# The cost of signing with HDFC: fees, deposit and insurance

> Borrowing MVR 2.4 million from HDFC costs MVR 500 to apply, 1% to process (capped at MVR 50,000), a deposit of three months' payments held for the whole term, insurance and court registration. The full list from HDFC's January 2026 schedule.

Source: Maldives Real Estate News, published by Binga Properties. URL: https://news.binga.mv/hdfc-fees-cost-of-signing
Published: 2026-10-18T07:36:44.603Z · Updated: 2026-10-18T07:36:44.603Z · Event date: 2026-10-18

Housing Development Finance Corporation (HDFC) publishes a **schedule of charges**; the current version took effect in **January 2026**. Here is what a buyer pays to borrow **MVR 2.4 million** for a **MVR 3 million flat**.

## Up front

| Charge | Amount | On MVR 2.4m |
|---|---|---|
| Application | MVR 500 | 500 |
| Processing and inspection | 1%, capped at MVR 50,000 | 24,000 |
| Deposit | Three months' payments, **held for the whole term** | about 70,600 at 11% |
| Credit bureau report | MVR 150 per applicant | 150+ |
| Mortgage registration at court | MVR 2,500, or as the court sets | 2,500 |
| Insurance | Set by the insurer, for the term | ask |

So, beyond the **MVR 600,000 equity**, budget roughly **MVR 100,000** plus insurance.

## The deposit is the one to notice

HDFC holds **three months' payments** for the life of the loan. It is your money, but you cannot use it. Ask how and when it is returned.

## During the loan

- **Reschedule or restructure:** MVR 1,500.
- **Changing the drawdown schedule** (from the second request): 0.05% of the undrawn balance.
- **Extending the grace period** (from the second request): 1% of the undrawn balance.
- **Statement or letter:** MVR 200.

## If you fall behind

A late charge of **10% of the overdue amount**, and legal recovery costs: MVR 10,000 to file in Malé, plus MVR 1,000 a hearing, up to MVR 50,000.

*As published by HDFC on 18 October 2026. Rates and terms change; confirm them with HDFC before you commit. General information, not financial advice.*

## Sources
- hdfc.com.mv/api/resource-downloads/file/HDFC-ScheduleOfCharges-V3.1-Jan2026.pdf (HDFC Schedule of Charges v3.1, January 2026) (https://hdfc.com.mv/api/resource-downloads/file/HDFC-ScheduleOfCharges-V3.1-Jan2026.pdf (HDFC Schedule of Charges v3.1, January 2026))
- hdfc.com.mv/conventional-facilities/home-purchase (HDFC Home Purchase, read 18 October 2026) (https://hdfc.com.mv/conventional-facilities/home-purchase (HDFC Home Purchase, read 18 October 2026))

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