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Flexible Financing

BML Islamic Lifestyle Financing

Flexible Financing
for Everyday Living

Shariah-compliant financing for property owners who receive regular rental income. Use it to enhance your lifestyle while staying true to your values.

Unsecured financing available from

MVR 25,000 to MVR 300,000

at a rate of 15% p.a.

Secured financing available from

MVR 300,000 to MVR 1.5M

at a rate of 12% p.a., with additional security required.

Financing period of up to

5 years

No further guarantees or securities required for unsecured financing.

Eligibility Criteria

& Repayment

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For Lifestyle Financing (Unsecured)

Only rental income is considered for unsecured financing.

Rental income must be routed through a BML account for the past 12 months.

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

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For Lifestyle Financing (Secured)

Your net monthly income, including rental income, must be sufficient to cover the repayment amount (income does not need to be tied to the property owned or mortgaged).

Rental income must be routed through any bank account for the past 3 months, with the most recent month’s rental income routed to your BML account. The rental income must be from a property with a valid rental agreement.

The property offered as security must be valued at least 150% of the financing amount.

The maximum age limit is typically 60 years, though this may be extended if the repayment can be met from rental income.

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