Do you aspire to own a property such as a villa, duplex, apartment or land but you do not have the required fund for that?
Bank AlJazira now brings you the solution to acquire the property of your dreams through "Baity", specialized Residential financing product with down payment of 10% only from property value
Features & Benefits
* APR starts from 4.26%.
* Administration and evaluation fees are 1% of the total amount of funding or up to SR 5,000 and subject to 15% Value Added Tax (VAT).
All the fees are subjected to 15% Value Added Tax (VAT)
- Valid national Saudi ID card
- Certificate letter of employment one month old or less (for employed applicants)
- Salary transfer certificate
- Bank statement for the last three months (for staff) and last six months (for self-employed)
- Proof of all sources of income (for employees and self-employed)
- Commercial Registration and work permit for self-employed
- 2 Years financial statements except for self-employed professionals who do not have a registered company. Example: Engineers, Lawyers, etc.
** 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.