Real Estate Financing

Key features

Based on the Shariah compliant concept of Diminishing Musharakah.

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

Non-refundable application fee of MVR 1,500 but an additional deposit is not required

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?

To apply for this facility, you should

• Be an Individuals, 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

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.