Samba Home Finance - Land Plot
|Minimum Salary needed||SR 5,000|
|Maximum amount available||SR 1.5 million|
|Length of Loan||15 years|
|Profit Rate||Not mentioned|
|Upfront Fees ( if any )||Not mentioned|
|Eligibility||You should be a Saudi national who is at least 22 years of age; You should be working for a Samba-approved government, semi-government or private employer for at least one year; Conditions – Plot of Land should not be mortgaged to any party, should be in a residential area (availability of facilities are not required if it is inside urban range) and should not exceed 1,500 square meters in area.|
|Main Features||Approved by the Shariah Supervisory Board; Finance up to 70% of the property value (Apartment); No guarantor required; An option of joint ownership with a first-degree relative to get a higher finance amount; You can repay earlier than the tenure you have availed; Fixed profit rate. With Bayt Al-Khair your profit rate will never change during the entire tenure of the finance and therefore your monthly installment will never change; In case of death or permanent total Medical disability, God forbid, all outstanding amounts will be considered paid subject to terms and conditions of insurance policy; Free Takaful property insurance|
Samba Financial Group
Top on the list of the most successful and venerated financial groups in Arabia lies Samba Financial Group .The Group has a reputation for world-class financial solutions matching the best in the world.
From the onset, Samba has retained a strong lead in the industry through pioneering tailor-made innovations in the industry. This has in turn played a significant role in the modern transformation of banking in Saudi Arabia.
In truth, the Group’s world-class services and products, market-leading products and superior technology have contributed to make Samba one of the most accomplished brand names and the most internationally respected bank in Saudi Arabia.
The city of Jeddah lies in the western coastline of Arabia’s Red Sea, beautiful and magnificent .It is the principal city in the western region of the Kingdom of Saudi Arabia. Jeddah is also the largest city in Makkah Province, the most important sea port on the Red Sea, and the second largest city in the kingdom of Saudi Arabia.
Jeddah is populated by more than 5.1 million inhabitants. The city is a premium commercial destination in Saudi Arabia within a similar context with Riyadh and Dammam, all of that, in terms of economic and regional importance.
Jeddah’s economic focus is set to foster capital investment in scientific and engineering sectors across Saudi Arabia.
Home Finance - Land Plot
Samba Financial Group believes in your right to decent habitation. That is why our Land Plot loan is here to achieve that.
Salient features and benefits:
- Financing amount: SAR 1.5 million;
- Finance of up to 70% of the plot value ;
- Repayment duration: 15 years.
- Guarantor :not needed;
- Privilege of joint ownership;
- A fixed profit rate; and
- Free Takaful property insurance.
- Saudi subjects aged 22 years and above;
- Employees of a Samba-approved government, semi-government or private employer for at least 12 months;
- Monthly salary: SAR 5,000;
- Completed application form;
- Copy of national ID card;
- Certificate of employment ;
- Salary transfer letter ;
- Plot should not be mortgaged to any party;
- It should not exceed 1,500 square meters in area;
- Copy of the estate title; and
- Clear site map.