- Borrow from MVR 25,000 up to MVR 300,000 without any additional security at 12%
- Repay over 5 years
- No equity or guarantor required
- Applicable for Maldivians aged between 18 and 60 years
- Must have purchased and own a flat / apartment, or raw house
- Income earned must be routed via any bank account for past 12 months and most recent months’ income must deposited to your BML account
- Income from all sources such as salary, business income, rental income and Retirement Pension Benefits due to early retirement from Government will be considered
- Repayment of all existing credit facilities must be satisfactory for past 12 months
Note : If the property owner is not eligible, a joint loan facility can be availed for immediate family members with a verifiable income source to the bank.
Applicable fees: a processing fee of 1% will be charged.
How to apply?
If you are in Male’ or Hulhumale’, submit the Home Improvement / Home Improvement Loan Plus application form along with the required documents to BML Loan Centre or Hulhumale’ Branch.
If you are residing in any island, visit the nearest branch and submit Home Improvement / Home Improvement Loan Plus application along with required documents.
Our Loan Centre and branches are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays)
Home Improvement Loan Plus
Please note that this is an estimate, and may differ from the actual repayment amount.
|Home Improvement Loan/ Home Improvement Loan Plus Application form
|FAQ - Home Improvement Loan/ Home Improvement Loan Plus