# Paid in dollars? Bank of Maldives' 7.5% home financing for USD earners

> Maldivians earning in US dollars, including resort, guesthouse, hotel and safari staff, can finance a home with Bank of Maldives at 7.5% a year, repaying in dollars. Who qualifies, how service charge counts, and what it costs on a typical flat.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/bml-home-financing-usd-earners-tourism
Published: 2026-10-18T07:27:31.990Z · Updated: 2026-10-18T07:27:31.990Z · Event date: 2026-10-18

Many Maldivians who work in tourism are paid in US dollars. Since **April 2026** Bank of Maldives (BML) has offered them home financing at **7.5% a year**, below the 9% it charges in rufiyaa. The bank calls it one of the lowest home financing rates in the country, apart from the government's Hiyaavehi scheme.

## The terms

- **Rate:** 7.5% a year, BML's USD base rate of 9.5% minus 2%.
- **Paid out in rufiyaa,** to the developer or seller.
- **Repaid in US dollars,** from your dollar income.
- **Otherwise Home Purchase Financing:** up to 25 years, 5% equity, a grace period of up to 24 months, the same approved-project rule for homes still being built.

## Who qualifies

- **Maldivians earning in US dollars,** both residents and Maldivians living abroad. Non-resident Maldivians must meet additional requirements set by the bank.
- **At least 12 months** of USD income.
- **Tourism staff** at resorts, guesthouses, hotels and safari vessels were the group BML launched it for. For them, **service charge counts as income** alongside salary, and both must be paid into a BML account.

## What it costs

Our estimate at 7.5% over 25 years: about **USD 739 a month for every USD 100,000** financed.

Take a flat at MVR 3.75 million. With 5% down, about USD 231,000 is financed at the official rate of about MVR 15.42 to the dollar. That works out at roughly **USD 1,710 a month**.

## Two things to weigh

- **The currency risk is yours.** You owe dollars. If your dollar income falls, through a quieter season or lower service charge, the payment does not.
- **Service charge varies.** Ask how BML averages it when it assesses your income, and plan for a low month, not a good one.

*Terms as published by Bank of Maldives; payment figures are our estimates. General information, not financial advice.*

## Sources
- www.bankofmaldives.com.mv/articles/915/bank-of-maldives-introduces-new-home-financing-for-tourism-sector-employees (BML, 23 April 2026) (https://www.bankofmaldives.com.mv/articles/915/bank-of-maldives-introduces-new-home-financing-for-tourism-sector-employees (BML, 23 April 2026))
- www.bankofmaldives.com.mv/personal/financing/home-purchase-financing (BML Home Purchase Financing product page, read 18 October 2026) (https://www.bankofmaldives.com.mv/personal/financing/home-purchase-financing (BML Home Purchase Financing product page, read 18 October 2026))
- www.bankofmaldives.com.mv/storage/file/369/11511/schedule-of-charges-bml-islamic-en.pdf (BML Islamic Schedule of Charges and Fees, 60th edition, effective 5 October 2026) (https://www.bankofmaldives.com.mv/storage/file/369/11511/schedule-of-charges-bml-islamic-en.pdf (BML Islamic Schedule of Charges and Fees, 60th edition, effective 5 October 2026))

Binga Properties is a real-estate concierge; it may represent homes and developments mentioned here.