{"id":13043,"date":"2022-08-19T11:00:28","date_gmt":"2022-08-19T11:00:28","guid":{"rendered":"https:\/\/www.megaserverstore.com\/mcsmutualaid\/?page_id=13043"},"modified":"2025-04-09T10:09:03","modified_gmt":"2025-04-09T10:09:03","slug":"mql-loan","status":"publish","type":"page","link":"https:\/\/www.megaserverstore.com\/mcsmutualaid\/mql-loan\/","title":{"rendered":"MQL Loan"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"13043\" class=\"elementor elementor-13043\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-top-section elementor-element elementor-element-8262448 elementor-section-stretched elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"8262448\" data-element_type=\"section\" data-e-type=\"section\" data-settings=\"{&quot;stretch_section&quot;:&quot;section-stretched&quot;,&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-top-column elementor-element elementor-element-5fa1250\" data-id=\"5fa1250\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<section class=\"elementor-section elementor-inner-section elementor-element elementor-element-f77fece elementor-section-boxed elementor-section-height-default elementor-section-height-default\" data-id=\"f77fece\" data-element_type=\"section\" data-e-type=\"section\">\n\t\t\t\t\t\t<div class=\"elementor-container elementor-column-gap-default\">\n\t\t\t\t\t<div class=\"elementor-column elementor-col-100 elementor-inner-column elementor-element elementor-element-8c61722\" data-id=\"8c61722\" data-element_type=\"column\" data-e-type=\"column\">\n\t\t\t<div class=\"elementor-widget-wrap elementor-element-populated\">\n\t\t\t\t\t\t<div class=\"elementor-element elementor-element-198b12e elementor-widget elementor-widget-tf-heading-section\" data-id=\"198b12e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"tf-heading-section.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div id=\"tf-heading-section-198b12e\" class=\"tf-heading-section style2\" data-tabid=\"198b12e\"> \r\n\t\t\t\t\r\n\t\t\t<div class=\"heading-section\">\r\n\t\t\t\t<div class=\"before-title\">Know more about:<\/div>\r\n\t\t\t\t\r\n\t\t\t<\/div>                \r\n            <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9c88077 elementor-widget-mobile__width-initial elementor-widget elementor-widget-tf-heading-section\" data-id=\"9c88077\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"tf-heading-section.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div id=\"tf-heading-section-9c88077\" class=\"tf-heading-section style2\" data-tabid=\"9c88077\"> \r\n\t\t\t\t\r\n\t\t\t<div class=\"heading-section\">\r\n\t\t\t\t<div class=\"before-title\">MQL Loan<\/div>\r\n\t\t\t\t\r\n\t\t\t<\/div>\r\n\t\t\t\t<div class=\"sub-title\"><p style=\"text-align: justify;\"><em><strong>Take the path of fast forward to realize your dreams!<\/strong><\/em><\/p><p style=\"text-align: justify;\">Mutual Aid Quick Loan is the quickest path to realizing your dreams. You can borrow up to Rs 7,000,000 without having to provide any security. With a speedy loan approval process, disbursement is made possible on the same day.\u00a0 (Terms &amp; conditions applies)<\/p><\/div>\r\n\t\t\t                \r\n            <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-383465e elementor-widget-mobile__width-initial elementor-widget elementor-widget-tfaccordion\" data-id=\"383465e\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"tfaccordion.default\">\n\t\t\t\t<div class=\"elementor-widget-container\">\n\t\t\t\t\t<div class=\"tf-accordion\"> \r\n\t\t\t\t<div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Loan Table<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><p style=\"text-align: justify;\"><strong>Based on Interest Rate of 10.50% p.a and maximum repayment period of 240 months<\/strong><\/p><p style=\"text-align: justify;\">\n<table id=\"tablepress-8\" class=\"tablepress tablepress-id-8\">\n<thead>\n<tr class=\"row-1\">\n\t<th class=\"column-1\">LOAN AMOUNT<br \/>\nRs<\/th><th class=\"column-2\">MINIMUM SALARY PER MONTH<br \/>\nRs<\/th><th class=\"column-3\">MONTHLY INSTALMENT - 240 MONTHS<br \/>\nRs<\/th>\n<\/tr>\n<\/thead>\n<tbody class=\"row-striping row-hover\">\n<tr class=\"row-2\">\n\t<td class=\"column-1\">50,000<\/td><td class=\"column-2\">908<\/td><td class=\"column-3\">499<\/td>\n<\/tr>\n<tr class=\"row-3\">\n\t<td class=\"column-1\">100,000<\/td><td class=\"column-2\">1,815<\/td><td class=\"column-3\">998<\/td>\n<\/tr>\n<tr class=\"row-4\">\n\t<td class=\"column-1\">150,000<\/td><td class=\"column-2\">2,723<\/td><td class=\"column-3\">1,498<\/td>\n<\/tr>\n<tr class=\"row-5\">\n\t<td class=\"column-1\">200,000<\/td><td class=\"column-2\">3,630<\/td><td class=\"column-3\">1,997<\/td>\n<\/tr>\n<tr class=\"row-6\">\n\t<td class=\"column-1\">250,000<\/td><td class=\"column-2\">4,538<\/td><td class=\"column-3\">2,496<\/td>\n<\/tr>\n<tr class=\"row-7\">\n\t<td class=\"column-1\">300,000<\/td><td class=\"column-2\">5,446<\/td><td class=\"column-3\">2,995<\/td>\n<\/tr>\n<tr class=\"row-8\">\n\t<td class=\"column-1\">350,000<\/td><td class=\"column-2\">6,353<\/td><td class=\"column-3\">3,494<\/td>\n<\/tr>\n<tr class=\"row-9\">\n\t<td class=\"column-1\">400,000<\/td><td class=\"column-2\">7,261<\/td><td class=\"column-3\">3,994<\/td>\n<\/tr>\n<tr class=\"row-10\">\n\t<td class=\"column-1\">450,000<\/td><td class=\"column-2\">8,169<\/td><td class=\"column-3\">4,493<\/td>\n<\/tr>\n<tr class=\"row-11\">\n\t<td class=\"column-1\">500,000<\/td><td class=\"column-2\">9,076<\/td><td class=\"column-3\">4,992<\/td>\n<\/tr>\n<tr class=\"row-12\">\n\t<td class=\"column-1\">550,000<\/td><td class=\"column-2\">9,984<\/td><td class=\"column-3\">5,491<\/td>\n<\/tr>\n<tr class=\"row-13\">\n\t<td class=\"column-1\">600,000<\/td><td class=\"column-2\">10,891<\/td><td class=\"column-3\">5,990<\/td>\n<\/tr>\n<tr class=\"row-14\">\n\t<td class=\"column-1\">650,000<\/td><td class=\"column-2\">11,799<\/td><td class=\"column-3\">6,489<\/td>\n<\/tr>\n<tr class=\"row-15\">\n\t<td class=\"column-1\">700,000<\/td><td class=\"column-2\">12,707<\/td><td class=\"column-3\">6,989<\/td>\n<\/tr>\n<tr class=\"row-16\">\n\t<td class=\"column-1\">750,000<\/td><td class=\"column-2\">13,614<\/td><td class=\"column-3\">7,488<\/td>\n<\/tr>\n<tr class=\"row-17\">\n\t<td class=\"column-1\">800,000<\/td><td class=\"column-2\">14,522<\/td><td class=\"column-3\">7,987<\/td>\n<\/tr>\n<tr class=\"row-18\">\n\t<td class=\"column-1\">850,000<\/td><td class=\"column-2\">15,430<\/td><td class=\"column-3\">8,486<\/td>\n<\/tr>\n<tr class=\"row-19\">\n\t<td class=\"column-1\">900,000<\/td><td class=\"column-2\">16,337<\/td><td class=\"column-3\">8,985<\/td>\n<\/tr>\n<tr class=\"row-20\">\n\t<td class=\"column-1\">950,000<\/td><td class=\"column-2\">17,245<\/td><td class=\"column-3\">9,485<\/td>\n<\/tr>\n<tr class=\"row-21\">\n\t<td class=\"column-1\">1,000,000<\/td><td class=\"column-2\">18,152<\/td><td class=\"column-3\">9,984<\/td>\n<\/tr>\n<tr class=\"row-22\">\n\t<td class=\"column-1\">1,050,000<\/td><td class=\"column-2\">19,060<\/td><td class=\"column-3\">10,483<\/td>\n<\/tr>\n<tr class=\"row-23\">\n\t<td class=\"column-1\">1,100,000<\/td><td class=\"column-2\">19,968<\/td><td class=\"column-3\">10,982<\/td>\n<\/tr>\n<tr class=\"row-24\">\n\t<td class=\"column-1\">1,150,000<\/td><td class=\"column-2\">20,875<\/td><td class=\"column-3\">11,481<\/td>\n<\/tr>\n<tr class=\"row-25\">\n\t<td class=\"column-1\">1,200,000<\/td><td class=\"column-2\">21,783<\/td><td class=\"column-3\">11,981<\/td>\n<\/tr>\n<tr class=\"row-26\">\n\t<td class=\"column-1\">1,250,000<\/td><td class=\"column-2\">22,690<\/td><td class=\"column-3\">12,480<\/td>\n<\/tr>\n<tr class=\"row-27\">\n\t<td class=\"column-1\">1,300,000<\/td><td class=\"column-2\">23,598<\/td><td class=\"column-3\">12,979<\/td>\n<\/tr>\n<tr class=\"row-28\">\n\t<td class=\"column-1\">1,350,000<\/td><td class=\"column-2\">24,506<\/td><td class=\"column-3\">13,478<\/td>\n<\/tr>\n<tr class=\"row-29\">\n\t<td class=\"column-1\">1,400,000<\/td><td class=\"column-2\">25,413<\/td><td class=\"column-3\">13,977<\/td>\n<\/tr>\n<tr class=\"row-30\">\n\t<td class=\"column-1\">1,450,000<\/td><td class=\"column-2\">26,321<\/td><td class=\"column-3\">14,477<\/td>\n<\/tr>\n<tr class=\"row-31\">\n\t<td class=\"column-1\">1,500,000<\/td><td class=\"column-2\">27,229<\/td><td class=\"column-3\">14,976<\/td>\n<\/tr>\n<tr class=\"row-32\">\n\t<td class=\"column-1\">1,550,000<\/td><td class=\"column-2\">28,136<\/td><td class=\"column-3\">15,475<\/td>\n<\/tr>\n<tr class=\"row-33\">\n\t<td class=\"column-1\">1,600,000<\/td><td class=\"column-2\">29,044<\/td><td class=\"column-3\">15,974<\/td>\n<\/tr>\n<tr class=\"row-34\">\n\t<td class=\"column-1\">1,650,000<\/td><td class=\"column-2\">29,951<\/td><td class=\"column-3\">16,473<\/td>\n<\/tr>\n<tr class=\"row-35\">\n\t<td class=\"column-1\">1,700,000<\/td><td class=\"column-2\">30,859<\/td><td class=\"column-3\">16,972<\/td>\n<\/tr>\n<tr class=\"row-36\">\n\t<td class=\"column-1\">1,750,000<\/td><td class=\"column-2\">31,767<\/td><td class=\"column-3\">17,472<\/td>\n<\/tr>\n<tr class=\"row-37\">\n\t<td class=\"column-1\">1,800,000<\/td><td class=\"column-2\">32,674<\/td><td class=\"column-3\">17,971<\/td>\n<\/tr>\n<tr class=\"row-38\">\n\t<td class=\"column-1\">1,850,000<\/td><td class=\"column-2\">33,582<\/td><td class=\"column-3\">18,470<\/td>\n<\/tr>\n<tr class=\"row-39\">\n\t<td class=\"column-1\">1,900,000<\/td><td class=\"column-2\">34,489<\/td><td class=\"column-3\">18,969<\/td>\n<\/tr>\n<tr class=\"row-40\">\n\t<td class=\"column-1\">1,950,000<\/td><td class=\"column-2\">35,397<\/td><td class=\"column-3\">19,468<\/td>\n<\/tr>\n<tr class=\"row-41\">\n\t<td class=\"column-1\">2,000,000<\/td><td class=\"column-2\">36,305<\/td><td class=\"column-3\">19,968<\/td>\n<\/tr>\n<tr class=\"row-42\">\n\t<td class=\"column-1\">2,050,000<\/td><td class=\"column-2\">37,212<\/td><td class=\"column-3\">20,467<\/td>\n<\/tr>\n<tr class=\"row-43\">\n\t<td class=\"column-1\">2,100,000<\/td><td class=\"column-2\">38,120<\/td><td class=\"column-3\">20,966<\/td>\n<\/tr>\n<tr class=\"row-44\">\n\t<td class=\"column-1\">2,150,000<\/td><td class=\"column-2\">39,028<\/td><td class=\"column-3\">21,465<\/td>\n<\/tr>\n<tr class=\"row-45\">\n\t<td class=\"column-1\">2,200,000<\/td><td class=\"column-2\">39,935<\/td><td class=\"column-3\">21,964<\/td>\n<\/tr>\n<tr class=\"row-46\">\n\t<td class=\"column-1\">2,250,000<\/td><td class=\"column-2\">40,843<\/td><td class=\"column-3\">22,464<\/td>\n<\/tr>\n<tr class=\"row-47\">\n\t<td class=\"column-1\">2,300,000<\/td><td class=\"column-2\">41,750<\/td><td class=\"column-3\">22,963<\/td>\n<\/tr>\n<tr class=\"row-48\">\n\t<td class=\"column-1\">2,350,000<\/td><td class=\"column-2\">42,658<\/td><td class=\"column-3\">23,462<\/td>\n<\/tr>\n<tr class=\"row-49\">\n\t<td class=\"column-1\">2,400,000<\/td><td class=\"column-2\">43,566<\/td><td class=\"column-3\">23,961<\/td>\n<\/tr>\n<tr class=\"row-50\">\n\t<td class=\"column-1\">2,450,000<\/td><td class=\"column-2\">44,473<\/td><td class=\"column-3\">24,460<\/td>\n<\/tr>\n<tr class=\"row-51\">\n\t<td class=\"column-1\">2,500,000<\/td><td class=\"column-2\">45,381<\/td><td class=\"column-3\">24,959<\/td>\n<\/tr>\n<tr class=\"row-52\">\n\t<td class=\"column-1\">2,550,000<\/td><td class=\"column-2\">46,289<\/td><td class=\"column-3\">25,459<\/td>\n<\/tr>\n<tr class=\"row-53\">\n\t<td class=\"column-1\">2,600,000<\/td><td class=\"column-2\">47,196<\/td><td class=\"column-3\">25,958<\/td>\n<\/tr>\n<tr class=\"row-54\">\n\t<td class=\"column-1\">2,650,000<\/td><td class=\"column-2\">48,104<\/td><td class=\"column-3\">26,457<\/td>\n<\/tr>\n<tr class=\"row-55\">\n\t<td class=\"column-1\">2,700,000<\/td><td class=\"column-2\">49,011<\/td><td class=\"column-3\">26,956<\/td>\n<\/tr>\n<tr class=\"row-56\">\n\t<td class=\"column-1\">2,750,000<\/td><td class=\"column-2\">49,919<\/td><td class=\"column-3\">27,455<\/td>\n<\/tr>\n<tr class=\"row-57\">\n\t<td class=\"column-1\">2,800,000<\/td><td class=\"column-2\">50,827<\/td><td class=\"column-3\">27,955<\/td>\n<\/tr>\n<tr class=\"row-58\">\n\t<td class=\"column-1\">2,850,000<\/td><td class=\"column-2\">51,734<\/td><td class=\"column-3\">28,454<\/td>\n<\/tr>\n<tr class=\"row-59\">\n\t<td class=\"column-1\">2,900,000<\/td><td class=\"column-2\">52,642<\/td><td class=\"column-3\">28,953<\/td>\n<\/tr>\n<tr class=\"row-60\">\n\t<td class=\"column-1\">2,950,000<\/td><td class=\"column-2\">53,549<\/td><td class=\"column-3\">29,452<\/td>\n<\/tr>\n<tr class=\"row-61\">\n\t<td class=\"column-1\">3,000,000<\/td><td class=\"column-2\">54,457<\/td><td class=\"column-3\">29,951<\/td>\n<\/tr>\n<tr class=\"row-62\">\n\t<td class=\"column-1\">3,050,000<\/td><td class=\"column-2\">55,365<\/td><td class=\"column-3\">30,451<\/td>\n<\/tr>\n<tr class=\"row-63\">\n\t<td class=\"column-1\">3,100,000<\/td><td class=\"column-2\">56,272<\/td><td class=\"column-3\">30,950<\/td>\n<\/tr>\n<tr class=\"row-64\">\n\t<td class=\"column-1\">3,150,000<\/td><td class=\"column-2\">57,180<\/td><td class=\"column-3\">31,449<\/td>\n<\/tr>\n<tr class=\"row-65\">\n\t<td class=\"column-1\">3,200,000<\/td><td class=\"column-2\">58,088<\/td><td class=\"column-3\">31,948<\/td>\n<\/tr>\n<tr class=\"row-66\">\n\t<td class=\"column-1\">3,250,000<\/td><td class=\"column-2\">58,995<\/td><td class=\"column-3\">32,447<\/td>\n<\/tr>\n<tr class=\"row-67\">\n\t<td class=\"column-1\">3,300,000<\/td><td class=\"column-2\">59,903<\/td><td class=\"column-3\">32,947<\/td>\n<\/tr>\n<tr class=\"row-68\">\n\t<td class=\"column-1\">3,350,000<\/td><td class=\"column-2\">60,810<\/td><td class=\"column-3\">33,446<\/td>\n<\/tr>\n<tr class=\"row-69\">\n\t<td class=\"column-1\">3,400,000<\/td><td class=\"column-2\">61,718<\/td><td class=\"column-3\">33,945<\/td>\n<\/tr>\n<tr class=\"row-70\">\n\t<td class=\"column-1\">3,450,000<\/td><td class=\"column-2\">62,626<\/td><td class=\"column-3\">34,444<\/td>\n<\/tr>\n<tr class=\"row-71\">\n\t<td class=\"column-1\">3,500,000<\/td><td class=\"column-2\">63,533<\/td><td class=\"column-3\">34,943<\/td>\n<\/tr>\n<tr class=\"row-72\">\n\t<td class=\"column-1\">3,550,000<\/td><td class=\"column-2\">64,441<\/td><td class=\"column-3\">35,442<\/td>\n<\/tr>\n<tr class=\"row-73\">\n\t<td class=\"column-1\">3,600,000<\/td><td class=\"column-2\">65,349<\/td><td class=\"column-3\">35,942<\/td>\n<\/tr>\n<tr class=\"row-74\">\n\t<td class=\"column-1\">3,650,000<\/td><td class=\"column-2\">66,256<\/td><td class=\"column-3\">36,441<\/td>\n<\/tr>\n<tr class=\"row-75\">\n\t<td class=\"column-1\">3,700,000<\/td><td class=\"column-2\">67,164<\/td><td class=\"column-3\">36,940<\/td>\n<\/tr>\n<tr class=\"row-76\">\n\t<td class=\"column-1\">3,750,000<\/td><td class=\"column-2\">68,071<\/td><td class=\"column-3\">37,439<\/td>\n<\/tr>\n<tr class=\"row-77\">\n\t<td class=\"column-1\">3,800,000<\/td><td class=\"column-2\">68,979<\/td><td class=\"column-3\">37,938<\/td>\n<\/tr>\n<tr class=\"row-78\">\n\t<td class=\"column-1\">3,850,000<\/td><td class=\"column-2\">69,887<\/td><td class=\"column-3\">38,438<\/td>\n<\/tr>\n<tr class=\"row-79\">\n\t<td class=\"column-1\">3,900,000<\/td><td class=\"column-2\">70,794<\/td><td class=\"column-3\">38,937<\/td>\n<\/tr>\n<tr class=\"row-80\">\n\t<td class=\"column-1\">3,950,000<\/td><td class=\"column-2\">71,702<\/td><td class=\"column-3\">39,436<\/td>\n<\/tr>\n<tr class=\"row-81\">\n\t<td class=\"column-1\">4,000,000<\/td><td class=\"column-2\">72,609<\/td><td class=\"column-3\">39,935<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<!-- #tablepress-8 from cache --><\/p><p style=\"text-align: justify;\">The above figures have been rounded off to the nearest rupee and actual figures may differ slightly.<\/p><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Loan Amount<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><ul><li><p style=\"text-align: justify;\">The maximum exposure of total unsecured loans at the Mutual Aid shall not exceed Rs 7,000,000 subject to repayment capacity.<\/p><\/li><li style=\"text-align: justify;\">For members paid by PSEA (salary below Rs 50,000 monthly) the loan limit is Rs 1,500,000<\/li><li style=\"text-align: justify;\">Employees of all organizations that apply 50% deduction on salary, the loan limit is Rs 1,500,000.<\/li><\/ul><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Disbursement<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><p style=\"text-align: justify;\">With a quick loan approval process, disbursement is made possible on the same day, subject to the amount of applications received.\u00a0 (Terms &amp; conditions applies)<\/p><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Repayment<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><p style=\"text-align: justify;\">Repayment periods up to 240 months depending on the applicant\u2019s age.<\/p><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">New Loan Application<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><p style=\"text-align: justify;\">New Loan may be applied after having refunded six monthly instalments.<\/p><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Security<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><p>No security is required.<\/p><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Rate of Interest<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><ul><li style=\"text-align: justify;\">Interest rate is currently at 10.50% p.a for civil servants\/premium non-government and 11.65% p.a for non-civil servants (excluding private sectors employees).<\/li><li style=\"text-align: justify;\">It will be automatically adjusted in case of any change in the Mutual Aid Base Rate (MBR).<\/li><\/ul><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Charges\/Fees<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><div class=\"acc-content\"><p>\u00a0<\/p><div class=\"acc-content-inner\"><ul><li style=\"text-align: justify;\">A one-off processing fee of 1% on the loan amount.<\/li><li style=\"text-align: justify;\">A loan coverage fee of 4.50% - 6.00% for all loan applications will apply to write off the loan in case of death.<\/li><li style=\"text-align: justify;\">Applicants will be charged Rs 150 as Bank of Mauritius (MCIB) fee.<\/li><\/ul><\/div><\/div><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Documents Required<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><div class=\"acc-content\"><p>\u00a0<\/p><div class=\"acc-content-inner\"><p style=\"text-align: justify;\">Your application should be supported by the following documents:<\/p><ul><li>Original &amp; photocopy of your recent\u00a0<strong>payslip\/pension slip<\/strong>\u00a0(not more than one month).<\/li><li>Original &amp; Photocopies of Birth Certificates of applicant and guarantors (KYC record). Online Birth Certificate is acceptable.<\/li><li>Original &amp; photocopy of\u00a0<strong>NID card<\/strong>\u00a0of applicant (NIC with initials should be supported by\u00a0<strong>Birth Certificate<\/strong>).<\/li><li>Photocopy of\u00a0<strong>bank document<\/strong>\u00a0showing account number and name of applicant.<\/li><li><strong>Bank statement<\/strong>\u00a0showing name and address or\u00a0<strong>Utility Bill (Central Electricity Board or Central Water Authority or Mauritius Telecom)<\/strong>\u00a0\u2013 (not more than 3 months old); If utility bill is not in name of applicant, a written confirmation and NIC should be secured\u00a0from the utility bill account holder and the original and copy of NIC of signatory.<\/li><li><strong>Certificate from your department<\/strong>\u00a0stating that you are not under report, not on leave without pay and not involved in a police case - Valid for 1 month.<\/li><li><strong>Completed Emailing of Statement of Accounts; Borrowers Declaration and Loan Deduction Authority (LDAF)<\/strong>\u00a0forms.<\/li><li>Loan offset form\/Letter of undertaking (where applicable).<\/li><\/ul><\/div><\/div><\/div><\/div><div class=\"tf-accordion-item \"><div class=\"accordion-title icon_after \"><span class=\"title-text\">Click to download forms<\/span> \t\t\r\n\t\t\t\t<span class=\"wrap-accordion-icon wrap-accordion-icon-right\">\t\t\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-close\"><i class=\"fas fa-arrow-right\"><\/i><\/span>\r\n\t\t\t\t<span class=\"accordion-icon accordion-icon-open\"><i class=\"fas fa-arrow-down\"><\/i><\/span>\r\n\t\t\t\t<\/span><\/div> <div class=\"accordion-content\"><ul><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/MQL_loan_Form.pdf\" target=\"_blank\" rel=\"noopener\">Mutual Aid Quick Loan Application<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/MQL_Info_Sheet.pdf\" target=\"_blank\" rel=\"noopener\">Mutual Aid Quick Loan Information Sheet<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/SICOM_Undertaking_Form.pdf\" target=\"_blank\" rel=\"noopener\">Deduction from Monthly Pension\/Retirement Benefits<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/DECLARATION_FROM_BORROWER.pdf\" target=\"_blank\" rel=\"noopener\">Borrower Declaration Form<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/EMAILING_STATEMENT.pdf\" target=\"_blank\" rel=\"noopener\">E-mailing of Statement of Account<\/a><\/li><li>Loan Deduction Authority Form (LDAF)<ul><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF_A_AGEN_SICOM.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - Accountant General\/SICOM Ltd<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF_C_NTC.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - C: National Transport Corporation<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF_D_NEF.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - D: National Empowerment Foundation (NEF)<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF_PENSIONERS_D_AGEN.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - Pensioner Accountant General<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF_PENSIONERS_D_SICOM.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - Pensioner SICOM Ltd<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF-PENSIONERS-F-AGEN-SICOM.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - Pensioner Accountant General\/SICOM Ltd<\/a><\/li><li style=\"text-align: justify;\"><a href=\"http:\/\/www.mcsmutualaid.mu\/files\/LDAF_COTTON_BAY_LOANEE_GUARANTOR.pdf\" target=\"_blank\" rel=\"noopener\">LDAF - Cotton Bay Hotel Resort Co Ltd - By Loanee\/ Guarantor(s)<\/a><\/li><\/ul><\/li><\/ul><\/div><\/div>\r\n            <\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t<\/section>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Know more about: MQL Loan Take the path of fast forward to realize your dreams! Mutual Aid Quick Loan is the quickest path to realizing your dreams. You can borrow up to Rs 7,000,000 without having to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-13043","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>MQL Loan | MCS Mutual Aid<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.megaserverstore.com\/mcsmutualaid\/mql-loan\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"MQL Loan | MCS Mutual Aid\" \/>\n<meta property=\"og:description\" content=\"Know more about: MQL Loan Take the path of fast forward to realize your dreams! 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