Real Estate Financing Buyout

Real Estate Financing Buyout by Bank Albilad

​Last update on 19-08-2020

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!  

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
  • Flexible payment plans 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


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  

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

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

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 
APR7.23%
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration30 years
Type of installmentsFunding principal and profit 
Monthly installmentSAR 2,993.75
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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