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Housing Loans

Housing Loans

Our Housing Loans helps you construct your dream home while enjoying a repayment period of up to 20 years including construction/moratorium period.

Main Characteristics


Target Group:
  • Individuals, group of individuals (who are legally related) above 18 years of age and upto 60 years and who has steady source of income/ Govt employees.
  • Proprietorship/partnership firms /Companies, NGOs, Trusts, Societies, etc.
  • To construct house building for residential purposes and purchase of row houses/, apartment/flat, single unit or condominium apartments.
  • The property to be purchased should not be more than 20 years of age and should be in good condition.
Loan Amount
  • Minimum amount: MVR 300,000.00
  • Maximum Amount: No Limit.
Down Payment/ Margin:
  • 25% of project cost for construction of residential cum commercial complexes by owners of the land
  • 20% of the cost of flat/apartment
  • 1/3rd of project cost for construction of residential cum commercial building by lease right holder (land taken on long term lease) jointly with owners of the land.
Repayment Period:

Upto 20 years (including maximum construction period of 18 month).

Rate of Interest:

10 – 12% linked to State Bank Advance Rate

Repayment Ability:

Sufficient regular income to cover monthly repayment (EMI/NMI<50%)


Mortgage of land and/ or building/flat or apartment.