Revamp, renovate or build your new home with our Construction Loan
To apply for this loan, you should
If you are in Male', you can make an appointment to apply for a Home Loan by calling the BML Contact Center at 3330200, and arrange for a convenient time to visit our Account Opening and Loan Centre.
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.
Do come and talk to our Customer Service representatives at our branches who will be happy to help you with your Home Construction Loan application.
Our Account Opening and Loan Centre is open from 8:30am to 3:00pm, Sundays to Thursdays (except public holidays).
If you are outside of Male city, you can submit a Home Construction Loan Application Form to your nearest branch, along with the required supporting documents as mentioned in the form.
Take a look at the checklist at the end of the Application Form for the complete set of documents you require. Documents relating to the property you intend to build, the investment you have already made and the total project value among others will be needed as part of our assessment.
Equity is what you are required to invest as part of your contribution to the project and it is given as a percentage of your project. For the Home Construction loan, you require equity of 20%. This can be raised through your savings or can be part of the funds already invested in the project.
We’re happy to help you with your loan application. Make an appointment to visit our Loan Centre if you’re in Male’ by calling 3330200 or ask any of our team members at a branch near you.