Bank of Maldives

Key Features

Borrow from MVR 50,000 up to MVR 1 million to build or renovate homes
Minimum 25% equity contribution
Interest rate 9% p.a.
Apply jointly with others. At least one borrower should have a legal connection to the property
Repay over 15 years and enjoy a flexible grace period of up to 12 months
No additional security required

Am I eligible?

To apply for this loan, you should

Be a Maldivian aged between 18 to 60 years
Generate adequate income to fulfill the loan repayments (income from the proposed project's rent will not be factored in)
Income must be routed to BML account for past 12 months
Income from all sources such as salary, business income, rental income will be considered
Repayment of all existing credit facilities should be satisfactory for the past 12 months

Applicable Fees:

Application Fee: MVR 1,000 (Non-refundable)

Processing Fee: 1.5% of loan amount

How do I apply?

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 the Home Build Loan application form along with required documents.

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 Home Build Loan application form along with required documents.

Book appointment

Home Build Loan Application Form	English / Dhivehi
FAQ - Home Build Loan	English / Dhivehi

Home Build Loan

Key Features

Am I eligible?

How do I apply?

Useful downloads