Bank of Maldives (BML) has officially increased the maximum age limit for loan eligibility to 75 years. This policy revision, which previously restricted loan facilities to individuals under the age of 60, is designed to provide middle-aged customers with greater flexibility to secure long-term financing for housing and other essential needs.
In addition to this change, the bank has introduced a specialized arrangement for individuals earning an income in US Dollars. This facility allows eligible borrowers to access loans at lower interest rates, with the provision that repayments are made in USD.
According to the latest figures, BML has disbursed over MVR 5 billion in loans so far this year. This reflects a substantial 50% increase in lending volume compared to the previous year.
