Bank of Maldives yesterday has introduced a dedicated loan product for Maldivian teachers and lecturers. With this new addition to the Bank’s lending suite, teachers will be able to avail loans up to MVR100,000 for a period of 5 years.
CEO and Managing Director Andrew Healy stated, “Teachers play a pivotal role in our community by nurturing, moulding and shaping the future generations of the nation. As the national bank, we’re proud to launch this customized loan product for this special group of people in our society.”
The Minister of Education, Dr. Aishath Shiham praised BML for this initiative and acknowledged that this loan product is a remarkable contribution made for the sake of the beloved teachers of this nation.
This loan product offers teachers loans ranging from MVR 50,000 to MVR100,000 at 15% interest per annum. The purpose of the loan is to encourage the development of teachers, whether it is a training programme or further studies, or to purchase additional equipment such as laptops.
All BML branches will accept loan applications and additional information is available on our websitewww.bankofmaldives.com.mv or our Customer Service hotline 3330200. The Teachers’ Loan is one of the many customized financing products being introduced by the Bank this year.