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The Advance Subsidy program

Own your property with the Advance Subsidy program

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You can now own your property with the Advance Subsidy program whether you want to buy a ready-made house, want to build a villa, buy an apartment, or want to buy a housing unit under construction.
 The Advance Subsidy program is a program intended for beneficiaries of the Ministry of Municipal and Rural Affairs and Housing and the Real Estate Development Fund. Where the Real Estate Development Fund supports the customer's down payment with a maximum of 100,000 Saudi riyals, which is not refundable by the customer.


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What are the main advantages of the Advance Subsidy program ?


  • This program contributes to supporting the down payment
  • Non-refundable support from the Real Estate Development Fund in the amount of 100,000 riyals
  • Reducing the financing amount if the down payment is less than 100,000 riyals

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Terms and Conditions


  • Not less than 20 years of age
  • To have a chequing account. Don't have an account? Open your account online now, click here
  • The net monthly income shall not be less than 3,000 Saudi riyals
  • Not to exceed 70 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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FAQs


Who is eligible for REDF Advance Subsidy program? 

REDF and NHC customers.

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

No, it is not possible.

How much is the profit rate for REDF advance subsidy customers?

It will be based on REDF profit rates.

Is it possible to get REDF support in cash?

REDF Support is used to pay down payment only and cannot be obtained in cash

What is the procedure if the required down payment amount is more than 100,000?

The difference will be provided by the customer.

Is it possible to take two REDF subsidy ( Monthly subsidy and Advance subsidy)?

No, customer can apply for one subsidy only from REDF.

Should customer pay the advance subsidy in installments?

No, the advance subsidy is not refundable from the customer.

If customer benefited for REDF advance subsidy, is he allowed to apply for the monthly subsidy?

No, he is not allowed to apply for monthly subsidy since customer is eligible for one subsidy only from REDF

If customer benefited for REDF advance subsidy, is he allowed to apply for REDF products and initiatives?

No, he is not allowed to apply for REDF products and initiatives since customer is eligible for one subsidy only from REDF


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