BRN: C10000071 LOAN INFORMATION SHEET MUTUAL AID …

1 1 of 4 MQL / loan INFORMATION SHEET - MUTUAL AID quick loan (MQL) You are kindly requested to read the following instructions before completing your loan application. DOCUMENTS TO BE PRODUCED The following documents should be submitted: (a) Original & photocopy of your recent payslip/pension slip (not more than two months). (b) Original & photocopy of NIC card and Birth Certificate of applicant. (c) Original & photocopy of bank document showing account number and name of applicant. (d) Original & photocopy of bank statement showing name and address / Utility Bill (CEB or CWA or Mauritius Telecom) - not more than 3 months. (If utility bill is not in name of applicant, a written confirmation and copy of NIC should be secured from the utility bill account holder) or any other document showing relation.

2 (e) Certificate from your department stating that you are not under report, not on leave without pay and not involved in a police case. (Valid for 15 days). (f) Completed Emailing of Statement of Accounts and the Borrowers Declaration Forms. (g) loan Deduction Authority Form (LDAF) by loanee. (h) loan offset form / letter of undertaking (where applicable). (i) Documentary evidence for home loan purpose. (j) loan applications from existing members having low disposable net pay to be processed subject to an undertaking in the loanee s own handwriting being provided to the effect that he/she has sufficient financial means to repay the loan . For Pensioner: An undertaking in own handwriting to be provided by the applicant regarding disclosure of other income and repayment capacity.

3 : Save Time by avoiding the peak period from 27th to 3rd of the next month and peak hours from hrs to hrs. ELIGIBILITY Members of the following institutions are eligible for quick loan subject to a limit of Rs300,000 payable over 10 years: Private Secondary Schools Authority (salary below Rs30,000 per month), Small Planters Welfare Fund, Trade Union Trust Fund, Mauritius Family Planning Welfare Association, Mauritius Duty Free Paradise, National Institute for Cooperative Entrepreneurship and all organisations which apply 50% deduction on salary. The ceiling for medical doctors is capped at Rs500,000. Members of the following institutions are not eligible for quick Loans:Cargo Handling Corporation Ltd, Casino de Maurice, National Transport Corporation and Airmate Ltd (under NRB conditions of service), Ministry of Health & Quality of Life (Nurses and Health Care Assistants), DOHA Secondary School, OIDC and Call Services.

4 New members are requested to apply for Personal loan first. No MUTUAL Aid quick loan will be granted to new members and those over 55 years old. See Appendixes I and II for caps concerning other departments. loan AMOUNT AND CONDITIONS The maximum exposure of total unsecured loans at the MUTUAL Aid shall not exceed Rs750,000 for those having 15 years of service or less. For those having greater than 15 years of service, an MQL limit of could be considered on a case to case basis, subject to prior approval of CEO / DCEO (except as mentioned in above) and subject to repayment capacity Please refer to the loan table overleaf for details of eligibility.

5 There should be no arrears in loan repayment and quick loan will not be provided to those who are under report. The Association reserves the right to make amendments to any of its loan policies and/or procedures at any point in time. The Association furthermore reserves the right to apply such amendments to loans already approved and granted. The actual loan amount is based on eligibility and is not necessarily the same as the amount applied for. The minimum loan application amount should not be less than Rs15,000. The disbursement amount should not be less than Rs5,000. Application should be submitted by loanee in person. BRN: C10000071 THE MAURITIUS CIVIL SERVICE MUTUAL AID ASSOCIATION LTD 5, Guy Rozemont Square, Port Louis Tel 6060 Hotline : 212 4000 Fax No.

6 :211 2441 2 of 4 loan PERIOD Loans can be refunded in a maximum period of 192 months depending on the age of the applicant. Note: About two months moratorium will be provided on loan repayment, thus the first deduction will be made by end of the 2nd month. Consequently, the loan period will be extended accordingly. In no case shall the total MUTUAL Aid deduction exceed 50% of the monthly eligible income / 40% of total monthly income of pensioners. For new members who joined as from January 2017, total deduction shall not exceed 50% of monthly salary, excluding travelling and travel grant. However, this is not applicable to institutions where there is 50% restriction on salary deduction.

7 NOTES: The applicant must sign at part 2 of the application form and should write in his/her own handwriting in the space provided at section of the application form the following : read and approved: good for the sum of Rupees .. For all new loans, the following deductions will be made : (1) The MUTUAL solidarity contribution for the loan (Note : The solidarity contribution on loan is non-refundable and is payable to offset the loan in case of death); (2) The processing fee. Renewal of loans can be made after 6 months EMI (Equated Monthly Instalment) have been refunded. However, if maximum eligible deduction has not been reached, the renewal can be done (at the earliest) the next month.

8 The Association reserves the right not to approve a loan application in case of default of payment on any existing loans contracted by a loanee. A waiting period of 6 months is mandatory for the grant of a quick loan after the loanee has been granted a Personal loan . In case of default of payment on the part of a loanee, the total outstanding loan balance will be recovered by judicial process. Shareholders may download copies of the application form from the Web Site of the Association at the address: The Association reserves the right to reject a loan application after assessing his/her risk profile of the Applicant and to keep in abeyance the loan application of an applicant who is in litigation with the Association until the final outcome of the case.

9 There should not be any overwriting or use of correction fluid on the application form. All photocopies must be clear; all signatures affixed must be identical to that on the National Identity Card of bearer. Shareholders are informed that it is mandatory for the Association to make necessary enquiry from the Mauritius Credit INFORMATION Bureau (MCIB) before approving, increasing or renewing any loan facilities and to provide the MCIB with relevant INFORMATION regarding the present loan . According to Section 52A of the Bank of Mauritius Act, it is mandatory that the Know Your Customer (KYC) records of our members be submitted to the KYC Registry of the Bank of Mauritius.

10 In case a loanee is proceeding on any overseas leave, he/she shall communicate in writing to the Association his/her overseas address, prior to leaving the country. Non-submission of such INFORMATION would be a breach of the loan contract. In case Applicant is abroad and the Standing Order Instruction has failed, the matter will be treated as a case of defrauding the Association of its property. The Association will proceed with legal action against the Applicant via the Central Criminal Investigation Department and Interpol. The Association will also inform the Applicant s employer or institution of the above matter with the assistance of Mauritius Embassies and High Commissions in different countries.