Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
ANB - Real Estate Finance ANB - Real Estate Finance Minimum Salary: SAR 5,000 Salary Transfer: Yes Early Settlement Fees: Yes Maximum Term: 30 Years Flat Rate: 0.0% Reducing Rate: 0.0%
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Arab National Bank provides, in cooperation with the Ministry of Housing and the Real Estate Development Fund,  real estate finance to citizens pre-approved for any of the Real Estate Finance Program products sponsored by the Ministry of Housing and the Real Estate Development Fund, to purchase the property of choice in the facilitated process.

Once the citizen is pre-approved  by the Ministry of Housing and the Real Estate Development Fund, and if both the citizen and property fulfill the standards of Arab National Bank, the citizen can avail of  the product from the bank, under which the Real Estate Development Fund  will subsidize  the finance profit margin on his/her behalf fully or partially for a finance amount up to SR. 500,000 which will be determined based on the number of his/her family members and income level.

Eligibility:
  • Applicant’s  Salary SR. 5,000 or more
  • Minimum service with  the current employer  one year
  • Minimum age 23 years
  • Salary transfer to ANB

Features
  • Repayment period up to 30 years
  • Freedom to choose either of the real estate finance program options (i.e. ready to move housing unit - housing unit under construction - mortgage).
  • Freedom to choose either of the financing solutions (i.e. reduced advance payment - flexible installment - pensioner financing - housing finance for the military in service - self-construction).
  • Fixed installments throughout the finance period.
  • Exemption of heirs from paying the remaining installments in the event of death "God forbid”.
  • Profit margin fully subsidized by the Real Estate Development Fund for those with a monthly income of SR 14,000 or less.
Documents Required
  • Filling the finance application.
  • Employer certificate specifying the salary and number of years in service.
  • Filling offer & acceptance form (mortgage exempted).
  • Sketch showing the location of the property.
  • Filling the purchase & seller confirmation form (mortgage exempted).
  • Copy of title deed.
  • Copy of building license (for residential units).
  • Measurements confirmation (for residential units).
  • Copy of national identification card.
  • Bank statement for the last 3 months (if the applicant’s salary is not transferred to ANB).
** 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.
Representative Example Calculator
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