Features:
What are the features of the Real Estate Financing Buyout by Bank Albilad?
Sharia-compliant financing service
Competitive and fixed profit rate during the whole contract period
Financing period of up to 25 years
Up to SAR 3,000,000 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 Buyout by Bank Albilad :
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
Monthly Payment
Minimum Salary
3,000 Saudi riyals
Fees & Cost
Administrative fees are 1% of the financing amount, not exceeding 5,000 riyals
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
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 earningss
*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:
Worried about your variable interest rate of your home financing?
Now with Bank Albilad you can settle your existing financing that you have with any other bank by getting a new real estate financing from Bank Albilad with a fixed profit margin and fixed instalments!
Apply Now!