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

Your pension as your deposit: the age table every buyer should see

MIB accepts pension savings pledged as the 10% equity on a home. The Pension Office lets members under 36 pledge all of their balance, 36 to 49 four-fifths, 50 to 60 half. The money stays invested. How it works and who qualifies.

By Published 1 min read

Illustration from Binga's stock library: a dining room at sunset under rattan pendants. Not the building in this story.
Illustration from Binga's stock library: a dining room at sunset under rattan pendants. Not the building in this story.

Maldives Islamic Bank (MIB) lets buyers cover the 10% equity on Ujaalaa Hiyaa by pledging their pension savings. MIB and the Maldives Pension Administration Office (MPAO) agreed this in December 2016.

How much you can pledge

The Pension Office sets the share of your retirement savings account (RSA) you can pledge, by age:

Your ageShare of your RSA
16 to 35100%
36 to 4980%
50 to 6050%

What "pledge" means

  • The money is not withdrawn. It stays in your pension account, still invested and still earning returns.
  • It is held as collateral until the financing is repaid, then released.
  • If you default, the home is sold first; the pledged pension covers any balance still owed.

Who qualifies

  • A Maldivian citizen under 60.
  • Enough MRPS balance, and not already drawing a retirement benefit.
  • Financing from an approved lender (MIB is one).
  • Able to repay in full before 65.

How to ask

Request it through MIB as part of your application, with your pension document. The Pension Office then assesses your eligibility.

A worked example

A 32-year-old with MVR 320,000 in their pension account could pledge all of it. That covers the MVR 300,000 equity on a MVR 3 million flat without touching their savings account. A 45-year-old would need MVR 375,000 in the pension to pledge the same amount.

One caution

Pledged pension is still at stake. Treat it as part of what you could lose if you cannot keep up the payments.

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

Compare lenders with the concierge

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