| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
FAB - Property Finance
|
Minimum Salary: SAR 9,000 | Salary Transfer: No | Early Settlement Fees: No | Maximum Term: 30 Years | Flat Rate: 3.99 | Reducing Rate: 0.0 |
Benefit
- Financing amount up to SAR 5 million
- Shariah-compliant
- Competitive profit margins
- Co-financing between spouses or first-degree relatives, up to a maximum of three people
- Financing period of up to 30 years
- In case of death or permanent disability, the debt will be waived after the required documents are submitted to the Bank and subject to insurance coverage*
Features
- Financing amount up to SAR 5 million
- Shariah-compliant
- Competitive profit margins
- Co-financing between spouses or first-degree relatives, up to a maximum of three people
- Get cashback on your mortgage of up to SAR 10,000, offer valid until 15 February 2021*
- Financing period of up to 30 years
- In case of death or permanent disability, the debt will be waived after the required documents are submitted to the Bank and subject to insurance coverage*
Documents Required
- ID copy (valid original documents must be presented)
- Property Finance form, completed and signed by the applicant
- Income documents
- Property-related documents
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
