Bank of Maldives

Key features

Financing is available from MVR 50,000 up to MVR 1 Million
Minimum equity contribution of 25% is required
Financing is available at a lease rate of 9% p.a.
Apply jointly with others. At least one applicant should have a legal connection to the property.
Financing period up to 15 years, with a grace period up to 12 months
Security cover of 100% of the Project cost.

Am I eligible?

To apply for this facility, you should:

Be a Maldivian aged between 18 years to 60 years.
Generate adequate income to fulfill the financing facility repayments (income from the proposed project's rent will not be factored in)
Income must be routed to BML account for past 12 months
Income from all sources such as salary, business income, rental income will be considered
Repayment of all existing credit facilities should be satisfactory for the past 12 months

Applicable Fees

Application Fee: MVR 1,000 (Non-refundable)
Processing Fee: 1.5% of the financing amount

How do I apply?

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

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

Appointments can be made from 12am on the day before each working day.

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

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

Useful downloads

BML Islamic Home Build Financing Application Form	English
FAQ- BML Islamic Home Build Financing	English