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 Real Estate Financing Buyout

 Real Estate Financing Buyout by Bank Albilad

16-01-2024

Worried about your variable interest rate of your home financing? 


Now with Bank Albilad you can settle your existing financing that you have with any other bank by getting a new real estate financing from Bank Albilad with a fixed profit margin and fixed instalments!   

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What are the features of the Real Estate Financing Buyout by Bank Albilad?


  • Sharia-compliant financing service  
  • Competitive and fixed profit rate during the whole contract period
  • Financing period of up to 25 years
  • Up to SAR 3,000,000 financing amount
  • Available with no salary transfer for banks employees and approved sectors employees
  • Ability to apply for financing jointly with one of your first-degree relatives
  • Early settlement is available as per SAMA regulations
 
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Terms and Conditions 


  • Open current account with Bank Albilad
  • Customer must be 20 years or older
  • Customer must be an employee of a public or private sector approved by Bank Albilad. 
  • Customer's salary should be 3,000 SAR or more
  • Customer should be 70 years or younger when making the last payment\
  • Real estate must be located within urban area   

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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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FAQs


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:

Home Financing ​
Real Estate valueSAR 500,000
Finance amount90% of real estate value
Type of profit margin (Fixed or Variable)Fixed Rate 
APR6.55%
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration25 years
Type of installmentsFunding principal and profit 
Monthly installmentSAR3,000
Early settlement The value of the remaining asset with an additional 3 months earningss
*Terms and conditions apply
The annual percentage rate varies based on the amount and maturity period and Subjected to the customer's credit history 



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All Rights Reserved © 2024 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).


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