Finance Against Mortgage Program

11-10-2022

Worried about cash? Get the cash you need with Bank Albilad by mortgaging your property!

The Finance against mortgage financing from Bank Albilad allows you get shares financing by mortgaging your property (land or building) with a higher financing limit and flexible payment method.

What are the key features of Bank Albilad finance against mortgage?

Here’s what you can expect from our Albilad finance against mortgage financing Program:

Sharia-compliant financing service
Ability to choose the desired Shariah approved shares from the local market
Early settlement is available
Financing period up to 25 years, with possibility to extend it up to 30 years for beneficiaries of Ministry Of Housing or REDF
Financing amount up to SAR 5,000,000.

Terms and Conditions

Customer must be 21 years or older
Available to Saudi only
Open current account with Bank Albilad
Customer must be an employee of a public or private sector approved by Bank Albilad.
Customer's salary should be 3,000 SAR

FAQs

What documents do I require to submit for the financing?

Customers documents:

Valid ID
ID copy for military employees
Fill out disclosure form
Filling "financing" Form
A letter from the customer's employer indicating: monthly salary (Basic and allowances), job title, date of employment
A statement of salary transfer from employer

Property documents:

Copy of the title deed
Copy of building permits
Sketch of property location

Is there any management fee?

The management fee is 1% of the financing amount with cap. of SAR 5,000.

How the profit margin is calculated?

Here is an example of how the profit margin is calculated:

Finance against mortgage program
Finance amount	SAR 100,000
Total profit margin	SAR 10,000
APR	4.31%
Management fees	Management fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration	60 months
Total finance cost	SAR 110,000
Monthly installment	SAR 1,833.33

APR may differ depending on the amount, maturity period and credit scoring of the customer

TERMS AND CONDITIONS APPLY.

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All Rights Reserved © 2023 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).

Finance Against Mortgage Financing