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Home Buying,

BML Islamic Home Purchase Financing

Home Buying,
he Islamic Way

A Shariah-compliant alternative to purchase apartments, flats, or row houses anywhere in the Maldives. Make your dream home a reality with flexible, values-driven financing.

Based on the Shariah principle of

Diminishing Musharakah

Lease rate

9% p.a.

Financing Period

up to 25 years

with a grace period of up to 24 months.

Existing Home Owners

Our Home Purchase Financing can also be used by existing homeowners to buy another property.

Deposit & Gurantors

No additional deposit, security, or guarantor required.

Equity

20% equity required, which can be financed through savings or the Pension Fund.

Eligibility Criteria

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Eligibility

Be a Maldivian aged between 18 and 60 years at maturity.

The facility can be availed individually or jointly.

Earn sufficient income to cover the monthly repayment of the facility (rental income from the proposed project will not be considered).

Income must be routed through any bank account for the past 6 months, and the most recent month’s income must be routed to your BML account.

Income from all sources, including salary, business income, and rental income, will be considered.

Repayment of all existing credit facilities should be satisfactory for the past 12 months.

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End-User Financing Projects

End-User Financing Projects If you are purchasing an apartment or row house from a project that is under development/construction, the project must be approved by the bank. Currently, the following projects are approved:

How to Apply?

IN MALE’

BML

Make an Appointment

Schedule a visit through our Appointment Portal or BML Mobile App to visit our Business Centre in Male’.

BML

Receive SMS

Once your appointment is confirmed, you’ll get the time and details via SMS.

Visit Business Centre

Go to the BML Business Centre in Male’ at your scheduled time to submit your Retailer’s Loan application along with required documents.

OTHER LOCATIONS

BML

Find Nearest Branch

Visit your nearest branch and submit the completed application form along with required documents.

Available Branches

• Hulhumale’

• Hithadhoo

• Gan

• Mahibadhoo

• Kulhudhuffushi

• Eydhafushi

TIMES

Operating Hours

Business Centre and branches are open from 8:30am to 2:00pm, Sunday to Thursday (except public holidays).

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Useful downloads

Application BMLI Letter Of Credit

pdf · 112.25 KB

Notice Of Public Directorship Dv

pdf · 111.50 KB

Notice Of Directorship Candidates Dv

pdf · 280.81 KB