The Saudi British Bank House Loan
|Minimum Salary needed||Not mentioned|
|Maximum amount available||SAR 5,000,000|
|Length of Loan||20 years|
|Profit Rate||Not mentioned|
|Upfront Fees ( if any )||Not mentioned|
|Eligibility||Available for Government and Private employees|
|Main Features||Fully Shariah compliant Products; Possibility of joint finance for couples & blood relatives (children, siblings); Exemption of repayment in case of death or permanent disability|
The Saudi Arabia British Bank-Riyadh
SABB is one of the main indigenized banks in Saudi Arabia. It is Saudi Joint Stock Company boasting of a rich mine of heritage that goes back to 1978.
The bank was inaugurated on 12th of January 1978, and it took over the activities of The British Bank of the Middle East in Saudi Arabia.
The bank is an Associated Company of the renowned HSBC Group, one of the world’s largest banking and financial services organizations boasting of more than 10,000 offices in 83 countries!
SABB has a paid-up capital of SAR 10,000 million, 60% is owned by Saudi Arabians while 40% is owned by an HSCB-owned company .SABB operates through a network of 80 branches.
Riyadh is the capital and largest city of the Saudi Arabian kingdom. The city’s name means The Gardens. Just as it is with other large and densely populated Arabian cosmopolitans the likes of Jeddah and Dammam, Riyadh is a habitation of 5.7 million people, and the key urban centre of a region with a population of some 7.3 million.
The city is split into 15 municipal districts that are managed by Riyadh Municipality, headed the city’s mayor. Riyadh is also home to the largest all-female university on earth.
Throughout many ages, Riyadh had been a sleeping giant with no special national or regional significance. It is only after the 1940’s that it begun sprouting into the modern cosmopolitan that it is today.
Owning a home is one of the many valid dreams in the hearts of all men and women. But having the financial power to realize such dreams is not an easily available resource in the hands of all such dreamers. That is why SABB has customized home finance solutions to enable you to fulfill your home dreams.
Features and benefits:
- Shariah-compliant ;
- Finance available for up to SAR 5,000,000;
- Finance repayment period of up to 20 years;
- Available for Government and Private sector employees;
- Possibility of joint finance for couples & blood relatives, including children and siblings; and
- Exemption of repayment in case of death or permanent disability.