Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
The Saudi Investment Bank - ALASALAH Murabaha Home Finance 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
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ALASALAH Murabaha Home Finance is an Islamic home financing product approved by SAIB’s Shariah Committee. The Murabaha is a contract wherein the bank buys the property, based on your request and subject to a monthly payment plan and a fixed profit rate for the whole financing period. The Bank will release mortgage on the property once all monthly payments have been paid.

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.


  • 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
Documents Required
  • 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.
** 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.
Representative Example Calculator
Samba - Ready / Under Construction Villas
Minimum Salary
SAR 5,000
Reducing Rate