Buy Now, Pay Later

Our new and improved Ujaalaa Dhiriulhun is most in demand consumer goods in the market. It is designed to assist individuals to purchase lifestyle consumer goods. You can purchase goods of a wide variety such as phones, electrical goods, furniture, kitchen ware, construction materials and much more. This facility is based on the Islamic finance concept of Murabaha. You can apply for the Ujaalaa Dhiriulhun facility if you’re employed with an employer accepted by the bank, or if you are a rental income earner. Payments can be made via salary deduction directly in partnership with your employer.

Maximum Financing Limit of MVR 400,000 Lower rates for salary transfer and rental income transfer to MIB (income should be verifiable for the last 12 consecutive months) Flexible payment period of 18 months to 48 months Motorcycle facility is now integrated

Applicant must be a Maldivian with valid a identification card Age must be from 18 years onwards Living and working in Maldives Must be employed for the past 6 months and has been in employment with current employer accepted by the Bank for the last 3 consecutive months or; An individual earning rental income would also be eligible for the facility if the rental income record for past 12 consecutive months to his/her MIB account is verifiable An individual who has been maintaining his/her salary account with MIB and has the record of salary income for the last 12 consecutive months would also be eligible for the facility

• Duly filled and signed Application Form
• Copy of National Identity Card
• Employment letter stating the type of employment (permanent/contractual), date of commencement, history of salary deduction including basic salary, fixed allowances, variable allowances and deductions.
• Bank statement for last 6 months
• Salary slips of last 6 months
• Documents required from the guarantor:

1. Copy of National Identity Card
2. Employment letter stating the type of employment (permanent/contractual), date of commencement, history of salary deduction including basic salary, fixed allowances, variable allowances and deductions
3. If not employed by an accepted employer – 03 month bank statement
4. If guarantor receives rental income then please submit the following:-

• Rental Agreements
• Bank Statement (06 months)
• Copy of title/utility bill

Please follow this link to view more details on MIB's website

MFLC provides a broad range of leasing solutions to suit customer’s lifestyle requirements. We all have material requirements to fulfil our lifestyle needs and most often, such requirements come as a surprise. Avoid the inconvenient surprises and choose MFLC Lifestyle Lease for acquisition of motorcycles or a wide range of consumer goods available from registered suppliers. If you are an eligible employee of an approved organization, we welcome you to explore our leasing options for a convenient and flexible financial solution.

Funding

Finance above MVR 10,000/- to a limit of MVR 100,000/-, where eligible

Repayment Schedule

Enjoy repayments to 24 months (2 years), based on qualifying income

Insurance

Applicable for combination of various suppliers

• Individuals shall be serving the Approved Employer or declared affiliate for 2 years to qualify
• Employment verification letter and Salary Slips shall be stamped outlining the registration number and endorsed by Human Resource (or relevant) function) of Approved Employer
• For requests below MVR 60,000/- applicant to provide contact details of an immediate family member and their National ID Card details, obtained and declared with their consent
• Requests above MVR 60,000/- to include a Guarantor, for which consent and approval shall be obtained to provide their i) ID Card, and ii) Employment Letter & iii)Last 6 Salary Slips, stamped.
• Quotations to be provided from MFLC registered suppliers

• Individuals, should have completed 2 years of service with registered employer
• Qualifying income determined by breakdown of 6 months’ salary slip
• Employment shall be with an Approved Employer accepted by MFLC

Apply through submitting a completed Application Form (Except signatures and date) Submit National ID Card, along with stamped Employment Letter and Salary Slips Present quotations from registered suppliers for consumables to be acquired Sign the Lease Agreement – understand the terms and conditions offered by MFLC Receive your goods based on issued Purchase Order from MFLC

Please follow this link to view more details on MFLC's website

With our American Express credit cards, you can also take advantage of our easy installment plan – BML EasyPay to pay for goods on installments at participating merchants.

• Interest Rate at 5% Equal limit as current credit card limit
• Purchase goods through EasyPay at selected retailers
• Choose to pay in easy installments of 3,6,12,18, or 24 months
• Installment Amount billed to Credit Card Statement

BML EasyPay is an installment payment plan for American Express credit cardholders with satisfactory repayment history. You can purchase goods on installment, up to your card limit, while continuing to use your card for other purchases. To activate EasyPay Limit, send us a request via Internet Banking or contact our 24 hours call centre on 3330200

Please follow this link to view more details on BML's website

Get unsecured financing for your personal financing needs with our Shari’ah complaint Personal Financing facility. Our product is designed to offer you financing for goods purchased via Authorized Dealers or just cash based on your requirement. The facility is provided under 2 categories:

• BML Islamic Personal Financing – for salaried individuals and those who receive retirement pension from a government office (excludes pension given for senior citizens)
• BML Islamic Personal Financing (Micro) – individuals who do not earn fixed salary

• Financing is available from MVR 20,000 to MVR 300,000 at a rate of 15% p.a.
• For BML Islamic Personal Financing (Micro), enjoy up to MVR 25,000 at a rate of 12% p.a.
• Financing period is up to 5 years and no further guarantee or security is required
• Financing will be approved within 1 day for applicants whose salary is routed via salary code.
• Processing fee will be charged as below:

1. Processing fee for Personal Financing: 1 % of the amount
2. Processing fee for Personal Financing (Micro): 0.5 % of the amount

• Applicable for Maldivians aged between 18 and 60 years
• For salaried individuals employed for the past 12 months (must be employed with the current employer for past 3 months)
• Other than salary, customer’s receiving Retirement Pension Benefits due to early retirement from Government will be eligible.
• Salary must be deposited to any bank for 12 months and minimum 1 month to your BML account.
• Customers who have an existing BML conventional Lui Express, Lui Professional or Lui loan is eligible to apply and facility will be approved within 5 days from application submission.

Individuals who do not earn fixed salary are eligible for BML Islamic Personal Financing (Micro), Below are the Eligibility for BML Islamic Personal Financing (Micro):

• Applicable for Maldivians only, aged between 18 and 60 years
• Income must be routed to any bank account for past 6 months and most recent month’s income must be routed to your BML account
• Income from all sources such as salary, business income, rental income, and Retirement Pension Benefits due to early retirement from Government will be considered

• If you are registered for BML Internet Banking, apply through “Services” tab from Browser or through ‘Applications’ from Mobile Banking App.
• Customers also can submit BML Islamic Personal Financing application by visiting BML Islamic Male’ branch or any other Branch located outside of Male’.
• Our BML Islamic Male’ Branch and Branches outside Male’ are open from 8:30am to 2:00pm, Sundays to Thursdays (except public holidays).

Please follow this link to view more details on BML's website