Credit Facilities, News

HDFC Launches 20th Anniversary Promotion

HDFC commences a promotional activities on the occasion of its 20th Anniversary, from Islamic Fund!

Housing Development Finance Corporation PLC, HDFC commences its promotional activities to mark its 20th Anniversary, through its Islamic Wing from the Islamic Fund. This promotion is aimed at giving an all-time low rate offered by HDFC and reduces prominently on some of  its fees and other charges.

Changes during Promotion

Home Construction: Normal Rates: 11.25%  – 12.50%
                                Promotion Rates: 10.75%  – 11.25%

Home Purchase: Normal Rates: 11.25%  – 12.50%
                         Promotion Rates: 10.42%  – 10.50%

Home Renovation: Normal Rates: 11.25%
                             Promotion Rates: 10.75%

In addition, application fees for the above facilities have been waived. The processing fee, which is normally at 1% of the facility amount has been reduced to 0.75% during the promotion, which will continue from Jan 1st to Feb 29th, 2024.

Over the last 20 years, HDFC has managed to reach out to over 3000 Maldivians in their aspirations to create a home . The company has managed to reach MVR 1.6 billion of Portfolio value by the end of Quarter 3 of 2023. At present, HDFC offers 25 years tenure for housing finance products or construction and purchase, while for renovation, the tenure is 10 years.

Application form with documents can be submitted in-person to HDFC Office, 3rd Floor, H. Mialani, Sosun Magu, Male’.