MFLC

Direct Lease – Anyone can lease

Direct Lease – Anyone can lease

Direct Lease is an opportunity available for individuals who are employed, rent income earners and entrepreneurs. MFLC offers Consumer Goods, Motorcycles and construction materials under a monthly installment scheme for this product. Eligible individuals can obtain goods by submitting quotation(s) (from any registered suppliers for the schemes) along with other required documents. The lease rentals are structured on an agreed monthly installments for which dated cheques will be obtained or standing order should be provided to MFLC through any bank.

Main Features

  • Funding amount from MVR 10,000 to 100,000
  • Repayment period from 6 months to 12 months for Consumer Durable
  • Repayment period from 6 months to 36 months for Motorcycles
  • 10 % of Finance amount should be paid upfront
  • Guarantor is required

Benefits

  • Product is available for everyone.
  • Facility granted within 3 working days
  • Wide range of suppliers to choose from

Eligibility

  • Maldivian aged between 21 to 60 Years
  • Minimum 3 years of continuous employment with current OR
  • Should earn rent income OR
  • Entrepreneurs – should be in business for minimum 3 years.
  • Should earn a minimum monthly salary/income of MVR12,000/-

Documents Required

  • Completely filled application form.
  • Copy of National Identity Card
  • Employment letter stating the date of commencement, designation and salary details.
  • Quotation(s) from registered supplier for the scheme.
  • Salary slips of last 3 months
  • Confirmation letter stating the relationship between the client and the place where client plans to renovate.

The following documents of the guarantor need to be submitted along with the application form.

  • Guarantor information on the application form to be filled
  • Copy of National Identity Card of the guarantor
  • Employment letter stating the date of commencement, designation and salary details of the guarantor

Payment Option

  • Post Dated Cheques
  • Standing Order through banks