Bank of Maldives

Islamic Personal Financing

Personal Financing,

Aligned with Your Values

Our Islamic Personal Financing facility is based on the Shariah principle of Murabaha (cost plus profit). It enables you to meet a range of personal needs — from home improvements and travel to medical expenses — while staying true to your values.

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Loan Amount

MVR 10,000 to MVR 1.2M

Financing is available from MVR 10,000 to MVR 1.2 million at a rate of 15% p.a.

Financing period

Up to 5 years

At a rate of

15% per annum

Security or Guarantor

Not Required

Auto Repayment

Repayments will be automatically deducted from income account.

Approval Time:

Instant for eligible applicants

Instant approval is available for customers with 12 months of consecutive BML payroll and a good credit history.

Eligibility Criteria

& Repayment Options

Age: 18 to 60 years

Income History: Minimum 12 months with income routed to a BML account

Credit History: Satisfactory repayment record over the past 24 months

Citizenship: Available to Maldivian citizens only

Repayment

Repayments for unsecured facilities, including Lui Loans and Personal Financing, are automatically deducted from the settlement account on the 7th of every month. However, if the 7th falls on a holiday, the repayment will be deducted on the last working day prior to the 7th.

Repayments for secured facilities are automatically deducted from the settlement account on the last day of every month. However, if the last day of the month falls on a holiday, the repayment will be deducted on the last working day before the end of the month.

Refinancing Criteria

You can refinance your facility after servicing the facility for at least 12 months.

If your income has increased or you have not previously taken the maximum eligible limit, you can apply for refinancing after servicing the facility for 3 months.

Repayment history of credit facilities must be satisfactory for the past 12 months.

Flexible Funds, Your Way

Use your Lui Loan for the moments that matter—planned or unexpected. No restrictions, just possibilities.

Emergency medical expenses

Travel and relocation

Tuition or course fees

Home improvements or repairs

Debt consolidation or bill clearance

Buying essential electronics or appliances

Wedding or event-related costs

Short-term working capital for freelancers or side projects

Emergency medical expenses

Travel and relocation

Tuition or course fees

Home improvements or repairs

Debt consolidation or bill clearance

Buying essential electronics or appliances

Wedding or event-related costs

Short-term working capital for freelancers or side projects

Emergency medical expenses

Travel and relocation

Tuition or course fees

Home improvements or repairs

Debt consolidation or bill clearance

Buying essential electronics or appliances

Wedding or event-related costs

Short-term working capital for freelancers or side projects

Emergency medical expenses

Travel and relocation

Tuition or course fees

Home improvements or repairs

Debt consolidation or bill clearance

Buying essential electronics or appliances

Wedding or event-related costs

Short-term working capital for freelancers or side projects

Emergency medical expenses

Travel and relocation

Tuition or course fees

Home improvements or repairs

Debt consolidation or bill clearance

Buying essential electronics or appliances

Wedding or event-related costs

Short-term working capital for freelancers or side projects

Emergency medical expenses

Travel and relocation

Tuition or course fees

Home improvements or repairs

Debt consolidation or bill clearance

Buying essential electronics or appliances

Wedding or event-related costs

Short-term working capital for freelancers or side projects

How to Apply?

Apply Online

Submit your application form along with required documents through the Message Centre on Internet Banking or Mobile Banking App. Once submitted, we will review the request and be in touch with you.

Useful downloads

BML Islamic Authorized Dealers Agreement

pdf · 1.86 MB

Sample Board Resolution For BML Islamic Authorized Dealers Agreement

pdf · 266.33 KB

schedule-of-charges-bml-islamic-en

pdf · 1.30 MB

BML Islamic Authorized Dealers List

pdf · 499.94 KB

Personal Financing Repayment Tier Table

pdf · 519.93 KB

FAQ - Instant Financing

pdf · 153.15 KB