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I want to make a payment. How to proceed? How do I settle payments without reaching to MFLC office?Currently, we are accepting online transactions only. You may transfer to our BML MVR account 7701134414003 via Internet or mobile banking and send the receipt to 9960066 with your name, ID Card number and source of funding
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Can I get a receipt if I settle payments via online transfer?No. We do not provide receipts on the spot for online transactions but we will acknowledge the payment immediately after payment settlement. If needed, we will provide facility statement after updating the payment.
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What is the amount for down payment to settle when we take a facility from consumer finance products or loan?Down payment is optional. However, client has to settle MVR 750 of documentation fee at the time of agreement signing.
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How do I apply for MFLC Lease and Loans?Application forms will be available from MFLC Head Office, hulhumale’ office and also can be downloaded from our website via the product page (Useful Downloads) section.: www.mflc.mv Submit the required documents to one of our branches (male’ or hulhumale’) or email all documents to apply@mflc.mv
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How long does it take to process a leasing facility/Loan?If all the required documents are in order, on average, it takes between three to five working days to process lease & loans.
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What is my maximum lease/loan amount?Maximum lease/loan amount can be determined based on last 06 months’ salary slips of the client
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How much is your funding limit?·Minimum 10,000 to 500,000/- (eligible amount depends on salary). Take home salary shouldn’t be less than half of the salary including the fixed allowances.
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What are the documents required to apply for a lease/loan?· Fully completed application form · Employment letter ( Original ) · Past 06 months’ salary slips ( with company seal) · Id card copies (both client and immediate family member) · Quotations ( for lease ) · Guarantor documents if required (id card copy, employment letter and 06 months’ salary slips) if facility exceeds MVR 250,000
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Do I have to attend to sign the agreement? If I cannot reach, what shall I do?The client must have to attend for agreement signing.
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Can I apply for two facilities at once?The client can have maximum 2 ongoing facilities at once. One must be a lease facility. The client cannot take 2 loans at once
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Where are we located?Head Ofiice in Male’ City: H. Filigasdhoshuge, 04th Floor, Ameer Ahmed Magu, Male’ Republic of Maldives Hulhumale’ City Branch: Tree Top Hospital Support Building, Lot 10608, Area G-SB-24, Orchid Maa Hingun, Hulhumale’
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What are the suppliers registered under MFLC?Most of the well-known suppliers/shops in Maldives are registered under scheme. Our stickers will be posted in outlets in Male’ as well as branches.
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What are the organizations registered under MFLC?Most of the government schools, organizations, institutions & atoll councils are registered under MFLC scheme.
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How much is the interest rate of a Faseyha Loan/ LeaseInterest rates are between 18% to 20% If the duration is between 6 to 12 months the interest rate will be 18% If the duration is between 12 to 36 months the interest rate will be 20%
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When does the asset get transferred to the client/lessee’s name?At the end of the lease and upon fulfilment of all the obligations under the lease, the asset is transferred to the lessee for a nominal fee.
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How can I contact MFLC?You can contact us from our land line number 3315605/3315606 For any requests or any information you can communicate with us via info@mflc.mv
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What are the services provided by MFLC?MFLC is primarily a Finance Leasing company that provides full pay-out finance leases for movable assets, usually, to be used for existing businesses. In addition, our product line includes, Micro-Leases and Insurance Premium Financing (IPF).
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How many months can lease/loan up to?Can lease/loan from a period of minimum 06 months and up to a maximum of 60 months depending on salary.
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