Building or renovating your home is now possible with our Shariah compliant Home Construction financing, based on the Islamic principle of Diminishing Musharakah. You can also apply for re-financing of existing home construction loans/finance facilities taken from BML or from another institution for the same purpose.
Financing is available from MVR 50,000 up to MVR 15,000,000.
Financing period up to 15 years, with a grace period up to 12 months
Minimum equity of 20% is required
Lease rates vary with the equity invested:
To apply for this facility, you should:
If you're ready to apply, call our Contact Center at 3330200 and arrange for a convenient time to visit BML Islamic Male’ Branch if you are in Male'. You can also visit any of our branches outside Male’ where our team will be happy to help you with your financing application.