Moneytreme is only providing documents for loan application.
The information below is sourced from HDFC Amna (hdfc.com.mv) and is provided for informational purposes only.
HDFC Islamic Financing
Shari'ah-compliant housing finance from HDFC Amna — Musharaka Muthanaqisa (land & construction, and purchase of housing unit) and Murabaha (home improvement), with complete segregation of funds and oversight by the Shari'ah Supervisory Board.
Visit HDFC AmnaAmna Financing Solutions
Three Shari'ah-compliant products for housing finance
Purchase of Land & Construction
Musharaka MuthanaqisaDiminishing partnership (Musharaka Muthanaqisa) for purchasing land and constructing a home.
Purchase of Housing Unit
Musharaka MuthanaqisaDiminishing partnership (Musharaka Muthanaqisa) for purchasing a completed housing unit.
Home Improvement
MurabahaCost-plus financing (Murabaha) for home renovation or extension.
Eligibility Criteria
- All co-owners to the property offered as security must be co-applicants, or a legal consent is required.
- Must have a minimum of one co-applicant with a legal connection to the property (by inheritance/marriage); 40% of the pooled income is considered for EMI, or an independent guarantor acceptable to HDFC.
- Maximum age of an applicant for income to be considered for repayment capacity is 65.
- Owner/co-owner must be of legal age, or apply through a court-assigned legal guardian.
- Primary mortgage on the property being developed, purchased, or renovated.
- Building insurance covering 100% of the property value through a reputed agency approved by HDFC.
- Mortgage property value must be at least 125% of the approved loan amount.
Application Process
Online Application
Submit your architectural plans, construction contract, and financial documents through the HDFC portal.
Valuation & Approval
HDFC performs an "as-if-complete" valuation and reviews your builder's credentials for final approval.
Closing & Disbursement
After closing, funds are released to your builder at each completed milestone of the construction.