BML Eases Loan Rules

CEO Mohamed Shareef said the bank raised the eligibility age from 60 to 75, allowing more people to access financing. Individuals above 55 can also apply, with repayment periods of up to five years.

The bank is offering reduced rates for customers who repay loans in US dollars. This includes a 1.5 per cent cut in interest rates and a 5 per cent reduction in equity requirements.

Officials said the move targets resort workers and Maldivians earning abroad, making it easier to purchase housing in the Maldives.