HDFC offers both Conventional and Islamic housing finance facilities with affordability, fexibility, Longest Repayment Period and highest quality of service in the Maldives.
Collateralize available balance at Retirement Savings Account as owner’s contribution at 10.42% PA
Salary Benefit Scheme
Monthly installment of income for the staff of organizations selected by HDFC.
Maximum deduction would be less than 60% of the salary.
Criteria
Applications can be submitted with a single applicant (single borrower scheme). However, applications will be accepted in the income eligibility requirement is met. This is for home purchase only.
Applications can also be submitted with co-applicant(s) who has a legal connection to the property by inheritance or marriage. In this case, income of main applicant and co-applicant(s) can be pooled together for the income eligibility requirement.
All co-owners to the property offered as security must be co-applicant or a legal consent is required.
Maximum age of an applicant for the income to be considered for repayment capacity is 65.
Owner/co-owner must be a major if not apply through a court assigned legal guardian.
Property offered for Mortgage:
Primary mortgage, on the property developed / purchased / renovated.
100% of the value of building must be insured by a reputed agency acceptable to HDFC.
Mortgage property value should have minimum 125% of the approved loan amount.
