Mortgage

Gulf International Bank - Home Finance

Flat Rate

%6.78

Down Payment

Monthly Payment

300 Month

Minimum Salary

3500 SAR

Fees & Cost

1% with a maximum of SAR 5,000 (whichever is lower)

Fees & Costs

*Administrative fee of 1% with a maximum of SAR 5,000 (whichever is lower)
* Late payment fees 250 Saudi riyals and the calculated late payment fees are donated to charitable work on your behalf, in accordance with the directions and supervision of the Sharia Supervisory Board.

Documents required

* Employment Certificate

* Account statement for the last 3 months

* National address or employee card

* Family Card

* National Identity

* Electronic certificate from the Public Pension Agency

* Electronic certificate from the General Organization for Social Insurance

* A copy of the owner's ID

* Certificate of ownership of the property (Kraoke)

* A copy of the building permit

* A recent copy of the utility bill (electricity, water, communications)

* A copy of the unit sale offer


Eligibility

* Applicants should be Saudi nationals 

* Applicant’s age at the time of finance should not be less than 21 * years and not exceed 68 years of age upon expiry of the finance period 

* Applicants should be employed for a minimum 3 months with their current employer 

* Minimum basic salary SAR 3,500 

* Salary should be assigned/transferred to meem 

* The property must be situated in the Kingdom of Saudi Arabia


Features:

* 100% integrated digital journey, including electronic title deed transfer

Real estate financing based on the principle of Murabaha

* Flexible installment plans of up to 35 years to suit your needs

* Financing up to 5 million riyals

* Competitive profit margin rates plus an annual percentage rate starting from only 4.68%

*Administrative fee 1% or 5,000 SAR (whichever is lower)

* Live with complete peace of mind with insurance coverage provided by meem digital banking

* Insurance that covers the risks that the property may be exposed to from accidental damage or destruction

* Free credit advisory services during the application journey to help you make an informed and effective decision for you!

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