BML Announces The Lowest Home Loan Rates In The Country, Yet!

Customers seeking for new loans or refinancing current loans with other financial institutions can take advantage of the lower rates now available in which Bank of Maldives has announced in their latest public announcement.

BML's Home Loan allows customers to buy apartments and row houses anywhere in the country over a 20-year repayment period.

Commenting on the importance of such an action needed in the country, the CEO and Managing Director of BML, Tim Sawyer was pleased to announce rate reductions for a number of products in the bank’s loan portfolio. Explaining further, Tim also highlighted that the bank now offers the country’s lowest interest rate for home loans which will result in substantial savings for home buyers.

Moreover, along with the announcement of the Home Loan, Tim also announced the Kiyavaa Loan rate has also been reduced and that the bank has also eased Lifestyle Loan eligibility effective from December 5^th, 2021.

BML has lowered the interest rate on the Kiyavaa Loan to 9% in order to help students who are pursuing higher education. The secured Lifestyle Loan has also undergone adjustments, allowing consumers with any sorts of verifiable income to apply for the loan.