Bank AlBilad House Loan - Real Estate Financing

Minimum Salary needed SR 5,000 per month
Maximum amount available Not mentioned
Length of Loan 20 years
Profit Rate Not mentioned
Upfront Fees ( if any ) Not mentioned
Eligibility The customer must have a current account with Bank Albilad; The customer is not less than 21 years of age; The customer, or guarantor if applicable, must be an employee of a public or private sector installation approved by Bank Albilad, with at least one (1) year of service; The customer must transfer his salary to his current account with Bank Albilad using the SWIFT deposit system
Main Features This is a Sharia-compliant financing service approved by the Bank's Sharia Commission. The Bank profit is determined in advance. It does not include any increases not agreed upon in case of delay in payment. The house is sold to the customer only after the bank has bought the house and registered its ownership in the Bank's name; Financing may be requested from any branch of the Bank at all areas of the Kingdom through the customer service staff; The customer can buy any house as he desires within the credit limits made available to him by the Bank; Financing does not require guarantor or a down payment (in the cases of approved dealers); Financing procedures are completed promptly.