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Real Estate Financing

Buy your own home by monthly installments

Cash money is not any more a barrier between you and your dream of living in your own home. Bank Albilad has made it easier for you to buy a home for you and your family. Not only that; Bank Albilad has adopted financing solutions to help you buy a house and pay its price at right-at-hand, Sharia-compliant monthly installments, which are controlled by the Bank's Sharia Board for accurate application.
The bank buys and owns the house which the customer would like to purchase. Then, the bank sells the house to the customer at the acquisition price plus a profit margin. Ownership is transferred later, provided that the customer repays the price of the house to the bank at monthly installments in accordance with the provisions of the contract signed by and between the two parties.

Financing 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.
  • The customer can pay the price of the house by monthly soft payments commensurate with his monthly salary and for a period of up to 20 years.
  • 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.

Soft conditions

  • 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's net income should not be below SR 5,000 per month;
  • The customer must transfer his salary to his current account with Bank Albilad using the SWIFT deposit system.

Required documents

  • Real Estate documents
    1. An eligible copy of the ownership deed;
    2. Copy of the building license;
    3. Eligible layout of the location;
    4. A breakdown of the building, if applicable; and
    5. Completing "Real Estate Information" form.
  • Valid ID (civil ID card or Family Book for Saudis;
  • Copy of the military ID for militaries;
  • Completing and signing a "Installment Purchase Form";
  • An introductory letter from the employer containing the following information: monthly salary (base and allowances), job description, the date of employment and the date of termination of the employment contract.
  • A statement of transferring the salary.