (Households)
Category 1D (Individuals)
Eligibility   

The combined monthly basic salary of the household (husband and wife jointly or single parent) should not exceed MUR 50,000* AND
Household adversely impacted by COVID-19 (e.g. loss of job, technical holiday, reduced salary).
The customer’s loan has been well serviced as at date in our books with no arrears.

The monthly basic salary of the individual should not exceed MUR 50,000* AND
Individual adversely impacted by COVID-19 (e.g. loss of job, technical holiday, reduced salary).
The customer’s loan has been well serviced as at date in our books with no arrears.
 

Moratorium

6 months on capital repayments as from the month in which complete request along with all required documents is submitted to the bank.  The Bank of Mauritius will also pay interest on the outstanding household loans for the period 1st of April 2020 to 30th of June 2020 (subject that the complete request along with supporting documents is submitted to the bank in the month of April). If complete request is submitted after April but before end of June, interest will be refunded from the month in which request is made up to 30th June.  This will not take into account any arrears on the capital repayments and interest accrued on household loan prior to the 1st of April 2020. 

6 months on both capital and interest repayments as from the month in which complete request along with all required documents is submitted to the bank.
 

Facilities concerned

All consumer loans disbursed in Mauritian Rupee excluding overdrafts, credit cards and leasing facilities. Consumer loans falling under the scope are thus: Home Loans, Boost Loans, Personal Loans, Achiever Loans and Eco Loans.

Required documents

The latest salary/pay slip.
Letter from employer indicating that the employee’s salary has been reduced or that the employee is otherwise impacted by COVID-19. 
Self-employed households will be required to provide documentary evidence to that effect. The bank will make its own assessment based on statement of accounts and income patterns. 
Important: Please note that the above-mentioned documents are mandatory to benefit from the interest relief. 

Category 2:  Other borrowers not meeting BOM scheme criteria but impacted by COVID-19

Eligibility: 
Household adversely impacted by COVID-19 (e.g. loss of job, technical holiday, reduced salary).
The customer’s loan has been well serviced as at date in our books with no arrears.
Moratorium Period: 
Not to exceed 6 months on capital repayment only, effective as from the month in which complete request along with all required documents is submitted to the bank 
Facilities concerned: 
All consumer loans disbursed in Mauritian Rupee excluding overdrafts and credit cards.  Consumer loans falling under the scope are thus: Home Loans, Boost Loans, Personal Loans, Achiever Loans, Eco Loans and Leases.
Required documents:
Latest payslip 
Letter from employer indicating that the employee’s salary has been reduced or that the employee is otherwise impacted by COVID-19 or any other evidence acceptable to the bank.
 
Note: For self-employed clients, household income eligibility will be determined based on existing criteria for assessing credit worthiness of customers; i.e.; salary, turnover or MRA return (if available).How to apply? 

Dear Valued Customers, 
In line with the Public Notice issued by the Bank of Mauritius on 20 April 2020 entitled “Measures to support Local Economic Operators, SMEs and Households in the COVID-19 Context and Modus Operandi for the disbursement of funds under the Support Programme (Special Relief Amount and Special Account)”, SBM Bank is pleased to present to you the Terms and Conditions applicable to the BOM COVID-19 Support to Households Programme.

The Terms and Conditions to benefit from this programme are as follows: 

Two categories of customers adversely impacted by COVID-19 falling under the scope of this support programme have been identified as follows: 

Category 1:  Borrowers eligible under the BOM scheme 
 

 
Category 1C (Households)
Category 1D (Individuals)
Eligibility   

The combined monthly basic salary of the household (husband and wife jointly or single parent) should not exceed MUR 50,000* AND
Household adversely impacted by COVID-19 (e.g. loss of job, technical holiday, reduced salary).
The customer’s loan has been well serviced as at date in our books with no arrears.

The monthly basic salary of the individual should not exceed MUR 50,000* AND
Individual adversely impacted by COVID-19 (e.g. loss of job, technical holiday, reduced salary).
The customer’s loan has been well serviced as at date in our books with no arrears.
 

Moratorium

6 months on capital repayments as from the month in which complete request along with all required documents is submitted to the bank.  The Bank of Mauritius will also pay interest on the outstanding household loans for the period 1st of April 2020 to 30th of June 2020 (subject that the complete request along with supporting documents is submitted to the bank in the month of April). If complete request is submitted after April but before end of June, interest will be refunded from the month in which request is made up to 30th June.  This will not take into account any arrears on the capital repayments and interest accrued on household loan prior to the 1st of April 2020. 

6 months on both capital and interest repayments as from the month in which complete request along with all required documents is submitted to the bank.
 

Facilities concerned

All consumer loans disbursed in Mauritian Rupee excluding overdrafts, credit cards and leasing facilities. Consumer loans falling under the scope are thus: Home Loans, Boost Loans, Personal Loans, Achiever Loans and Eco Loans.

Required documents

The latest salary/pay slip.
Letter from employer indicating that the employee’s salary has been reduced or that the employee is otherwise impacted by COVID-19. 
Self-employed households will be required to provide documentary evidence to that effect. The bank will make its own assessment based on statement of accounts and income patterns. 
Important: Please note that the above-mentioned documents are mandatory to benefit from the interest relief. 

Category 2:  Other borrowers not meeting BOM scheme criteria but impacted by COVID-19

Eligibility: 
Household adversely impacted by COVID-19 (e.g. loss of job, technical holiday, reduced salary).
The customer’s loan has been well serviced as at date in our books with no arrears.
Moratorium Period: 
Not to exceed 6 months on capital repayment only, effective as from the month in which complete request along with all required documents is submitted to the bank 
Facilities concerned: 
All consumer loans disbursed in Mauritian Rupee excluding overdrafts and credit cards.  Consumer loans falling under the scope are thus: Home Loans, Boost Loans, Personal Loans, Achiever Loans, Eco Loans and Leases.
Required documents:
Latest payslip 
Letter from employer indicating that the employee’s salary has been reduced or that the employee is otherwise impacted by COVID-19 or any other evidence acceptable to the bank.
 
Note: For self-employed clients, household income eligibility will be determined based on existing criteria for assessing credit worthiness of customers; i.e.; salary, turnover or MRA return (if available).How to apply?