Introduction to Bank of Maldives PLC (BML Bank of Maldives PLC (BML) is the biggest commercial bank which is operated in Maldives and they serve the entire Maldives with the largest banking network system. Over 250000 thousand customers, 66 ATMs in 19 atolls, cash agents in 95 islands, 3500 POS machines, 2000 dhoni banking trips, 16000 pension payments, over 8 billion loans to individual and business, 600 million government loan scheme and over 839 jobs with 1/3 in atolls BML provides modern banking services and products to meet the customers’ expectations to fulfill their financial requirement. The company was formed in 11th November 1982 as a joint venture with Government of Maldives holding 60% of shares while the International
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With an interest percentage of base rate + 2.50% (Current base rate is 9%) per annum vessel finance loans are provided for the eligible customers with 7 years (84 months) as the maximum tenor period. Bank of Maldives will finance 70% of the project and customers should contribute the remaining 30% of the project from their own funds. For example, if a customer wants to buy a fishing vessel costing MVR100,000/-, Bank of Maldives will finance MVR70,000/- of the project while the remaining MVR30,000/- needs to be invested by the customer. Moreover, in Vessel Financing Loan the vessel needs to be mortgaged at the bank along with an immovable asset such as land or building. The mortgage securities offered by the customers also have to be insured by the customer for a minimum of 01 year period. Customers need to fill a Vessel Financing Loan application and they need to submit an employment letter or justification of sources of income, registries of the mortgage facilities, valid ID copy (ies) and quotation or a budget stating the details of the
With an interest percentage of base rate + 2.50% (Current base rate is 9%) per annum vessel finance loans are provided for the eligible customers with 7 years (84 months) as the maximum tenor period. Bank of Maldives will finance 70% of the project and customers should contribute the remaining 30% of the project from their own funds. For example, if a customer wants to buy a fishing vessel costing MVR100,000/-, Bank of Maldives will finance MVR70,000/- of the project while the remaining MVR30,000/- needs to be invested by the customer. Moreover, in Vessel Financing Loan the vessel needs to be mortgaged at the bank along with an immovable asset such as land or building. The mortgage securities offered by the customers also have to be insured by the customer for a minimum of 01 year period. Customers need to fill a Vessel Financing Loan application and they need to submit an employment letter or justification of sources of income, registries of the mortgage facilities, valid ID copy (ies) and quotation or a budget stating the details of the