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REDF Additional Support Initiative for Ministry of Defense Employees

REDF Additional Support Initiative for Ministry of Defense Employees

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Product introduction 

A financing initiative aimed at facilitating the access of the Ministry of Defense military employees to housing by raising their financial capital, by lending them a fixed loan of 160 thousandRiyal-Symbol.png.

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List of benefits

  • Competitive profit margin.
  • Financing without salary transfer.
  • Lend them a fixed loan of 160 thousandRiyal-Symbol.png.
  • The possibility of obtaining. personal finance added to the mortgage.


​List of Terms and Conditions

  • Not less than 18 years of age.

  • To have a chequing account. Don't have an account? Open your account online now. 

  • The net monthly income shall not be less than 3,000Riyal-Symbol.png.

  • Not to exceed 75 years of age when paying the last monthly installments.

  • That the property be within the approved plans and within the boundaries of the urban area.

  • To be a beneficiary of the Ministry of Municipal and Rural Affairs and Housing and the Real Estate Development Fund.


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List of required documents:


Customer Documents

  • Valid ID 
  • ID copy for military employees
  • 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 ( in case financed with salary transfer) 

Real estate documents

  • Copy of the title deed
  • Copy of building permits
  • Sketch of property location
  • Filling "property information" form
  • Filling "financing" form

*Terms & conditions apply

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Is there any management fee?

The management fee is 1% of the financing amount with cap of Riyal-Symbol.png5,000.

Who is eligible for REDF Advance Subsidy program? 

Customers eligible for the support of the REDF are the employees of the Ministry of Defense.

Is it possible to add REDF support as a part of the income for REDF advance subsidy customers?

No, it is not possible.


Is it possible to get REDF support in cash?

REDF Support is used to pay down payment only for ready unit and off plan products, but it’s possible to get REDF subsidy in cash for self-construction product. 

What is the procedure if the required down payment amount is more than the advance subsidy?

The difference will be provided by the customer.


Is it possible to get additional support with down payment or monthly support?

Yes, you can get additional support and choose between advance payment support or monthly support.

Is there a monthly installment for the beneficiary on the amount of the advance payment support?

Yes, and it will be paid directly to REDF and the payment will be started after two years of executing the contract and maximum by 18 years. The payment schedule will be provided to the customer with the subsidy contract.

​How to obtain the product or service

  • Through one of the branches of Bank Albilad.

  • Direct sales.

  • Tele sales.

​Example 1: Monthly subsidy + (Additional subsidy)

​Asset Price
​1,200,000 
​Downpayment (additional subside) 
​160,000
​Profit rate type
​Fixed 
​APR
​6.60%
​Tenor
​25 Years
Installment type
​Principle and Profit
​Finance amount 
​1,040,000
​Monthly installment
​6,524.67 


Example 2: advance subsidy + (Additional subsidy)

​Asset Price
​1,000,000
​Downpayment (additional subside) 
​160,000
​Downpayment support
​150,000
​Profit rate type
​Fixed
​APR
​6.64%
​ Tenor
​25 Years
​Installment type
​Principle and Profit
​Finance amount
​690,000
Monthly installment 
​4594.25

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