Features:
What are the differentiating features of the self-build financing?
Sharia-compliant financing service
0% down payment
The first payment can be up to 90% of the real estate value
Financing period of up to 25 years
Financing amount up to SAR 3,000,000
Available with no salary transfer for banks employees and approved sectors employees
Available to retired customers also
Bank AlBilad - Self-Build Financing :
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
0
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
Available only to REDF and MOH customers
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
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:
Self-build Financing Real Estate value SAR 500,000 Finance amount 90% of real estate value Type of profit margin (Fixed or Variable) Fixed Rate APR 6.70 % Management fees
Management fees is 1% of the Financing Amount with Cap. of SAR 5,000 Finance duration 25 years Type of installments
Funding principal and profit
Finance Amount
450,000.00 SAR
Monthly installment 3,093.75 SAR
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