Bahrain Islamic Bank B.S.C. Home Loan in Manama

Minimum Salary needed BD500 (employed); BD800 (joint); BD1,000 (self-employed).
Maximum amount available BD500,000
Length of Loan 25 years
Profit Rate Not mentioned
Upfront Fees ( if any ) Not mentioned
Eligibility Age of Applicant: Above 21 years of age at the time of application and less than 65 at the maturity of the finance; Minimum Work Experience: 1 Year; Maximum DSR (Debt Service Ratio): upto 65%.; Salary Transfer: Mandatory
Main Features Ijara with promise to own (for financing ready residential units); Ijara (for financing under construction properties); Diminishing Musharaka (for financing commercial properties)

Bahrain Islamic Bank B.S.C.

The Bahrain Islamic bank BSC, based in the capital city of Manama, has been at the forefront of banking in the kingdom of Bahrain. The bank is focused on providing Islamic banking solutions for its clients. Islamic banking is based entirely on the principles of Sharia’a and is intrinsic to the growth of the country and the community. The bank is also involved in managing and developing real estate. The bank founded in 1979 has a network that comprises of 56 ATMs, 13 branches and 2 financial malls. The bank also operates an open ended investment fund or in other words the bank invests the money of its shareholders in various other channels of investment like bonds, money market instruments and bonds.


After its independence from the British in the twentieth century, the city of Manama grew by leaps and bounds. Manama and many of its neighbouring suburbs merges to form the modern capital of Bahrain. The sudden urbanisation also saw the birth of many new suburbs like Salmaniya and Adilya. The country saw a spurt in construction as modern buildings replaced the older structures. This boom in construction also saw the influx of expats particularly from the Indian subcontinent until foreign nations outnumbered the local population. Bahrain shifted its dependence on oil and natural gas to the more challenging financial industry resulting in Manama’s growing influence in the region.    

House Loan 

An applicants to the bank’s house loan needs to satisfy some eligibility conditions.  The applicant should have a minimum salary of 500 BD in case of employed and 800 BD for the self-employed. In case of joint application, the minimum salary for eligibility is 800 BD.  The tenure of house loan cannot exceed 25 years and the maximum loan amount cannot exceed 500,000 BD subject to his repayment capability. The applicant should be not be below 21 years and should not exceed 65 years of age at the time of last instalment. The loan can be availed for purchase of constructed or under construction residence or commercial property.