MOH ready house

The features you need to know:

Shariah compliant financing

Shariah compliant financing, based on Commodity Murabaha

No down payment

The customer is not required to pay a down payment in cash. The land value will be considered as down payment.

REDF Coverage

REDF will cover profit portion of the finance up to a maximum finance amount of SAR 500,000 through Madoom subsidy Program.

Takaful Life Insurance

Free Takaful life coverage against death or permanent disability –God forbid- without any medical test for finance amount up to SAR 2,500,000.

Property Insurance

Free Takaful property coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages.

Debt Burden

Maximum debt burden ratio (DBR) is 65% out of the gross income.

Ministry of Housing (MOH) Ready House Finance is a product from The Saudi Investment Bank (SAIB) in collaboration with REDF which allows customers to purchase ready houses in projects developed by MOH. With this product, customers will be able select a ready property in any of MOH’s developed projects and get financing from the Bank to purchase the property under Murabaha principle.

Payment period


Finance amount


Please make sure you have the following requirements:


  • For Saudis only
  • Age of applicant: minimum 21 years and maximum 70 years at maturity.
  • Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists.
  • Employment: Working for an employer included in the Bank’s approved list of companies, retirees from the government, military or private sector.
    • Service period:
      For Government Sector: 1 month with current employer.
      For Private Sector: 3 months with current employer.
    • Applicant must open a Salary Account with SAIB.


  • Filled finance application form
  • Copy of National ID
  • Introduction letter from customer’s employer
  • Letter from MOH addressed to The Saudi Investment Bank specifying the price.
  • Salary transfer letter
  • Account statement of the last 3 months showing last 3 salaries, verified from the previous Bank for private and military sectors only
  • Copy of the “Work ID Card”specifying rank/position (to be taken post sighting of the original) – this is apply for armed forces as well (if applicable).


For more information and details, please contact our Flexx Call contact center at:


Standard SAIB loan administration fees. (1% of the finance amount up to a maximum SAR 5000) will apply.

This product comes with a complimentary salary account with no minimum balance requirements. The account also offers free cheque-book, mada Debit Card from The Saudi Investment Bank and access to SAIB Flexx Click Internet Banking, Flexx Call contact center and SMS Banking facilities..


  • Approval in principle within 24 hours (subject to complete documentation)
  • Completion of final approval and all related procedures within 12 working days provided all required documents are submitted on time.

An example of information that will be obtained when applying for a product

Property evaluation (SAR) 500,000
LTV % 90
Type of term cost Fixed
APR % 7.40
Finance Tenor (Years) 15
Payment method Monthly deduction from customer's salary
Monthly Installment Amount (SAR) 4,037.18
Early settlement amount 1-2 Years: Total profit amount of the 1st two years After 2 years: profits of the three subsequent installments

*The Annual Percentage Rate (APR) may differ based on the amount and maturity period.

The calculator provides estimates only.
Your Age
20 Years
Property Price
Gross Income
Repayment term
First House
Down Payment
Monthly obligations
For exact figures please contact Flexx Call contact center at 800-124-8000
or visit your nearest SAIB Branch.
All personal financings are subject to credit approval.

Product Risks

To view the Home Finance product risks, click here


Is it required to open a salary account and transfer my salary?

Yes, salary transfer to SAIB is mandatory in order to obtain this product from SAIB.

If I am not listed on the REDF list, can I obtain this product?

No, this product is only for eligible personnel listed on the REDF’s and Ministry of Housing’s finance lists..

Is this product Shariah-Compliant?

Yes, it is a Sharia compliant product based on Murabaha principle.

What is the maximum subsidy amount on which I can receive from the REDF under Madoom program?

Maximum financial support of SAR 500,000 that covers the profit.

What is the maximum finance amount for this product?

The maximum finance amount is SAR 7,000,000.

How much is the administration fee amount?

1% of the finance amount up to SAR 5,000 (whichever is lower).

Can I make an early settlement of the finance amount with the Bank?

Yes, provided that you meet the Bank’s terms and conditions (to learn more about these terms, please call us at 800 124 8000).

What is the minimum length of service?

The minimum service period is as follows:
Government Sector: 1 month with current employer
Private Sector: 3 months with current employer

When does the title deed get transferred?

Timing of title deed transfer will depend on MOH.

When does the mortgage of property take place?

  • Once MOH is ready to transfer the Title Deed, mortgage to SAIB of Title Deed will take place.

What is the down payment requirement?

  • No down payment to be made by customer as the property is sold at concession, which serves as down payment amount.

How do I apply?

Please click here or contact our Flexx Call contact center at 800 124 8000 .