Revamp, renovate or build your new home with our Construction Loan
o 20% Equity at Interest Rate 10.50%
o 35% Equity at Interest Rate 10.25%
o 50% Equity at Interest Rate 10%
To apply for this loan, you should
Application Fee: MVR 1,000 (Non-refundable)
Processing Fee: 1.5% of loan amount
If you are in Male’ you can make an appointment through our Booking 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. If the appointment slots for the day are full, please try again for the next working day.
Appointments can be made from 12am on the day before each working day.
If you are in the below listed area, take a token through QueueBee to visit the relevant branch to submit the Home Construction Loan application form along with required documents.
If you are residing in any other island, visit the nearest branch and submit Home Construction 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)
Please note that this is an estimate, and may differ from the actual repayment amount.
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 minimum 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. you can make an appointment through our Booking Portal and arrange a time to visit BML Loan Centre or walk-in to Hulhumale’ Branch if you’re in Male’ or Hulhumale’. or ask any of our team members at a branch near you.