Tuesday, 27 October 2026 · Malé Search Newsletter Send us your launch WhatsApp the desk
Maldives Real Estate News

Maldives real estate, reported from the ground: developments, developers, prices, rules, and the homes behind them.

Rules & rates

Using your pension as the down payment with HDFC

HDFC accepts Retirement Savings Account balances pledged as the 20% equity on a flat, and lowers the rate to 10.42% when you do. How the Pension Office and HDFC split the work, and what to check.

By Published 1 min read

Illustration from Binga's stock library: a bedroom with a four-poster bed at sunset. Not the building in this story.
Illustration from Binga's stock library: a bedroom with a four-poster bed at sunset. Not the building in this story.

Housing Development Finance Corporation (HDFC) runs a Pension Benefit Scheme. Members of the Maldives Retirement Pension Scheme can pledge their Retirement Savings Account as the equity on a flat. The rate drops to 10.42%, from 11% on salary alone.

How it works

  • You ask through HDFC, as part of your application, with your RSA statement.
  • The Pension Office decides how much can be pledged and assesses your eligibility.
  • HDFC decides whether you qualify for the financing.

The Pension Office's own rules set how much of your balance can be pledged by age: all of it up to 35, 80% from 36 to 49, 50% from 50 to 60. You must be a Maldivian citizen under 60 and able to repay before 65. The pledged money stays invested and is released when the financing is repaid.

What it saves

On MVR 2.4 million over 25 years, 10.42% instead of 11% is about MVR 1,000 a month less, roughly MVR 300,000 over the term.

An example

A MVR 3 million flat needs MVR 600,000 of equity at HDFC's 20%. A 33-year-old with that much in their pension could pledge all of it. A 40-year-old would need MVR 750,000 in the pension to pledge MVR 600,000.

What to weigh

  • The pension is at stake. If you default, the home is sold first; the pledged pension covers what is left.
  • It ties up retirement savings for the life of the loan, though they keep earning returns.

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

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Sources and method

Prices are asking prices as listed through Binga unless marked achieved, and are dated. Developer descriptions are reported as the developer's own. Facts the desk could not verify are left out. Spotted an error? Write to hello@binga.mv; corrections are noted at the foot of the piece.

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

Rules & rates

I'm over 50. Can I still use my pension to buy a home?

Yes, until you turn 60, but only half your balance, and the loan must be paid off before you turn 65. That shortens the term and raises the payment: on MVR 2.4 million at 11%, about MVR 33,100 a month over ten years against MVR 23,500 over 25.

· 2 min read

Rules & rates

The five lenders that accept your pension, and the five steps to use it

Only five institutions can take your pension savings as a home loan deposit: Bank of Maldives, Maldives Islamic Bank, HDFC, Mauritius Commercial Bank and Commercial Bank of Maldives. How the request moves between you, the lender and the Pension Office, step by step.

· 2 min read

Rules & rates

How much of my pension can I put towards a flat?

It depends on your age and your balance: all of it up to 35, 80% from 36 to 49, half from 50 to 60. Worked examples at each age, and how that compares with the 10% or 20% deposit lenders ask for on a MVR 3 million flat.

· 2 min read