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Down Payment Subsidy for Civilians

Down Payment Subsidy for Civilians by Bank Albilad

​Own your home with Bank Albilad

 
In cooperation with the Real Estate Development Fund and the Ministry of Housing, Bank Albilad offers the down payment subsidy for civilians with an age of 50 or older. This initiative allows eligible customers to get an additional 0% profit finance to support them with the down payment in the amount of 20% of real estate's value and up to SAR 140,000.



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What are the differentiating features of the Down Payment Subsidy for Civilians by Bank Albilad?


  • 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
  • Subsidized additional financing of 20% of the real estate value and up to SAR 140,000
  • Ability to get additional financing
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Terms and Conditions 


  • Open current account with Bank Albilad
  • Customer must be 50 years or older
  • Customer's salary should be 3,000 SAR or more
  • Available only to REDF and MOH customers

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Required Documents


Customer Documents 

  • Valid ID 
  • 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

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

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FAQs


Is there any management fee? 

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


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All Rights Reserved © 2024 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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