Bank of Maldives (BML) have made introduction of Islamic Home Improvement Financing facility.
Moreover, the new financing facility is targeted to individuals who require financial support in completing the apartments awarded from social housing projects.
The new Islamic Home Improvement Financing is also interest-free while the facility will help customers to buy necessary household items, including furniture or home appliances.
Furthermore, as per BML the facility is available for individuals who have been awarded social housing in any atoll or islands.
According to the Interim in Charge of BML Islamic, customers who wish to acquire the financing with the inclusion of an additional person can have the opportunity upon request.
Meanwhile, BML offers financing up to MVR150,000 under the facility with a repayment period of 5 years.
Customers who wish to pay their loan prior to the 5-year period will receive the opportunity if they request for it with discount applicable as per BML policy.
In addition to this, customers can mail quotation copies of the items they wish to purchase in a PDF file format at [email protected].