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 are in Male', you can make an appointment to apply for Home Construction Financing through our Booking Portal and our staff will contact you to arrange a date and time.
If you are outside of Male’ please submit the Application Form along with required documents to the nearest Branch.
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.