Rules & rates
MFLC's Home Loan, in plain terms
Maldives Finance and Leasing Company lends for buying, building or renovating a home: from MVR 200,000, over five to ten years, with 20% of your own money and a guarantor. What its Home Loan offers, who it suits, and what it does not publish.
Maldives Finance and Leasing Company (MFLC) is a locally owned finance company licensed by the Maldives Monetary Authority. It has lent in the Maldives since 2002. Its main housing product is the Home Loan, which MFLC lists among its corporate finance products.
What it pays for
- Building a new home, or extending, renovating or improving one.
- Buying land or a housing unit.
The terms MFLC publishes
| Home Loan | |
|---|---|
| Amount | Above MVR 200,000 (no maximum published) |
| Term | 5 to 10 years (60 to 120 months) |
| Grace period | 3 to 12 months |
| Your equity | At least 20% of the total project cost |
| Security | The property being financed |
| Age | 18 to 60 |
| Guarantor | Required for individuals: someone with a stable income |
| Rate | Not published |
If construction is involved, the contractor must have five years' experience and be registered with MFLC.
How it compares with a bank
The differences from the big banks' home financing are large:
- Shorter term: ten years at most, against up to 25 at Bank of Maldives. Monthly payments are therefore much higher for the same amount.
- More equity: 20% rather than 5%.
- A guarantor: required for every individual borrower.
What MFLC offers instead is a second lender to try, with an application process it says takes a few working days once documents are complete.
Who it might suit
- Buyers who want to own outright quickly and can carry a higher monthly payment.
- Owners building or extending on land they hold, especially where rent from the new floors will help repay. MFLC's form asks for expected rent.
- Borrowers who need a second source of finance alongside a bank.
Before you apply
Ask MFLC for, in writing: the rate, whether it is fixed, the maximum amount it will lend you, and whether insurance is required. None of these is published.
As published by MFLC on 18 October 2026. MFLC does not publish its rates; ask for them in writing. General information, not financial advice.
Compare lenders with the concierge
Sources and method
- www.mflc.mv/business/home-loan (MFLC Home Loan page, read 18 October 2026)
- www.mflc.mv/_files/ugd/1bb910_ee00e9c130cc4073a2eeaef1c379e36f.pdf (MFLC Corporate Finance – Home Loan application form, V1 Feb 2026)
- www.mflc.mv/about (MFLC About, read 18 October 2026)
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