Key Requirements
to apply for a Al-Rahn Al-Moyassar Home Finance
Al-Rahn Al-Moyassar Home Finance
Lower down payment requirement (only 10%) of the financed property value for first property (or 30% for any additional property).
This is reduction in down payment requirement by 5% which will reduce the down payment amount from 10% to 5% of the property value, for the first property only (or 30% for any additional property); thus, beneficiary can obtain home financing of up to 90% of the property value (LTV).
Saudi nationals (men and ladies).
Applicant must be listed on the REDF’s and Ministry of Housing’s finance lists.
This product comes with a complimentary salary account with no minimum balance requirements.
Standard SAIB loan administration fees. (1% of the finance amount up to a maximum 5000) will apply.
Minimum Property size = 80 square meter.
Minimum age of 20 years old with a maximum age of 70 at the maturity.
Applicant must open a Salary Account with SAIB and assign salary.
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.
Employer’s salary transfer certificate and Account statement of last 3 months (showing last 3 salaries which are verified from the previous bank).
Product Risk
To view the Home Finance product risks, click here.
Help & Support
For more information and details, please call us at: 800 100 01012.