Subsidized Home Financing

Subsidized Home Financing by Bank Albilad

Are you looking for a subsidized home financing?

If you are a beneficiary of MOH or REDF and have a monthly income of 14,000 SAR or less, you can apply for the subsidized financing program through Bank Albilad and avail 0% profit margin on your subsidized financing. The cost of financing would be borne by REDF and MOH through its subsidized financing program and complimentary mortgage loan. 

In case of applicants with a monthly salary higher than 14,000 SAR, calculation of subsidized financing can be done through the Real Estate Development Fund website or by visiting any of our branches.

What are the key features of REDF subsidized financing program?

  • Sharia-compliant financing service 
  • 0% profit margin of the first SAR 500,000 of your financing if your salary is less that SAR 14,000
  • Ability to get additional financing
  • Flexible payment plans 
  • The subsidized financing is on the first SAR 500,000 of your financing
  • 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
  • Down payment starts with 5% only

Terms and Conditions 

  • Open current account with Bank Albilad
  • Available only to REDF and MOH customers
  • 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 ( 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



What if my salary is above 14,000 SAR?

You can apply for REDF subsidized financing loan; however, your calculation would be done through Real Estate Development Fund website. You can also visit any branch of bank Albilad.

Is there any management fee?

The management fee is 1% of the financing amount with cap of SAR 5,000.

Terms & conditions apply 

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