MFLC

Salhi Lease

Salhi Lease is for employees of registered organizations, to lease Consumer Durables and construction materials worth of MVR200,000 up to a term of 24 months. Eligible individuals can obtain leases 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 which will be deducted from the monthly salary by the employer and sent to MFLC.

Main Features

  • Funding amount from MVR 60,000 to 200,000
  • Repayment period from 6 months to 24 months for Consumer Durable & Construction Materials
  • Total deduction from salary should not exceed 50% of the take home pay

Benefits

  • No Down Payment
  • Facility granted within 3 working days
  • Wide range of suppliers to choose from
  • Any movable asset and construction material can be obtained.

Eligibility

  • Maldivian aged between 23 to 60 Years
  • Have been in continuous employment for last 5 years (in a supervisory level or above) with a registered employer with MFLC.
  • Total deduction from salary (including other banks & financial institutions) should not exceed 50% of the total take home pay (basic salary plus other allowances)

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 supplier(s) registered for the scheme.
  • Copy of National Identity Card  of the Guarantor
  • Employment letter of the Guarantor

Payment Option

  • Salary Deduction Only