Standard SAIB loan administration fees. (1% of the finance amount up to a maximum SAR 5000) will apply. 

Service period: 

For Government Sector: 1 months with current employer 

For Private Sector: 3 months with current employer 

Minimum Property size = 80 square meter 

Kindly note that all finance facilities are subject to SAIB credit approval and SIMAH (Saudi Credit Bureau) verification. 

• Be a Saudi Citizen 

• Be at least 20 years of age. 

• Maximum age (as at maturity of the Finance) of 70, Considering the retirement age of the military personnel 

• Work for an employer included in the Bank’s approved list. 

• For joint finance, both the borrower and co-borrower must assign salary to an account with The Saudi Investment Bank 

• The customer must have a salary account at The Saudi Investment Banka

ALASALAH Murabaha Home Finance is an Islamic home financing product approved by SAIB’s Shariah Committee. The Murabaha is a contract wherein the bank buys the property, based on your request and subject to a monthly payment plan and a fixed profit rate for the whole financing period. The Bank will release mortgage on the property once all monthly payments have been paid.

Al ASALAH home finance is available for completed (Villas, Apartments, Doplex) and land (ready for occupancy) and lands within urban areas only.

Finance duration: 5:30 Years

Finance amount: 250000 SAR : 7000000 SAR

Completed Properties

Finance available for completed properties (Villas, apartments, Duplex) and land.

Sponsor

Guarantor not required.

Down Payment

Minimum down payment 10% For the first property purchase price or 30% for the second property or more.

WooW Points

WooW points which you can redeem against various unique gifts, gift cards, travel miles, cash and much more from WooW e-catalog

Takaful Life Insurance

Free Takaful life insurance coverage against death or permanent disability without any medical test for finance up to SR 2,500,000.

Administration Fee: 1% of finance amount or SAR 5,000 (whichever is less) 

Service period

Government Sector: 3 Months and private Sector: 12 Months 

• Valid ID Copy. 

• Fill required forms by the Bank. 

• Salary assignment letter to The Saudi Investment Bank. 

• Introduction letter from employer which includes salary, allowance details, and date of joining. 

• Other documentation will be required in regards to the property (Varies based on the property type) 

• For more information please call our toll free number at 800 124 8000.

• For Saudi nationals only 

• Age: Minimum is 23 years, Maximum (at maturity) is 70 years 

• Salary Account with The Saudi Investment Bank

A product that enables the customer who owns a property (Villa – Apartment – Land) to obtain financial liquidity against the property and pledge the property as collateral to The Saudi Investment Bank with easy repayment options. 

• No down payment required. The property value will be considered as a down payment. 

• Finance Amount: SAR 350,000 – SAR 7,000,000 .

• Payment Period: 60 – 360 months. 

• End-to-End digital application (through mobile application). 

• Shari’ah compliant (based on Murabaha). 

• WooW points. 

• Free Takaful Life Insurance coverage against death or permanent disability – God Forbid. 

• Free Takaful Home Insurance coverage against disasters, such as fires, floods, storms, earthquakes, and others that arise to such damage.

Eligibility Criteria:

• Saudi nationals (men and ladies)

• Minimum and maximum age of applicant: 20 years – 75 years

• Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists

• Employment: Employees of government, semi-government, military and private sectors (Bank’s approved list of companies)

• Service period:

• For Government Sector: No minimum period of service required

• For Semi – Government: 3 months maximum

• For Private Sector: 3 months with current employer

• Applicant must open a Salary Account with SAIB and assign salary

• Minimum Property size = 80 square meter

Profit Amount

Subsidy on the profit amount by REDF for finance amount up to SAR 500,000 (subject to REDF’s criteria)

Down Payment Requirement

Down payment requirement (10% for first house, or 30% for any additional property)

Life Coverage

Free Takaful life coverage against death or permanent disability –God forbid- without any medical test for finance up to SAR 2,500,000

Shariah-compliant

Property Insurance

Free Takaful property insurance coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages

Debt Burden

Maximum debt burden ratio (DBR) is 65% out of the gross income

Required Documents

• Filled finance application form

• Introduction letter from employer

• Salary certificate from employer or last salary slip)

• Copy of employee ID card specifying rank/position (for armed forces, if applicable)

• Account statement of 3 months, showing last 3 salaries and verified by the bank

Eligibility Criteria

• For Saudi nationals only

• Age of Applicant: Minimum age is 20 years and maximum age at maturity is 70 years

• Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists

• Applicant must open an Account with SAIB and assign salary

• If the amount of first tranche of 15% is higher than the land value, the lesser amount will be taken.

• Employment: Retirees and employees of government, semi-government, military and private sectors (Bank’s approved list of companies)

• Service period:

 For Government Sector: 1 month with current employer

For Private Sector: 3 months with current employer

Shariah compliant financing, based on Commodity Murabaha.

Down payment

The customer is not required to pay a down payment in cash. The land value will be considered as down payment.

Financing amount will be 90% of the land value + future construction value (for first house).

REDF Coverage

REDF will cover profit portion of the finance up to a maximum finance amount of SAR 500,000 through Madoom Program.

Takaful Life Insurance

Free Takaful life coverage against death or permanent disability, God forbid, without any medical test for finance up to SAR 2,500,000.

Property Insurance

Free Takaful Property coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages.

Debt Burden

Maximum debt burden ratio (DBR) is 65% out of the gross income.

Disbursement Schedule

Disbursement Schedule as follows: 15% upon commencement of construction, and subsequently 25%, 25%, 35% (provided that construction should be completed within of 36 months of financing disbursal).

Required Documents:

• Filled finance application form

• Copy of National ID

• Introduction letter from customer’s employer

• Construction plan

• Copy of land title deed

• Salary transfer letter

• Account statement of the last 3 months showing last 3 salaries, verified from the previous bank

• Copy of the “Work ID Card” specifying rank/position (to be taken post sighting of the original), if any

Eligibility Criteria

For Saudi nationals only

Age of Applicant: Minimum age is 21 years and maximum age at maturity is 75 years

Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists

Employment: Employees of government, semi-government, military and private sectors, and retirees (Bank’s approved list of companies)

Service period:

For Government Sector: No minimum period of service required

For Semi – Government: 3 months maximum

For Private Sector: 3 months with current employer

Applicant must open a Salary Account with SAIB and assign salary

Murabaha principle

Down payment coverage by REDF

Down payment coverage by REDF up to 5% through Moyassar Program

Coverage of finance profit based on RDEF support Matrix

REDF will cover profit portion of the finance up to a maximum finance amount of SAR 500,000 through Madoom Program

Takaful Life Insurance

Free Takaful life coverage against death or permanent disability, God forbid, without any medical test for finance up to SAR 2,500,000

Property Insurance

Free Property Takaful coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages

Debt Burden

Maximum debt burden ratio (DBR) is 65% out of the gross income

Payment Base

Project Payment is based on project construction progress which is approved as per developer’s contract

Roshn Group and Talaat Moustafa Group

You can now apply for off-plan property products from Roshn Group and Saudi Arabia Talaat Moustafa Group.

Required Documents

• Filled finance application form

• Introduction letter from employer

• Account statement of the last 3 months showing last 3 salaries, verified from the previous bank

• Copy of the “Employee ID Card” specifying rank/position (to be taken post sighting of the original) – for armed forces, if applicable

• Salary certificate from employer or last salary slip

• Copy of the construction Contract between the customer and the developer

• Developer Quotation addressed to the Bank

Eligibility Criteria

• For Saudis only

• Age of applicant: minimum 21 years and maximum 70 years at maturity.

• Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists.

• Employment: Working for an employer included in the Bank’s approved list of companies, retirees from the government, military or private sector.

• Service period:

 For Government Sector: 1 month with current employer.

 For Private Sector: 3 months with current employer.

 Applicant must open a Salary Account with SAIB.

Shariah compliant financing

Shariah compliant financing, based on Commodity Murabaha

No down payment

The customer is not required to pay a down payment in cash. The land value will be considered as down payment.

REDF Coverage

REDF will cover profit portion of the finance up to a maximum finance amount of SAR 500,000 through Madoom subsidy Program.

Takaful Life Insurance

Free Takaful life coverage against death or permanent disability –God forbid- without any medical test for finance amount up to SAR 2,500,000.

Property Insurance

Free Takaful property coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages.

Debt Burden

Maximum debt burden ratio (DBR) is 65% out of the gross income.

Required Documents

• Filled finance application form

• Copy of National ID

• Introduction letter from customer’s employer

• Letter from MOH addressed to The Saudi Investment Bank specifying the price.

• Salary transfer letter

• Account statement of the last 3 months showing last 3 salaries, verified from the previous Bank for private and military sectors only

• Copy of the “Work ID Card”specifying rank/position (to be taken post sighting of the original) – this is apply for armed forces as well (if applicable).