Maldives Islamic Bank (MIB) has expanded its Ujaalaa Hiya home financing facility with the lowest financing rate.
MIB's Ujaalaa Hiya Facility is a facility introduced by the bank to provide convenience to those who wish to purchase flats, row houses and houses (completed and under construction). The financing (rental) rate of Ujaalaa Hiya is between 9% and 11% per annum.
Apart from this MIB will also grant a 3 month grace period for those who purchase via MIB. This will be very beneficial as the customer will be required to purchase furniture and other household items for their new apartments.