Education Financing

Key features

• Finance up to 90% of the cost of education, which includes tuition fees and other living costs, at a rate of 2.5% p.a.
• Financing can be paid over 10 years, after completing your studies
• The value of the property offered as security must be at least 150% of the financing amount

Am I eligible?

• The facility can be availed individually or jointly
• Personal net monthly income from all sources must be sufficient to cover the repayment amount.
• Income must be routed to any bank account for past 6 months and most recent month’s income must be routed to your BML account.
• Income from all sources such as salary, business income and rental income will be considered.
• Property offered as security must be at least 150% of the financing amount.

How do I apply?

If you are in Male', you can make an appointment through our Appointment Portal and arrange a time to visit our BML Islamic Financing Centre located in Male.

Once an appointment is successfully made, you will receive an SMS with your appointment time to visit the Bank. Appointment slots are available for next 10 working days. If the appointments  are full, please try again for the next working day.

If you are in the below listed area, take a token through QueueBee to visit the relevant branch to submit BML Islamic Education Financing application form along with required documents.

• Hulhumale’ - Visit Hulhumale’ Branch
• Hithadhoo - Visit Hithadhoo Branch
• Gan - Visit Gan Branch
• Mahibadhoo - Visit Mahibadhoo Branch
• Kulhudhuffushi - Visit Kulhudhuffushi Branch
• Eydhafushi - Visit Eydhafushi Branch

If you are residing in any other island, visit the nearest branch and submit BML Islamic Education Financing application form along with required documents.

Our BML Islamic Financing Centre and branches outside Male’ are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays).