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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Bank AlJazira - "Baity" Home Finance Bank AlJazira - "Baity" Home Finance Minimum Salary: SAR 5,000 Salary Transfer: Yes Early Settlement Fees: Yes Maximum Term: 0 Years Flat Rate: 4.78% Reducing Rate: 8.6%
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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 15% only from property value
Features
  • Financing up to 85% of Property Value
  • Financing up to SR 8,000,000
  • 6 months deferral for the first repayment of the finance
  • A competitive profit rate.*
  • Ability to obtain Joint Finance with first degree relatives to obtain higher finance amount
  • Financing to buy house or land is possible
  • Takaful (life insurance) in case of death or total disability (God forbid).
  • Property insurance coverage against Fire & natural disasters throughout the finance period
  • Finance is also possible for self employed
  • Ability to transfer existing finance from other institutions
Documents Required
  • 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 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
National Commercial Bank - Residential Finance
Minimum Salary
SAR 3,000
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Alawwal Bank - Home Finance
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SAR 10,000
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3.33%
Samba - Ready / Under Construction Villas
Minimum Salary
SAR 5,000
Reducing Rate
9.59%
Riyad Bank - Home Equity Incomplete Property
Minimum Salary
SAR 5,000
Reducing Rate
3.33%