Our BML Home Construction Loan helps you build the home of your dreams while enjoying a longer repayment period - of up to 20 years. You can use the Home Construction Loan to purchase land and build a new house, renovate your home, add a bathroom, kitchen or any other extension to your existing home; and even use it to refinance your existing construction loan from another institution.
Lowest interest rate in the country
No deposit required
Loan amount from MVR 50,000 to MVR 15,000,000
Repayment period of up to 20 years
Flexible grace period of up to 18 months
In addition to salary income, income from other sources and even the forecast income from the project for example, rental income, will be considered
Can be taken jointly with other individuals
Maldivians aged between 18 to 60 years
Borrower should be land owner, children or parents of land owner (at least one Borrower should have a legal connection)
We will then assess your application, and will be in contact with you for the next steps. Processing time for Home Construction Loan does vary based on individual applications and we will keep you updated throughout the process.
Need to check your loan application status?
Contact the branch you have applied to get updates on your loan.
You can keep track of your loan account via Internet Banking, Mobile Banking App or through monthly statements.