Am I eligible?
To apply for this facility, you should:
- Be a Maldivian aged between 18 years to 60 years (If above 60 years at the time of application submission, application can be submitted in joint capacity).
- Either own a land, or should be the child or parent of the land owner.
- Earn sufficient income to cover the facility monthly repayment (rental income from proposed project will not be considered).
- Income must be routed to any bank account for past 6 months and most recent months’ income must be routed to your BML account.
- Income from all sources such as salary, business income, rental income will be considered.
- Client should be a BML Customer with at least 12 months account operation.
- Repayment of all existing credit facilities should be satisfactory for the past 12 months.
- Application Fee: MVR 1,000 (Non-refundable)
- Processing Fee: 1.5% of the financing amount