The Economy website presents the details and features of the product for purchasing ready-made units from Banque Saudi Fransi.
The ready-to-move-in unit purchase product is a product intended for customers wishing to obtain real estate financing for the purchase of a ready-to-move-in residential property.
Purchasing in the form of Murabaha means that the bank buys the property at its actual value and sells it to the customer at a higher deferred value that includes the profit margin.
This product is available to all credit-accepted clients of the bank and those supported by the Real Estate Development Fund and the Ministry of Housing.
Product advantages:
A product approved by the Shariah Board in the form of Murabaha.
Financing with a competitive and fixed profit margin for the entire financing period.
The possibility of financing up to the age of 75 years.
Financing tenure of up to 25 years
A financing amount of up to 5 million riyals.
The freedom to choose the property you want: villa / duplex / townhouse / apartment building / apartment.
Exemption from paying the remainder of the financing amount in the event of death or total disability, God forbid.
The increased installment according to the customer’s obligations – the developed financing “2 in 1 feature”.
Declining Premium upon Retirement – The customer is given the benefit of reducing the premium after retirement age in proportion to the retirement salary.
Eligibility criteria:
The age of the customer should not be less than 20 years.
Opening a current account in the absence of an account.
The client’s monthly net income should not be less than SAR 5,000.
Required Documents
For better service, the documents below are required to complete the application:
A copy of the title deed.
A copy of the building permit + a building completion certificate in case the electric current is not running (does not include land and unfinished real estate)
The seller’s offer form must be filled out and signed by the property owner.
A copy of the seller’s valid national ID.
Fill out the real estate website sketch form.
Fill out and sign the real estate financing application form.
Detailed salary definition showing allowances, “if any.
A copy of a valid national ID.
Salary rallies for the last three months if the client works for a semi-governmental sector or a private sector.
Account statement for the last three months showing the salary received.
