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MauBank Ltd is running a three-month Leasing offer starting Thursday 1 August 2024, with a special rate of interest. The campaign will coincide with the ‘Salon de l’Automobile’, which will be held at SVICC from Friday 2nd August to Sunday 4th August 2024.

The offer is open to salaried individuals, self-employed, SMEs and Corporates.

Salaried customers can get instant approval by applying for their lease online at any time convenient to them, and from the comfort of their home at http://www.maubank.mu/leasing/

1.1 FOR ALL NEW AND RECON/SECOND-HAND VEHICLES (INCLUDING ELECTRIC & HYBRID VEHICLES)

Purpose of Lease

Financing of:

  • New vehicles
  • Reconditioned/second-hand vehicles (of less than 5 years)

Quantum of the Lease
  • New vehicles - Up to 100% financing of total cost (VAT inclusive).
  • Reconditioned / second-hand vehicles (of less than 5 years) – Up to 75% financing of total cost (VAT inclusive)

Period of lease
  • New vehicles - Up to 96 months (8 years)
  • Reconditioned /second hand (of less than 5 years) – Up to of 72 months (6 years) depending on the registration year of the vehicle

Interest Rate
  • Fixed Rate of Interest of 5.50% for the first 24 months
  • Fixed Rate of Interest of 7.50% for the remaining period.

Note that APR is 6.25% over 5 years, 6.55% over 7 years and 6.66% over 8 years.

1.2 FOR NEW EQUIPMENT

Purpose of Lease

Financing of new equipment

Quantum of the Lease

Up to 85% financing of total cost (Ex-VAT).

Period of lease

Up to 84 months, depending on asset type

Interest Rate
  • Fixed Rate of Interest of 5.50% p.a. for the first 24 months
  • Fixed Rate of Interest of 7.50% for the remaining period.

Note that APR is 6.25% over 5 years, 6.55% over 7 years and 6.66% over 8 years

Other conditions
  • One-stop shop offers preferential insurance offers with our dedicated insurance partners.
  • 25% Insurance premium payable upfront and the remaining period payable in 3 instalments over 3 months.
  • Insurance handling fee of MUR500/not applicable.

 

2. OTHER CONDITIONS

  • Zero processing Fees during the campaign period.
  • After receiving the online in-principle approval, applicants will be required to submit original documents by visiting any Business Centre of MauBank for validation of their lease approval.
  • One-stop shop offers with preferential insurance offer with our accredited insurance partners.
  • Up to 20% discount on Insurance premium fees.
  • No insurance handling fee.
  • 25% Insurance premium payable upfront and the remaining period payable in 3 instalments over 3 months.

3. VALIDITY

  • The Leasing Campaign will start on 1st August 2024 and will end on 31st October 2024.
  • It will be applicable on all new vehicles to be delivered until 31st January 2025.
  • Reconditioned vehicles are to be delivered by 31st Oct 2024

4. ELIGIBILITY CRITERIA

  • The applicant should have a minimum age of 18 years and a maximum of 65 years.
  • The applicant should be a Mauritian citizen, or a non-Mauritian citizen, holder of a resident permit.
  • The applicant's total repayment should satisfy the bank's internal credit assessment criteria

5. DOCUMENTS REQUIRED TO APPLY ONLINE

  • National Identity Card or Valid Passport.
  • Birth Certificate
  • Marriage Certificate (if applicable).
  • Proof of Address of less than 3 months (CEB, CWA, Fixed Line MT Bill).
  • Bank Statements – Last 6 months.
  • Salary Slip – Last 3 months.
  • Vehicle Quotation or Invoice


The Bank reserves the right to terminate the campaign at any moment at its own discretion, without the need to provide any clarification and shall not be liable for the early termination of the Campaign.