| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
The Saudi Investment Bank - ALASALAH Murabaha Home Finance
|
Minimum Salary: SAR 5,000 | Salary Transfer: No | Early Settlement Fees: Yes | Maximum Term: 30 Years | Flat Rate: 0.0 | Reducing Rate: 0.0 |
Al ASALAH home finance is available for completed (Villas, Apartments, Doplex) and land (ready for occupancy) and lands within urban areas only.
Free Takaful Home insurance coverage against disasters, such as fire, floods, storms, earthquakes, and others, and damages arising from such: Payment period & Finance amount
The features you need to know:
- Completed Properties
Finance available for completed properties (Villas, apartments, Duplex) and land.
- Sponsor
Guarantor not required.
- Down Payment
Minimum down payment 10% For the first property purchase price or 30% for the second property or more.
- WooW Points
WooW points which you can redeem against various unique gifts, gift cards, travel miles, cash and much more from WooW e-catalog
- Takaful Life Insurance
Free Takaful life insurance coverage against death or permanent disability without any medical test for finance up to SR 2,500,000.
SERVICE STANDARDS
- Approval in principle within 24 hours (subject to complete documentation)
- Completion of final approval and all related procedures within 12 working days provided all required documents are submitted on time.
- Completed properties: Finance available for completed properties (Villas, apartments) and land
- Guarantor not required
- Minimum down payment 10 % - 30% from property purchase price
- Free Takaful life insurance coverage against death or permanent disability without any medical test for finance up to SR 2,500,000
- Joint finance allows 2 first-grade relatives to combine their income and get a higher finance amount
- Complete Home Finance application form.
- Introduction letter from employer, which would typically include salary, allowance details, and date of joining.
- Salary assignment letter addressed to the Bank, which would include salary account number and date of salary transfer.
- Copy of a valid National ID (to be taken after sighting the original)
- Additional documents will be required for the selected property. These, however, may vary by property type. Please contact us for more details.
