V Lease

“V LEASE” – Building Pathways to Your Destination

At MFLC we understand that a vehicle is a part of your life. Whether it is needed for generating additional income, to use in a business or for personal use we are there to help you to get the vehicle of your choice.

Competitive Advantage

  • No Security Required (only leased asset will be registered under MFLC’s name until the lease is paid in full)
  • Lower monthly repayments
  • Lease assets will be covered by insurance

Vehicles Considered

  • Cars, Pickup and Lorries are considered for leasing
  • Vehicles to be used in Male’, Hulhumale’ and Villingili Only
  • Vehicles which are not more than 5 years old from the date of manufacture
  • Newly imported and unregistered

Main Features

  • Eligible for Maldivians only
  • applicant should be aged between 18-60years
  • Repayment period from 6 months to 36 months
  • Maximum funding limit MVR 300,000/-
  • For Taxi’s – applicant should own a Taxi board
  • A personal guarantor is required.

Documents required for Individuals

  1. Completely filled application form Application form
  2. National Identity card of copies
  3. Bank statements for the last 6 months
  4. Employment letter (if employed)
  5. All of the above documents of the guarantor
  6. Proforma invoice/Quotation from Supplier
  7. Valuation Report

Documents required for Companies and Registered Businesses

  1. Completely filled application form Application Form
  2. Memorandum & Articles of Association/Partnership Agreement
  3. Copy of Certificate of business registration/Incorporation
  4. Audited Financial Statements for the last 3 years
  5. Details of Directors (ID copies,assets,liabilities)
  6. Draft accounts for the current year up to the last available month-end
  7. Proforma Invoice/Quotation from Supplier
  8. Project report or feasibility