The Economy website lists the advantages of the Real Estate Capital Program from Saudi Bank Albilad.
Bank Albilad offers you a Murabaha equity financing program with a mortgage guarantee (land or building), which allows you to obtain greater liquidity with a flexible repayment period of up to 30 years.
The main advantages of financing against a mortgage from Bank Albilad?
Complies with the regulations of the Shariah Committee of Bank Albilad
Quick completion of all client financing application procedures.
Flexible repayment period of up to 25 years with the possibility of extending it to 30 years for beneficiaries of programs supported by the Ministry of Housing and the Real Estate Development Fund
Competitive and stable profit margin.
Financing up to 5,000,000 SAR.
Beneficiaries of programs supported by the Ministry of Housing and the Real Estate Development Fund can benefit from the financing product against the mortgage of the property.
The possibility of early repayment at any time based on the controls of the Saudi Central Bank.
Conditions
The customer must have a current account with Bank Albilad.
The client must be a Saudi national.
The age of the customer shall not be less than (21) years.
The customer must be working in one of the establishments approved by the bank in the public or private sectors.
The customer service at the entity in which he works shall not be less than one month. *
The client’s monthly net income should not be less than (3,000) Saudi riyals.*
Transferring the monthly salary to Bank Albilad.
Required Documents
To ensure that your application is completed quickly and smoothly, please make sure to provide the following documents when submitting your application:
Customer Documents:
A valid national identity card or family register.
Fill out an acknowledgment and disclosure of the client’s personal obligations.
A copy of the labor card for employees of the military sectors.
Filling out the “Request for Financing Against a Mortgage” form.
Salary transfer form to Bank Albilad.
A definition from the employer, provided that it includes the following information: the monthly salary, the date of joining the work and the date of the end of the work contract.
Real estate documents:
A clear picture of the instrument.
Building permit copy.
A clear sketch of the property’s location.
The bank mortgages the property provided by the customer, whether land or building, until the end of the financing repayment period.
When the customer finishes paying the full amount due, the bank releases the mortgage on the property.
