As per the new changes introduced by Bank of Maldives (BML) to its Green Loan, eligible customers can borrow from MVR 50,000 to MVR 500,000 without any additional security for a 5-year tenor at an interest rate of 12%. This is lower than the standard interest rates for the Bank’s unsecured loan products.
BML statement reads that the personal and business customers seeking to borrow funds for larger investments up to MVR 20 million in value, the interest rate of the secured Green Loan has been further decreased to 10%. This is available with its own equity contribution of 15% and an extended tenor of 20 years.
BML states that this is a step taken in a series of measures to offer better value for its customers, as this change allows individuals and businesses to affordably create a more sustainable community.
The Green Loan is available for renewable energy projects such as solar power generation or the purchase and for investments in energy-efficient products.
BML statement reads that the personal and business customers seeking to borrow funds for larger investments up to MVR 20 million in value, the interest rate of the secured Green Loan has been further decreased to 10%. This is available with its own equity contribution of 15% and an extended tenor of 20 years.
BML states that this is a step taken in a series of measures to offer better value for its customers, as this change allows individuals and businesses to affordably create a more sustainable community.
The Green Loan is available for renewable energy projects such as solar power generation or the purchase and for investments in energy-efficient products.
