Bank of Maldives has announced the reduction of its student Kiyavaa Loan and Education Financing rate to 5% effective 1st February 2023. The reduced rate is applicable for both new and existing facilities.
With the new lower interest and financing rate, the repayment period for existing customers will be automatically reduced. BML states that further details, as well as the option to pay a lower monthly installment, will be communicated to all existing Kiyavaa Loan customers.
We are delighted to bring positive changes to our student loan that will allow easier access to funding for students seeking further education anywhere in the world.
BML’s CEO and Managing Director, Karl Stumke commented,
The BML Kiyavaa Loan and Education Financing is available for students to cover 75% of the cost of education including tuition fees and other living costs and is offered with a repayment period of 10 years.
With a nationwide network of 38 branches across all 20 atolls, 84 Self Service Banking Centres, 142 ATMs, 277 agents and a full suite of Digital Banking services, Bank of Maldives is proving to be supportive of individuals, businesses and communities across Maldives.
