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 any bank account for past 12 months and most recent month’s income must be routed to your BML account
• 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.

If you are in Male’ or Hulhumale’, you can take a token through QueueBee to visit BML Loan Centre or Hulhumale’ Branch to submit the Green Loan application form along with required documents

If you are residing in any 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)