Improve Your Home with Confidence
Carry out essential repairs and upgrades to your existing property with our Home Improvement Financing, making your home safer, more comfortable, and better suited to your needs.
Key Features
Our Home Improvement Financing solution supports Maldivian homeowners looking to fund necessary repairs, renovations, or improvements, with affordable rates, and manageable repayment periods.
Interest Rate: 11%
Access a fixed and highly competitive rate specifically designed for essential home repairs and upgrades.
Minimum Equity: 0%
Start your renovation project immediately with absolutely no upfront equity contribution required.
Grace Period: Nil
A straightforward repayment schedule that begins immediately following the disbursement of funds.
Repayment Period: Up to 15 Years
Manageable medium-term repayment plans allowing you to spread the cost of major renovations over time.
Mortgage Requirement: Primary
Secured by a primary mortgage on the property that is currently undergoing improvements.
Eligibility Criteria
- All applicants must be Maldivian nationals
- A minimum of two applicants is required
- The land owner must be included as the main applicant
- Co-applicants must have a legal connection to the property through inheritance or marriage
- All property co-owners must apply as co-applicants
- If any co-owner is a minor, the application must be submitted by a court-appointed legal guardian
Application Process
Online Application
Submit your architectural plans, construction contract, and financial documents through our portal.
Valuation & Approval
Our team performs an "as-if-complete" valuation and reviews your builder's credentials for final approval.
Closing & Disbursement
After closing, funds are released to your builder at each completed milestone of the construction.
Document Checklist
Ready to upgrade your living space? See the full document checklist needed below.
✅ National ID Card copy ✅ Attested Marriage/Birth Certificate (if a spouse/child(ren) is participating)
✅ Income verification documents for salaried/bossiness/rental income ✅ 12-month bank statement ✅ MIRA Tax Clearance Report
✅ BOQ or Quotation of Work to be done ✅ Land registry ✅ Proof of equity ✅ Approved Drawing ✅ Construction Permit
FAQs
Find answers to common questions about our facilities and how to apply.
We offer straightforward terms, competitive rates, and a process built on transparency. Our team understands what you need and works to get you there without the usual complications.
Most applications are reviewed within two weeks. We move fast because we know time matters when you're ready to build or buy. The exact timeline depends on how quickly you provide required documents.
We finance homes you're building, buying, or improving. We also cover commercial properties, plots with construction plans, and boarding houses. Each property type has its own eligibility requirements.
Yes. Our Amna facilities follow Shariah principles and are structured to align with Islamic banking standards. They're available for housing finance with the same straightforward process as our conventional options.
Our calculators are free and open to everyone. Use them to estimate EMI, check affordability, plan your budget, or compare loan options. They give you a clear picture before you apply.