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BML Lifestyle Loan

The BML Lifestyle Loan has been designed to provide easy access to finance up to MVR1.5 million to those property owners who receive a rental income from their property.

The loan can be used for a range of personal or business-related purposes such as to finance home improvements, children’s education or to meet urgent business requirements. The customer’s property will stand as security against the borrowing.


Key Features

  • Loan amount: MVR 100,000 – 1.5million
  • Maximum repayment period: 5 years
  • Interest rate: 12% p.a.
  • No equity required
  • No guarantor required


Eligibility

  • Personal net monthly income from all sources including rental income must be sufficient to cover the repayment amount.
  • Property offered as security must be owned by the borrower and must generate rental income. Its current value must be at least 150% of the loan amount.
  • Maximum age limit is normally 60 years, though this may not apply if the loan repayment can be met from rental income.


How to Apply

Please submit a BML Lifestyle Loan Application Form to any of our branches or to your relationship manager together with all supporting documents as stated on the form.

Quick Links

BML Lifestyle Loan Application Form

Personal Information Form

FAQ

General Terms and Conditions for Credit Facilities (Dhi / Eng)