Self-Build Financing

 Best Self Build Finance in Saudi Arabia

17-11-2021


Building your dream home is now easier with Bank Albilad!

 

Now construct your dream home by availing quick and easy to apply self-building financing by Bank Albilad.

In cooperation with the Real Estate Development Fund and the Ministry of Housing, Bank Albilad offers you self-build construction loan. So, the wait is over! We give you the opportunity to build your desired property by 4 financing payments throughout the construction phases.

What are the differentiating features of the self-build financing?


  • Sharia-compliant financing service 
  • 0% down payment 
  • The first payment can be up to 90% of the real estate value
  • Financing period of up to 25 years
  • Financing amount up to SAR 3,000,000
  • Available to retired customers also

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  
  • Available only to REDF and MOH customers




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

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:

Self-build Financing
Real Estate valueSAR 500,000
Finance amount90% of real estate value
Type of profit margin (Fixed or Variable)Fixed Rate 
APR6.70 %
Management fees
Management fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration25 years
Type of installments
Funding principal and profit 
​Finance Amount
​450,000.00 SAR 
Monthly installment3,093.75 SAR 
Early settlement The value of the remaining asset with an additional 3 months earnings
*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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