Features:
What are the differentiating features of the Off-Plan Financing?
Sharia-compliant financing service
Installment of the down payment with 0 % profit margin
Customer only pays part of the instalments “profit only” during the construction period and up to 24 months
Fixed profit margin during the whole contracting period
Up to 65% for the dept burden ration “DBR”
Financing period of up to 25 years
Financing amount up to SAR 5,000,000
Available with no salary transfer for banks employees and approved sectors employees
Available to retired customers also
Ability to apply for joint financing with one of your first-degree relatives
Competitive prices on real estate units in the off-plan projects
Guarantees on your property
Bank AlBilad - Off Plan Financing by Bank Albilad :
Flat Rate
Through the decreasing balance mechanism, the annual profit is distributed based on the financing amount in monthly installments and based on the value of the remaining balance of the principal amount.
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 21 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 from the approved projects by MOH ""Wafi committee""
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
Real estate documents
Providing price quotation for the unit desired from one of the approved projects by Bank Albilad
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:
Off-plan 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
Benefits:
Installment of the down payment with 0 % profit margin
Get your dream home with Bank Albilad!
In cooperation with the Real Estate Development Fund and the Ministry of Housing, Bank Albilad offers you off plan financing. So, the wait is over! We give you the opportunity own your home from the approved development projects through the accredited developers with an easy and flexible financing options!
This program is under the supervision of “Wafi” committee.
Apply Now!