Home Purchase Loan calculator
Compare home financing options from leading banks in the Maldives and estimate your monthly repayments with ease.
Adjust the property value, financing amount, and repayment period to find a loan option that fits your budget.
Loan terms and approval are subject to each bank’s latest policies and eligibility requirements.
Note: This calculator provides an estimate only. The final approved loan amount may vary based on the applicant’s financial standing and repayment capacity.
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| Feature | Bank of Maldives (BML) | Maldives Islamic Bank (MIB) |
|---|---|---|
| Financing Type | Conventional Loan | Islamic Home Financing |
| Interest / Profit Rate | 9% | 9% – 10% |
| Minimum Equity | 5% | 10% |
| Equity Source | Cash / Pension Fund | Cash / Pension Fund |
| Maximum Tenure | 25 Years | 25 Years |
| Grace Period | Up to 24 Months | Up to 3 Months (completed properties) |
| Co-Applicants | Not specified | Immediate family allowed |
| Security / Guarantor | No additional guarantor | Based on bank assessment |
| Insurance | Standard property insurance | Full Takaful required |
| Income Requirement | Bank assessment | Total commitments must be under 50% of income |
| Eligible Properties | Homes, land, parking, second property | Approved residential projects |
Please schedule an appointment with the bank to check whether you are eligible for the loan. You can request an appointment here.
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