Lui Loan

Eligibility Criteria

• Applicable for Maldivians aged between 18 and 60 years
• Income must be routed to BML account for past 12 months
• Must not increase the maximum eligible unsecured exposure
• Repayment history of all credit facilities must be satisfactory for past 12 months (this includes secured loans, unsecured loans, and credit cards, etc.)

Loan amount and repayment

There are several factors worth considering while determining the loan amount you’ll be able to borrow. These include your income, type of income you earn and credit history.

When you apply for a loan, we will look at:

• Your income – this is made up of all sources of verified income earned by you
• Your expenses and financial obligations – these can include loan payments, other debts such as credit cards and living expenses.

Refinancing?

If you currently have a Lui Loan, you have the option to apply for an enhancement to the loan amount. This means you can settle the existing loan and get an extension with a new Lui Loan.

The following conditions apply:

• You can refinance your loan after servicing the loan for at least 12 months. However, if your income has increased or you have not previously taken the maximum eligible limit, you can apply for refinancing of your existing Lui Loan after servicing the loan for 3 months.
• Repayment history of credit facilities must be satisfactory for past 12 months