Lite Financing
Quick and easy lending solution without a mortgage, our Lite Financing is made for home renovation projects and purchase of furniture & appliances.
Key Features
Our Lite Financing solution is tailored for Maldivian homeowners looking to finance their home renovation projects and for purchasing furniture and appliances.
Interest Rate: 15%
Straightforward financing perfect for immediate needs like furniture, appliances, and light room renovations.
Minimum Equity: 0%
Get 100% of the funding you need (Minimum MVR 50,000 and up to MVR 500,000) with zero initial equity required.
Grace Period: Nil
Immediate, seamless repayment structure managed securely through automated employer salary deductions.
Repayment Period: Up to 5 Years
A quick, short-term commitment that allows you to pay off your facility fast.
Mortgage Requirement: None
Completely unsecured financing based purely on your employment history and verifiable salaried income.
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
Need a streamlined financing solution? See the full document checklist needed below.
✅ National ID Card copy
✅ Quotation of Work to be done
✅ Employment Letter ✅ 12-month bank statement ✅ Salary slips of past 6-months
Looking for Registered Employers?
For Lite Financing, employers which are approved by HDFC for Government Institutions, Ministries, State-Owned Enterprises (SOEs), and Private Sector Companies are eligible to have their employees sign up for salary deduction.
FAQs
Find answers to common questions about our facilities and how to apply.
• Furniture and appliance purchases • Home renovations or extensions • General home upgrades • Rental Payments
Payments are deducted directly from the salary through an agreement between HDFC and your employer.
Yes, early repayment option is available.
Our goal is to process your application within 5 working days after receiving all required documents.
Yes. 1.5% of the approval amount is taken as the processing fee.
Applications must be submitted through our online Customer Portal.