Maldives 💰 MVR Last updated2026-05-28

Housing loan Calculator Maldives

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Quick answer (Maldives)

A MVR 2,500,000 housing loan at 8% over a 20-year term works out to a monthly payment of about Rf 20,911, with total interest of Rf 2,518,640 over the full term.

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Mortgage Calculator

USD

Home Value

LTV 80% · No PMI ✓

Loan Amount

Interest Rate

Term

Total Monthly

$25,078

PITI

Principal + Interest

$20,911

50% goes to interest

Total Interest

$2,518,640

over 20 years

Monthly Breakdown

Principal & Interest$20,911

Property Tax (1.1%/yr)$2,865

Homeowner's Insurance (0.5%/yr)$1,302

Total Monthly$25,078

Principal vs Interest Split

50% principal

50% interest

✨ Live recalculation·Includes P&I, property tax, insurance. Estimates only — consult a licensed lender for exact rates.

Reviewed by

Aisha Rahman, CFP®, MBA LinkedIn ↗

CFP® with 12+ years in mortgage & retirement planning.

Local context

Housing loans in Maldives

Typical loan

Rf 2,500,000

in Maldives

Typical rate

8% p.a.

prime borrower, 2026

Typical term

20 years

most common

Market overview

Maldives mortgages are dominated by the state-owned Bank of Maldives (BML — the largest bank by far), Maldives Islamic Bank (MIB), Housing Development Finance Corporation (HDFC Maldives — the specialist mortgage lender), Habib Bank Limited Maldives, State Bank of India Maldives branch and Commercial Bank of Maldives. HDFC, established 2004 with IFC/ADB participation, is the primary long-term home-finance institution. The Maldivian rufiyaa is managed within a horizontal band of 12.85-15.42 MVR/USD by the Maldives Monetary Authority (MMA), with the effective rate around 15.42 MVR/USD. USD home loans are common for foreign-employed Maldivians and the resort-industry workforce.

Why 8% is the typical rate

8% reflects a typical MVR housing loan from HDFC or BML for a salaried Maldivian borrower at 70% LTV in early 2026; MIB Islamic Murabaha home finance prices comparably.

Tax & regulatory notes

Land in Maldives is state-owned by constitution; private parties hold leasehold rights to plots and outright ownership of buildings. Property transfer fees and stamp duty are governed by the Land Act and MIRA regulations. There is no general capital gains tax on individuals, but Goods and Services Tax (GST) and Tourism GST apply to commercial property rentals. The Gedhoruveriya / Hiyaa social housing schemes channel state-subsidised flats in Hulhumalé to eligible Maldivians, with mortgages originated via HDFC and BML at preferential terms.

🧮 Worked example

A MVR 2,500,000 housing loan at 8% over a 20-year term

Loan amount

Rf 2,500,000

Annual interest rate

8%

Term

20 years (240 months)

Monthly payment

Rf 20,911

Total interest paid

Rf 2,518,640

Total paid (principal + interest)

Rf 5,018,640

❓ FAQ (Maldives)

Common questions in Maldives.

Can foreigners own property or land in the Maldives?

No — the Constitution restricts land ownership to Maldivian citizens (with a narrow, rarely-used exception for very large foreign investments above USD 1 billion). Foreigners cannot buy residential land or apartments outright. The market for non-Maldivian buyers is essentially limited to long-term lease of resort or commercial property under specific investment frameworks. Domestic mortgage products from BML and HDFC are only available to Maldivian nationals.

How do the Hulhumalé housing schemes (Hiyaa, Gedhoruveriya) work?

Hiyaa and successor schemes allocate government-built flats in Hulhumalé Phase 2 to eligible Maldivian families based on category-specific scoring (income, dependants, employment). Mortgages on allocated units are typically originated by HDFC at concessional rates with extended tenors, repayable over 20-25 years. Allocation is administrative rather than market-based; the mortgage finance layer is what makes the units affordable.

Islamic Murabaha vs conventional housing loan in the Maldives?

Maldives Islamic Bank offers Murabaha and Diminishing Musharaka home finance as Sharia-compliant alternatives to conventional BML and HDFC mortgages. Effective profit rates are broadly comparable (6.5-9%), and many Maldivian buyers prefer MIB on faith grounds. The legal structure differs — MIB buys the property and resells or co-owns with you — but the cashflow profile and tenor are similar.

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