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العربية
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It is a product based on the concept of Tawarruq which subsidized profits for up to 500,000 SAR in compliance with the provisions of Sharia, the beneficiaries are provided by the Real Estate Development Fund (REDF) and the Ministry of Housing. So, that the customer gets the amount of the mortgage then the land or real estate was mortgaged as a guarantee until the full amount is paid.
Product concept:
SAB owns metal purchased from the global market and sells them to customers as agreed upon fixed profit rate, soon after purchasing metals from SAB, by issuing an official power of attorney for SAB, the customer can sell metal at the prevailing prices then obtain financing amount, and the land is mortgaged as a guarantee until the full amount is paid.
Example:
| Tawrruq |
|||||||
| Early payments fees | Monthly Installment* | Payment Method | Financing Period | APR* | Variable or fixed profit margin | Max Financing Amount | Property Value |
| Profits for the next three months | 3,030.00 | Principal amount plus profit margin | 25 Years | 6.78% | Fixed | 90% | 500,000 |
| *The annual percentage rate and the monthly installment may change based on the value of the financing, the financing period, and the profit margin currently approved by the bank | |||||||
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.
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Required Documents
Product specifications and features
Product Obtaining Steps
Home Finance Calculator
How much you would like to borrow?
Instalment Amount :
SRMax Finance Amount
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%
Down Payment:SR
%
Profit:SR
Disclaimer: Please note that above is only an indicative calculation as the rates may differ.
Kindly visit the branch or call us on 800 124 8888 for more details.
Instalment Amount :
SR
Max Finance Amount
Down Payment:
Profit:
Disclaimer: Please note that above is only an indicative calculation as the rates may differ.
Kindly visit the branch or call us on 800 124 8888 for more details.
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