Key Requirements
to apply for Home Equity Finance
WooW points.
Finance Amount: 350,000 – 7,000,000.
Shari’ah compliant (Based on Commodity Murabaha).
Payment Period: 60 – 360 months.
No down payment required. The property value will be considered as a down payment.
Free Takaful Life Insurance coverage against death or permanent disability – God Forbid.
Free Takaful Home Insurance coverage against disasters, such as fires, floods, storms, earthquakes, and others that arise to such damage.
End-to-End digital application (through mobile application).
to apply for Home Equity Finance
Saudi nationals only.
Minimum is 23 years, Maximum (at maturity) is 70 years.
Salary Account with The Saudi Investment Bank.
Employer’s salary transfer certificate and Account statement of last 3 months (showing last 3 salaries which are verified from the previous bank).
Administration Fee: 1% of finance amount or 5,000 (whichever is less).
To view the Home Finance product risks, click here.
For more information and details, please contact us at: 800-124-8000.
* Terms and conditions apply.
Yes. This product is Sharia’a compliant and has been designed on the basis of Islamic principles.
Up to 20 years.
To apply for this product, call 800 124 8000 or follow the below instructions:
If you have any inquiries, contact our Phone Banking “Flexx Call” at 8001248000
SAIB guarantees in-principle approval within 24 hours, and a final approval within 12 business days (subject to complete documentation).
You would need to make an immediate repayment of the principal outstanding amount, and we may offer you a discount on the outstanding profit.
You can avail financing up to a maximum limit of 7,000,000.
Minimum amount is 350,000.
You can mortgage the following properties: Villas – Apartments.
Yes, you may repay your financing early. As this is a Sharia'a compliant product, you do not have to pay penalty charges for prepayment and we can offer you a discount on the outstanding profit.