Home Improvement Financing Plus

Key Features

• Financing available from MVR 25,000 to MVR 300,000 to apartments/flats/row houses owners.
• Financing Profit rate is 12% p.a.
• Financing period is up to 5 years and no further guarantee or security is required

Eligibility Criteria

• Applicable for Maldivians aged between 18 and 60 years
• Must have purchased and own a flat / apartment, or row house
• Personal net monthly income from all sources must be sufficient to cover the repayment amount.
• Income earned must be routed via any bank account for past 12 months and minimum 1 month salary must be deposited to your BML account
• Income from all sources such as salary, business income, rental income will be considered
• Repayments of other credit facilities should be satisfactory for the past 12 months

Applicable fees

• For Home Improvement Financing Plus, a processing fee of 1% will be charged.

Note: If the property owner is not eligible, the facility can be availed for immediate family members with a verifiable income source to the bank.

How to apply?

• Submit BML Islamic Home Improvement Financing Plus Application form via registered email to [email protected] or via Internet Banking. When applying online, please ensure documents are color copies of the original in PDF format.
• Customers also can submit BML Islamic Home Improvement Financing Plus Application by visiting BML Islamic Male’ branch or any other Branch located outside of Male’.