Features:
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.
The Saudi Investment Bank - Home Equity :
Flat Rate
7.40%
Down Payment
Monthly Payment
Based on the amount and maturity period.
Minimum Salary
SAR 0
Fees & Cost
1% of finance amount or SAR 5,000 (whichever is less)
Fees & Costs:
Administration Fee: 1% of finance amount or SAR 5,000 (whichever is less)
Requirements:
Service period
Government Sector: 3 Months and private Sector:
12 Months
Documents required:
• 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.
Eligibility:
• For Saudi nationals only
• Age: Minimum is 23 years, Maximum (at maturity) is 70 years
• Salary Account with The Saudi Investment Bank
Benefits:
• 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.