HDFC grants a six-month extension on housing loans

Housing Development Finance Corporation (HDFC) has granted a six-month extension on its housing loans.

The decision was announced by President Ibrahim Mohamed Solih during a press conference at the National Emergency Operations Center this evening.

The loan extension is effective from this March, on all housing loans issued by HDFC, said the President.

Those wish to apply for the loan concession have been instructed to file a formal application with the corporation.

The decision by HDFC follows six-month loan extensions by Bank of Maldives (BML).

Students will also receive a six-month extension on their student loans, said the President at Wednesday’s press conference.

The Maldivian government has announced a MVR 2.5 billion economic stimulus package to mitigate the economic impact of the COVID-19 pandemic.