Green Loan

Key features

• Personal Banking Customers: Borrow from MVR 50,000 up to MVR 500,000 without any additional security at 12% interest
• Personal & Business Customers: Borrow from MVR 50,000 up to MVR 20 Million with additional security at 10% interest.
• No deposit or arrangement fee required.
• 15% equity required for secured Green Loan
• For loan amount below MVR 500,000 repay over 5 years
• For loan amount above MVR 500,000 repay over 20 years

What can be funded under Green Loan?

• The project should be an environment-friendly project focused on renewable energy sources
• Products such as renewable energy production or expansion
• Retailers looking to finance their projects to grow their business in renewable energy or in a similar market

Am I eligible?

For Green Loan (Unsecured)

• Income must be routed to BML account for past 12 months
• Repayment of all existing credit facilities should be satisfactory 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

For Green Loan (Secured)

• Income must be routed to any bank account for past 6 months and most recent month’s income must be routed to your BML account
• You should be able to raise your own contribution of 15% of the loan amount
• The value of the property offered as security must be at least 150% of the loan amount

How do I apply?

If you’re registered for Internet banking, apply for Green Loan (Unsecured) through “Services” tab or submit an application form to any of our branches.

For Green Loan Secured

If you are in Male’ you can make an appointment through our Appointment Portal and arrange a time to visit our BML Loan Center located in Male. 

Once an appointment is successfully made, you will receive an SMS with your appointment time to visit the Bank. Appointment slots are available for next 10 working days. If appointments are full, please try again for the next working day.

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

• Male’ - Visit BML Loan Center
• Hulhumale’ - Visit Hulhumale’ Branch
• Hithadhoo - Visit Hithadhoo Branch
• Gan - Visit Gan Branch
• Mahibadhoo - Visit Mahibadhoo Branch
• Kulhudhuffushi - Visit Kulhudhuffushi Branch
• Eydhafushi - Visit Eydhafushi Branch

If you are residing in any other island, visit the nearest branch and submit Green loan application form along with required documents.

Our Loan Centre and branches are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays)