Bank of Maldives (BML) has announced over USD 71 million was issued under its personal loan portfolio, so far.
Speaking regarding the positive changes brought to the BML loan portfolio, Public Relations Manager Mohamed Saeed said while over USD 71 million was issued as loans, over 44-thousand customers have requested for loans. Saeed stated personal loan is the product most in demand. He expressed while the number of customers taking loans have increased, the paying back rate is also high.
Furthermore, Senior Manager, Retail Banking Badhrudeen Hassan revealed the new changes will ease the process. BML has announced positive changes to its personal loans portfolio to meet the growing demand of customers for greater flexibility in borrowing.
With the changes to the Lui Express loan scheme, customers can now borrow up to USD 19,300 and enjoy an extended repayment period of 5 years. Available for salaried customers who regularly deposit salaries to their accounts, the Lui Express loan scheme does not require additional security or own contribution.