Real Estate Financing

Key features

• Based on the Shariah compliant concept of Diminishing Musharakah
• Invest and construct residential/commercial buildings in any location in the Maldives
• No deposit required
• Financing is available from MVR 50,000 up to MVR 150 million
• Minimum equity of 30% is required
• Lease rates vary with the equity invested:

   30% equity: 11% p.a.

   40% equity: 10.75% p.a.

   50% equity: 10.50% p.a.

• Financing period up to 15 years, with a grace period up to 18 months

Real Estate Financing can be utilized for the construction of:

• Residential housing for leasing
• Flats/Apartments/Row Houses
• Condominiums
• Office Premises
• Purchase a land and build a house

Am I eligible?

• Be an individual, business, company or other institution registered in Maldives.
• Be a Maldivian aged between 18 years to 60 years at maturity (If above 60 years at the time of application submission, application can be submitted in joint capacity).
• Client must have a consent agreement with the land owner where land is owned by a third party.
• Be a BML Customer with at least 12 months account operation

Applicable fees

• Application Fee: MVR 1,500 (Non-refundable)
• Processing Fee: 1.5% of the financing amount

How do I apply?

If you are in Male', you can make an appointment through our Booking Portal and arrange a time to visit our BML Islamic Male Branch located in Male.

If you are in the below listed area, take a token through QueueBee to visit the relevant branch to submit BML Islamic Real Estate Financing application form along with the required documents.

• Hulhumale’ - Visit Hulhumale’ Branch
• Hithadhoo - Visit Hithadhoo Branch
• Gan - Visit Gan Branch
• Mahibadhoo - Visit Mahibadhoo Branch
• Kulhudhuffushi - Visit Kulhudhuffushi Branch
• Eydhafushi - Visit Eydhafushi Branch

Once an appointment is successfully made, you will receive an SMS with your appointment time to visit the Bank. If the appointment slots for the day are full, please try again for the next working day.

Appointments can be made from 8am on the day before each working day.

If you are residing in any other island, visit the nearest branch and submit BML Islamic Real Estate Financing Application form along with required documents.

Our BML Islamic Male’ Branch and Branches outside Male’ are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays).