FAQs What documents do I require to submit for the financing?Customers documents:- Valid ID
- ID copy for military employees
- Fill out disclosure form
- Filling "financing" Form
- A letter from the customer's employer indicating: monthly salary (Basic and allowances), job title, date of employment
- A statement of salary transfer from employer
Property documents:
- Copy of the title deed
- Copy of building permits
- Sketch of property location
Required Documents for Residents
- Client's income sources are attached and studied based on: Commercial registry, Real Estate documents and Investment contracts.
- Approval of the Ministry of Interior for residency holders, except for clients with unlimited duration premium residency.
- Valid ID
- A letter from the customer's employer indicating monthly salary (Basic and allowances), job title, date of employment.
- A statement of salary transfer from employer (in case financed with salary transfer)
Real estate documents for Residents
- Copy of the title deed
- Copy of building permits
- Copy of owner ID
- Sketch of property location
- Filling “property information" form
- Filling “financing" form
*Terms & conditions apply
Is there any management fee?The management fee is 1% of the financing amount with cap. of  5,000.
Can a finance be obtained if the customer is a fixed duration residency holder?YesIs there a specific nationality to which grants are limited?There is no specific nationality to which grants are limited
Does the financing include commercial properties?The financing is limited to residential or mixed-use (residential-commercial) properties, depending on the product type
How the profit margin is calculated?
Here is an example of how the profit margin is calculated:Finance against mortgage program
| | Finance amount | SAR 100,000 | | Total profit margin | SAR 10,000 | | APR | 4.31% | | Management fees | Management fees is 1% of the Financing Amount with Cap. of SAR 5,000 | | Finance duration | 60 months | | Total finance cost | SAR 110,000 | Monthly installment
| SAR 3,000
|
Example for Residents
Example 1: Finance amount 1 million 
1,000,000
| Asset Price | 300,000
| Downpayment (30% of the asset price) | | Fixed | Profit rate type | | 6.25% | APR | | 25 Years | Tenor | | Principle and Profit | Installment type | 700,000
| Finance amount | 5,040.00
| Monthly installment
|
Example 2: Finance amount 800,000
800,000
| Asset Price | 240,000
| Downpayment (30% of the asset price) | | Fixed | Profit rate type | | 6.25% | APR | | 25 Years | Tenor | | Principle and Profit | Installment type | 560,000
| Finance amount | 4,032.00
| Monthly installment
|
Example 3: Finance amount 2 million2,000,000 | Asset Price | 600,000
| Downpayment (30% of the asset price) | Fixed | Profit rate type | 6.25% | APR | 25 Years | Tenor | Principle and Profit | Installment type | 1,400,000
| Finance amount | 10,080.00
| Monthly installment
|
How to get the product or service for Residents ? • Customer visits one of Al Bilad Bank's sales channels (branches, direct sales, tele sales)• The customer applies to purchase the property• The order is applied through the system• The application will be analyzed based on the said terms and conditions.• If the application is approved, the necessary documents will be signed by the client.
APR may differ depending on the amount, maturity period and credit scoring of the customer
TERMS AND CONDITIONS APPLY. |
