A mortgage in Mauritius depends on the interest rate, but above all on the application.
In 2026, the market remains very clear for a future resident: the Key Rate of the Bank of Mauritius is at 4,75 % Since May 20, 2026, several banks have been displaying variable offers indexed to their PLR (Loan Rates), and the residency threshold linked to certain real estate purchases remains fixed at USD 375,000, that is approximately Rs 17.48 million to Rs 18.00 million according to the indicative rate of July 22, 2026. (bom.mu)
If your project combines purchase, installation, and asset management, the real question is not just “how much can I borrow?”, but also “which property is eligible, which bank will accept my profile, and what will be the total cost of my financing?”.mcb.mu)
Key interest rate benchmarks to know in 2026
In Mauritius, at least three things need to be compared: the nominal rate, L'’APR and the additional costs. The APR is particularly useful because it incorporates the overall cost of credit instead of just the advertised rate. Several Mauritian banks also publish their rate schedules and remind customers that offers may vary depending on the borrower's profile, segment, and current conditions.mcb.mu)
Indicative comparison of banks and institutions in 2026
| Bank / organization | Rate or benchmark displayed | Duration / funding | Things to remember for an expat |
|---|---|---|---|
| MCB Select Home Loan | Starting from 5.24 % variable, with variation linked to the Key Repo Rate. | Up to 30 years and up to 100 % of financing. | An interesting offer if you are looking for long-term financing and accept a variable payment plan. |
| SBM Home Loan | Rates starting from 5.10 % per annum; APR example at 5.30 % on a loan of Rs 5 million over 20 years. | Up to 35 years, up to 100 % depending on eligibility, moratorium of up to 2 years. | A good reference point if you want a clear understanding of the total cost of credit.banking.sbmgroup.mu) |
| Bank of Baroda Mortgage Loan | 2.00 % above the PLR. | Up to 120 monthly installments, maximum amount of Rs 5 million, guarantee up to 50 % of the value of the property. | Useful for understanding pricing indexed to the PLR and security requirements. (bankofbaroda-mu.com) |
| MauBank Home Loan | Online estimator at 6 % fixed; the sales page focuses mainly on access conditions. | Up to 35 years old, up to 100 % for first-time buyers, moratorium of up to 12 months. | Practical if your case is strong and you're looking for a comfortable duration.maubank.mu) |
On the rate pages consulted, the PLR range from approximately 6,90 % at MCB 8,20 % at Bank One, with 7,10 % at SBM and 7,65 % at BCP. This shows that the market remains volatile and that the right approach is to compare the spread, APR and fees rather than just the top-of-the-line figure.mcb.mu)
The key takeaway is simple: an offer at 5.10 % or 5.24 % may seem very competitive, but it isn't necessarily the best deal if the fees, insurance, or early repayment terms are less favorable. Mauritian banks and credit institutions often detail these items in their fee schedules.
What conditions must be met?
Repayment capacity remains key. Mauritius Housing Company reminds us that the loan amount depends in particular on income, age, co-borrower, repayment period, and existing obligations. In other words, two seemingly similar applications can receive very different responses depending on disposable income and income stability.mhc.mu)
- Your banking status matters. MCB indicates that foreign clients may be eligible for secured loans, including housing loans, while MauBank primarily targets Mauritian citizens and permanent residents.
- Your ability to repay must be documented. Banks generally require proof of income, bank statements, and documents related to the property.
- The file must be secured. The more a loan is secured against a clearly defined asset, traceable income, and complete documentation, the more transparent the processing becomes. (bankofbaroda-mu.com)
- The type of property changes everything. Certain acquisitions are open to non-citizens only within specific frameworks, with prior approval from the EDB.edbmauritius.org)
To prepare a clean file, you can rely on Practical guides for expatriation to Mauritius to structure your approach before going to the bank. This helps you arrive with a realistic budget, consistent documentation, and a clearer purchase timeline.
Buying a property eligible for residency: the key point for expatriates
If your goal is also to obtain a residence permit through real estate, the benchmark remains the threshold of USD 375,000 for IRS, RES and PDS schemes. The EDB specifies that this permit can be granted to the non-citizen, as well as to his spouse and dependent children under 24 years of age, as long as he retains the property.
There are also more accessible purchasing options: the EDB points out that non-citizens can acquire apartments in buildings with at least two stories above ground, subject to approval and starting from a minimum price of Rs 6 million. This is a crucial point for a prospective resident who wants to weigh budget, location, and the prospect of a stay.
At the indicative exchange rate of July 22, 2026, the threshold of USD 375,000 represents approximately Rs 17.48 million to Rs 18.00 million, depending on the nature of the transaction and the rate applied by the bank. This is a useful estimate for reasoning in Mauritian rupees, but it must always be recalculated at the time of signing.bom.mu)
When you verify the operator's identity, the legal notices The site's resources are available online. It's a simple reflex, especially before exchanging sensitive documents or launching a structured real estate project.
What the rate doesn't show: fees, insurance and taxes
The true cost of a loan is never limited to the nominal interest rate. The fee schedules from MHC, MauBank, MCB, and SBM show that you must also factor in application, processing, evaluation, legal document, registration, insurance, and, depending on the circumstances, early repayment fees. A good comparison therefore involves considering all aspects of the cost. total cost over time, not just in terms of the initial monthly payment.mhc.mu)
The Mauritian tax environment remains attractive for an expatriate, with a VAT at 15% % and a PAYE system that frequently applies 15 % Or 20 % depending on the taxpayer's income level and situation. For an investor, the real question is therefore the remaining income after taxes, Insurance, condominium fees, and property maintenance.govmu.org)
General information only: this content does not constitute personalized tax, legal or banking advice.
How to build a strong case in 2026
- First, choose the right purchasing framework. If you also want a residence permit, confirm the property's eligibility before discussing financing.
- Prepare your proof of income. Mauritian banks often request payslips, bank statements, proof of address and identity documents.
- Check your debt capacity. MHC specifies that age, income and existing commitments are taken into account in the analysis.
- Compare the APR and the fees. A good nominal rate may be offset by higher fees or less flexible terms.
- Keep a safety margin. Offers at 100 % exist on some commercial pages, but they remain subject to eligibility and profile.
Frequently Asked Questions about Mortgages in Mauritius
Can foreign buyers obtain a mortgage in Mauritius and under what conditions?
Yes, but not under just any conditions. MCB indicates that foreign clients may be eligible for guaranteed loans, including housing loans, while MauBank primarily targets Mauritian citizens and permanent residents. In practice, the bank mainly considers the strength of the application, the repayment capacity, and the nature of the property. If you are also buying to obtain residency, the IRS, RES, and PDS schemes with a threshold of USD 375,000 remain the standard.
Mortgage loans in Mauritius for expatriates: is it feasible and which banks should be favored?
Yes, it's possible, but you should prioritize banks that clearly publish their terms and conditions and accept secure applications. MCB advertises housing loans accessible to overseas customers on guaranteed loans, SBM indicates an offer available to both clients and non-clients with up to 100 % of financing depending on eligibility, and Bank of Baroda structures its mortgage loan at 2 % above the PLR. For an expatriate, the most important criterion remains the clarity of the application, not just the marketing presentation.
What are the characteristics of the Home Loan (IV) Scheme in Mauritius?
The MHC Home Loan (IV) Scheme finances the purchase of residential land, a house, an apartment, or a bungalow, as well as construction, extensions, renovations, loft conversions, and even the repayment of certain housing debts incurred elsewhere. MHC also indicates a rate of 5,3 % fluctuating with the key interest rate and a repayment period of up to 25 years old. However, the ability to repay remains a determining factor in the final agreement.mhc.mu)
What documents are required to obtain a mortgage in Mauritius in 2026?
The required documents vary depending on the bank, but they are very often a passport or identity card, recent proof of address, payslips, bank statements, and property-related documents such as a title deed, a preliminary sales agreement, a building permit, or site plans. MauBank provides a list very similar to this standard, and SBM also requests proof of address, bank statements, and payslips. It's therefore best to prepare a complete file before requesting a quote.
Which banks in Mauritius offer mortgage loans to foreigners and expatriates in 2026?
The answers vary from bank to bank. MCB accepts overseas customers for guaranteed loans, SBM offers a general public mortgage program with rates starting at 5.10%, Bank of Baroda publishes a mortgage loan at 2% above the PLR, and MauBank remains more focused on Mauritian citizens and permanent residents. The best choice therefore depends on your status, your down payment, the property you are interested in, and the level of flexibility you require over the loan term.
And now ?
If you are planning a purchase in Mauritius, start by confirming your budget, the type of property, and the overall impact of the financing on your assets. For an initial assessment, the Expat Mauritius homepage This allows you to start from a clear foundation, with a free assessment and support tailored to your expatriation and investment needs. You can then move forward with greater peace of mind, with a coherent application and pre-defined banking criteria.
