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