Yup there will be rainy... but I think it's still likely to be sunny for a good part of a day .....maldieves will be busy in Feb with summer.. and in Thailand there will be end of summers .. probably in Thailand there will be very less or no rainfall ..so you can think of Bali if you like rainy season or go for Thailand.. will be less busy then Maldives...
If you are thinking of Maldives, I would suggest clubbing Sri Lanka with it. In Maldives 2N/3D is more than enough as any property you chose is a private island. Sri Lanka would be great for its hill stations like Kandy and Nuwara Eliya. Plus its pocket friendly. That way your trip will be a great combination of hill stations, beaches and fit in the budget too.
You can go for Bali it will cost around 1 lakh including private pool villa in the itenary.Experience with the private pool villa in Bali is must try as the pool villas are mostly situated in ubud with lush greenery around and a very pleasant atmosphere.Please are very friendly and helpful.
Bali : Good place with lots of different places to explore. You have beaches, islands and mountain region of Ubud and many unique temples and most importantly experience Bali culture. The Balinese are one of the most hospitable people and everyone welcomes you with respect and smile. Feb is a wet season for Bali with moderate rains. If that isnt an issue, this can be a great place. Everything.. from stay to food to attractions n tours are cheap. Only issue can be transportation within city esp in Ubud. If you know to ride a two-wheeler it will be a boon. Do stay at a Private Villa atleast for 2 Nights ! You can split stays at Seminyak/Kuta and Ubud. Thailand : Its also a cheap country for Indians. For honeymoon, do explore places like Phuket/Koh Samui/Krabi and spend less time in Bangkok/Pattaya. I dont have much idea abt the cost of stay at these places but shouldnt go over 1.5 lakhs. Also depends on the activities. Maldives : Maldives is an exotic place and beautiful but for 2-3N. The water villa experience is wonderful but can set you back in terms of money. Everything else is expensive too. Maldives is good for a short trip, white sand beaches, bluest of seas and water activities but all at an expense.
Bali is definitely beautiful, but rains may hinder your plans of travel and water activities. Maldives is tricky with crowd during your time of travel and is expensive. Thailand is the best option considering the time and one week is ample to spend couple time out there. Avoid the crowded places like Bangkok, Pattaya and other touristy destinations. Me and my husband had great time around less touristy islands - Koh Lanta, Similan & Tachai Islands... Have a great time. If you want more information, connect with me @ourlifeoutsidecubicle in Facebook or @lifeoutsidecubicle in Instagram. Will be happy to help you with any planning or questions.
I would recommend Maldives on number one and Thailand on number two, both the places can be covered at less than 2 lakhs with a premium hotel and lots of places to see. You could even think of luxury on Thailand because it is quite cheap in terms of food.