# 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.

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

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.*

## Sources
- 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))
- hdfc.com.mv/api/resource-downloads/file/HDFC-Annual-Report-2025-Final-WebsiteCompressed.pdf (HDFC Annual Report 2025) (https://hdfc.com.mv/api/resource-downloads/file/HDFC-Annual-Report-2025-Final-WebsiteCompressed.pdf (HDFC Annual Report 2025))
- hdfc.com.mv/api/resource-downloads/file/HDFC-Annual-Report-2024.pdf (HDFC Annual Report 2024) (https://hdfc.com.mv/api/resource-downloads/file/HDFC-Annual-Report-2024.pdf (HDFC Annual Report 2024))
- pension.gov.mv/en/faq/housing (Maldives Pension Administration Office, read 18 October 2026) (https://pension.gov.mv/en/faq/housing (Maldives Pension Administration Office, read 18 October 2026))

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