The Economy website presents the details of the regressive financing initiative for military clients from Saudi Bank Albilad.
Military clients can be granted real estate financing up to the age of 70 Hijri years, other than retirement date based on military rank. Bank Albilad looks forward to contributing to the development of housing solutions within the reach of the largest possible segment of customers, with different capabilities and needs.
Financing is calculated based on the client’s monthly income on the job, and after retirement according to the date of retirement of the military rank, the financing is calculated based on the client’s monthly income after retirement.
Products included in the program
Ready-to-buy product
self-build product
The product of purchasing a real estate unit under construction (sale off-plan)
The main advantages of the program
Complies with the regulations of the Shariah Committee of Bank Albilad
Real estate financing up to the age of 70 years in the Hijri
Greater real estate financing value through flexible regressive financing
The premium amount will be lower after retirement
Possibility to obtain other financing
Possibility to benefit from housing support programs from the Ministry of Housing
the conditions
The customer must have a current account with Bank Albilad
The age of the customer should not be less than 20 Hijri years
The client must be on the job in one of the military sectors
The client’s monthly net income should not be less than 3,000 riyals
Required Documents
Customer Documents
A valid national identity card or family register
Fill out the client’s acknowledgment and disclosure form of his personal obligations
A copy of the labor card for employees of the military sectors
Fill out a real estate financing application form
Salary transfer letter to Bank Albilad (in case of salary transfer)
A definition from the employer that includes the following: (monthly salary, the date of joining the work with the date of the end of the work contract, position)
real estate documents
A clear picture of the instrument
building permit copy
A clear sketch of the property’s location
Real estate partition report, if any
Fill out the form “View property information”
