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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 house, 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 150,000 Saudi riyals, which is not refundable by the customer.



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What products are included in the program?



What are the main advantages of the Advance Subsidy program ?


  • Shariah approved products.
  • Non-refundable support from the Real Estate Development Fund in the amount of 100,000 or 150,000 riyals based on customer salary
  • Reducing the financing amount if the down payment is less than the advance subsidy 
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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

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 the advance subsidy?

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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