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
Financing period of up to 30 years
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

FAQs

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

Contact Us

Albilad Phone

To call Bank Albilad from Saudi Arabia: 8001230000, and from outside the Saudi Arabia: 00966920001002

8001230000

Our Branches

Find the nearest Albilad branch or ATM to you. Get step-by-step directions and estimated time of arrival.

Find Us

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).

Subsidized Home Financing