Home Construction Financing

Key features

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

• Apply jointly with others. At least one applicant should have a legal connection to the property.
• Non-refundable application fee of MVR 1,000

Lease rates vary with the equity invested:

• 20% equity: 10.5% p.a.
• 35% equity: 10.25% p.a.
• 50% equity: 10% p.a.

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)
• Client should be a BML Customer with at least 12 months account operation (income must be routed to account)

How do I apply?

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.