Rules & rates
Ten years, not twenty-five: what a short term does to your monthly payment
MFLC lends for homes over five to ten years; banks now go to 25. On every MVR 1 million borrowed, a ten-year term costs roughly MVR 4,000 to 5,000 more a month, and far less in total. Worked examples at illustrative rates.
Maldives Finance and Leasing Company (MFLC) lends for homes over five to ten years. Bank of Maldives now finances home purchases over up to 25 years. The term changes the monthly payment more than any rate difference.
MFLC does not publish its rates, so the figures below use illustrative rates, not MFLC's. They show how the term works; ask MFLC for your actual rate.
Every MVR 1 million borrowed
| Rate (illustrative) | 5 years | 10 years | 25 years |
|---|---|---|---|
| 9% | MVR 20,760 a month | MVR 12,670 | MVR 8,390 |
| 10% | MVR 21,250 | MVR 13,220 | MVR 9,090 |
| 12% | MVR 22,240 | MVR 14,350 | MVR 10,530 |
Over the whole loan
- 10 years at 10%: about MVR 1.59 million repaid for each MVR 1 million borrowed.
- 25 years at 9%: about MVR 2.52 million repaid for each MVR 1 million.
A short term costs more each month and much less overall.
On a MVR 3 million flat
MFLC asks for at least 20% equity: MVR 600,000 down. Financing the other MVR 2.4 million over 10 years at an illustrative 10% would cost about MVR 31,700 a month.
Who a short term suits
- Buyers with high incomes who would rather be debt-free in ten years.
- Second lenders' top-ups: a smaller, shorter loan alongside a main bank financing.
- Owners building to let, where rent from new floors repays the loan.
For most first-time buyers, the monthly payment on a ten-year term will be the deciding constraint. Work it out before you pay any booking fee.
As published by MFLC on 18 October 2026. MFLC does not publish its rates; ask for them in writing. General information, not financial advice.
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Sources and method
- www.mflc.mv/business/home-loan (MFLC Home Loan page, read 18 October 2026)
- www.mflc.mv/maal/maal-musharakamutanaqisa (MFLC Maal Musharakah Mutanaqisah page, read 18 October 2026)
- www.bankofmaldives.com.mv/personal/financing/home-purchase-financing (BML, read 18 October 2026)
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.
- For buyers
- Organisation Maldives Finance and Leasing Company (MFLC)
- Topic home finance
- Topic monthly payments
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