Bank AlBilad - Real Estate Financing “Dari”

Bank AlBilad

Features:

What are the features of the Real Estate Financing by Bank Albilad? 

Sharia-compliant financing service 

Competitive and fixed profit rate during the whole contract period

5% down payment for REDF and MOH beneficiaries 

10% down payment for all customers 

Financing period of up to 25 years

Up to SAR 5,000,000 financing amount

Available with no salary transfer for banks employees and approved sectors employees

Ability to apply for financing jointly with one of your first-degree relatives

Early settlement is available as per SAMA regulations

Bank AlBilad - Real Estate Financing “Dari” :


Flat Rate

The Annual Percentage Rate (APR) varies based on the amount and maturity period and is subject to the customer's credit history.

Down Payment

A down payment starting from 5% of the property value (for beneficiaries of the Real Estate Development Fund and the Ministry of Housing). Down payment starting from 10% of the property value (for all customers).

Monthly Payment

Minimum Salary

3,000 Saudi riyals

Fees & Cost

​Terms and Conditions

Open current account with Bank Albilad

Customer must be 20 years or older

Customer must be an employee of a public or private sector approved by Bank Albilad.

Customer's salary should be 3,000 SAR or more

Customer should be 70 years or younger when making the last payment

Real estate must be located within urban area

Required Documents

Customer Documents 
Valid ID 
ID copy for military employees
A letter from the customer's employer indicating: monthly salary (Basic and allowances), job title, date of employment
A statement of salary transfer from employer ( in case financed with salary transfer)
Real estate documents
Copy of the title deed
Copy of building permits 
Copy of owner ID
Sketch of property location
Filling “property information” form
Filling “financing” form
Terms & conditions apply

​FAQs

Is there any management fee? 

The management fee is 1% of the financing amount with cap of SAR 5,000. 

How the profit margin is calculated?

Here is an example of how the profit margin is calculated:

Home Financing ​

Real Estate value SAR 500,000 Finance amount 90% of real estate value Type of profit margin (Fixed or Variable) Fixed Rate 

APR 7.23% Management fees Management fees is 1% of the Financing Amount with Cap. of SAR 5,000 Finance duration 30 years Type of installments Funding principal and profit 

Monthly installment SAR 2,993.75 Early settlement The value of the remaining asset with an additional 3 months earnings

*Terms and conditions apply

The annual percentage rate varies based on the amount and maturity period and Subjected to the customer's credit history

Benefits:

Your first home is closer than ever!

We at Bank Albilad are keen to provide you with the best real estate financing solutions that meet your needs. With our Shariah compliant financing, you can now own your home with a convenient payment method and a financing period of up to 30 years! 

Apply Now!