Bank of Maldives

Personal Financing

Get unsecured financing for your personal financing needs with our Shari’ah complaint Personal Financing facility. Our product is designed to offer you financing for goods purchased via Authorized Dealers or just cash based on your requirement.

Key features

Financing is available from MVR 10,000 to MVR 1.2 million at a rate of 15% p.a.
Financing period is up to 5 years and no further guarantee or security is required
Processing fee of 1% will be charged on Financing amount

Refinancing Criteria

You can refinance your facility after servicing the facility for at least 12 months.
If your income has increased or you have not previously taken the maximum eligible limit, you can apply for refinancing after servicing the facility for 3 months.
Repayment of existing loan/financing should have been regular.

Am I eligible?

Applicable for Maldivians aged between 18 and 60 years
Income must be routed to BML account for the past 12 months
Income from all sources such as salary, business income, rental income, and Retirement Pension Benefits due to early retirement from Government will be considered
Repayment of all existing loans/financing must be satisfactory for the past 12 months

How do I apply?

If you are registered for BML Internet Banking, apply through “Services” tab from Browser or through ‘Applications’ from Mobile Banking App.
Customers also can submit BML Islamic Personal Financing application by visiting BML Islamic Male’ branch or any other Branch located outside of Male’.
Our BML Islamic Male’ Branch and Branches outside Male’ are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays).

Apply Online

Useful downloads

FAQ - BML Islamic Personal Financing	Dhivehi
BML Islamic Authorized Dealers Agreement	English
Sample Board Resolution For BML Islamic Authorized Dealers Agreement	English
BML Islamic Personal Financing Application form	Dhivehi
Schedule of Charges - BML Islamic	English / Dhivehi
BML Islamic Personal Financing - Checklist	Dhivehi
BML Islamic Authorized Dealers List	English

BML Islamic

Personal Financing

Personal Financing

Key features

Refinancing Criteria

Am I eligible?

How do I apply?

Useful downloads