Lifestyle Loan

Key features

If you receive regular rental income, you're eligible for our Lifestyle Loan

• Borrow from MVR 25,000 up to MVR 300,000 without any additional security at 18%
• Borrow from MVR 300,000 up to MVR 1.5 million with additional security at 12%
• Repay over 5 years
• No equity or guarantor required

Eligibility Criteria

• Personal net monthly income from all sources including rental income must be sufficient to cover the repayment amount. Only rental income will be considered for unsecured loans.
• Property offered as security must be owned by the borrower and must generate rental income. Its current value must be at least 150% of the loan amount.
• Maximum age limit is normally 60 years, though this may not apply if the loan repayment can be met from rental income

How is rental income verified?

• Rental income from a property with a valid rental agreement
• If the loan amount is between MVR 25,000 to MVR 300,000, rent should have been deposited to your BML account for the past 12 months
• If the loan amount exceeds MVR 300,000, rent should have been deposited to your BML account for the past 3 months

How do I apply?

If you're ready to apply, call our Contact Center at 3330200 and arrange for a convenient time to visit our Loan Centre if you are in Male'.

You can also visit any of our branches where our team will be happy to help you with your loan application.