|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Al Awwal Bank - Off-Plan Finance||Minimum Salary: SAR 10,000||Salary Transfer: No||Early Settlement Fees: Yes||Maximum Term: 30 Years||Flat Rate: -||Reducing Rate: -|
You can now get financing to help you buy a home that’s still under construction. All you need to do is choose your desired home from the developer and we’ll help you buy it through easy installments.
- A Saudi national
- All employment sectors, including pensioners
- Minimum age of 21 years
- A minimum salary of SR 10,000
- A minimum employment period of 1 year
- The first in the Kingdom
- Competitive profit rate
- Repayment period up to 30 years
- Financing of up to SR 5,000,000
- Waiver of the remaining installments in case of death
- Waiver of the remaining installments in case of complete disability
- Free Insurance against fires and natural disasters
- Shariah Compliant Financing
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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.