FAQs Is there any management fee? The management fee is 1% of the financing amount with cap of SAR 5,000. What is the feature of completing payments in off-plan finance?
The feature of completing payments is a financing option that allows customers who have purchased a unit under construction from real estate developers with cash to obtain financing to cover the remaining payments due on the property, provided that the property is mortgaged to the bank upon transfer of ownership.
Who are the eligible customers to benefit from the complete payments feature? Customers who have previously purchased a property under construction in cash and wish to cover the remaining payments on the property by obtaining financing from Al-Bilad Bank. Does the financing cover the full value of the property?
No, the financing only covers the value of the remaining payments to the real estate developer.
Is there any management fee?The management fee is 1% of the financing amount with cap of  5,000.Who is eligible for the campaign?Customers eligible for REDF subsidy. Does the campaign include all real estate financing products?The campaign only for the Off Plan product. Does the campaign for limited period?Yes
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:
| Off-plan Financing | | Real Estate value | 900,000 | | Finance amount | 90% of real estate value | | Type of profit margin (Fixed or Variable) | Fixed Rate
| | APR | 6.40% | | Management fees | Management fees is 1% of the Financing Amount with Cap. of SAR 5,000 | | Finance duration | 20 years
| Type of installments
| Funding principal and profit
| Finance Amount
| 810,000.00
| Monthly installment during construction period
| 400
| Monthly installment
| 8,576
| Early settlement
| The value of the remaining asset with an additional 3 months earnings
|
completing payments feature
Asset Price
| 1,000,000
| Customer salary
| 12,000
| Amount paid to the real estate developer
| 100,000
| Profit rate type
| Fixed
| APR
| 5.32%
| Tenor
| 20 Years
| Installment type
| Principle and Profit
| Finance amount
| 900,000
| Monthly installment
| 5,659.58
|
Example1: Off Plan beneficiary campaign - Advance Subsidy
(150,000)Asset Price
| 1,000,000
| Downpayment
| 150,000
| Profit rate type
| Fixed
| APR
| 5,33%
| Tenor
| 20 Years
| Installment type
| Principle and Profit
| Finance amount
| 850,000
| Monthly installment
| 5,660
|
Example2: Off Plan beneficiary campaign - Advance Subsidy
(100,000)Asset Price
| 1,000,000
| Downpayment
| 100,000
| Profit rate type
| Fixed
| APR
| 5,32%
| Tenor
| 20 Years
| Installment type
| Principle and Profit
| Finance amount
| 900,000
| Monthly installment
| 5,993
|
Example3: Off Plan beneficiary campaign - Monthly Subsidy
Asset Price
| 900,000
| Downpayment
| 90,000
| Profit rate type
| Fixed
| APR
| 5,33%
| Tenor
| 20 Years
| Installment type
| Principle and Profit
| Finance amount
| 810,000
| Monthly installment
| 5,393 |
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
Through one of the branches of Bank Albilad.Direct sales.Tele sales.
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.
Risk Disclaimer You must review and know the materials used in the construction of the house and take guarantees, if any. It is important for the customer to make sure to pay the dues on time, as the customer's credit record is adversely affected in the event of default or late payment
*Terms and conditions apply The annual percentage rate varies based on the amount and maturity period and Subjected to the customer's credit history |
