Flexible housing construction facility for you to fulfill your housing needs while earning additional income to service the facility

Loan Purpose

  • You could obtain a Home Construction Loan for a variety of purposes:
    • Construction of house where the land is already owned by applicant and/or immediate family members (Spouse, parents or children)
    • Completion / Renovation / Extension to an existing house
    • Refinancing loans granted by other banks for housing purposes

Interest Rate and Charges

  • 9.5% p.a – 12.00% p.a
  • In addition, 0.5% of the Loan amount as an Arrangement Fee with maximum MVR 25,000/- and borrower needs to bear the cost of all insurance policies, legal and valuation fees

Benefits of a Home Loan

  • You can obtain to finance the construction of apartment building and earn additional income from renting out other floors while occupying and service the Bank Loan
The Essentials
  • The minimum loan amount will be MVR 500,000/- while maximum amount of a loan would be MVR 20,000,000/-
  • Maximum grace period of 1 year
  • 20% of equity contribution
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