Ready Unit

Ready Unit Product:

Ready-made unit product is a product that is based on the concept of Murabaha or leasing, where the bank buys a property according to the customer's request and then sells it / lease it to the customer by monthly installments until the financing is fully paid.

Murabaha Home finance:

The bank will own the property and then sells it to the customer. The customer pays part of the price as a down payment while the remaining payments are paid to SAB by monthly installments over the financing period.


Early Payment 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.

Required Documents

  • Salary introduction letter
  • Salary Transfer Letter
  • Identification card
  • Mortgage application form
  • Medical questionnaire
  • Full Medical questionnaire if the amount above 3,000,000

Product specifications and features

  • Approved by Sharia Board as Murabaha     
  • Easy installments that fit the customer’s obligations
  • Purchase of existing indebtedness.
  • Financing amount up to SAR 7 Million and no less than SAR150,000.
  • A waiver on payment of finance amount remained in case of death or permanent disability –god forbid-.
  • Administrative fee 1% of the value of the financing or SAR5000, whichever is lower, excluding VAT.
  • Minimum Salary starting from SAR3500.
  • Choosing the desired property whether (Villa, Duplex, Town house Apartment).
  • An advance payment 10% for first residence owners and 30% for others.
  • Properties can be financed until the age of 35 at the end of financing, and can be till 40 years if the value of the land is equivalent to 40% of the property value.
  • Finance can be obtained for up to 30 years and no less than two years.
  • 90% of first property value can be financed and 70% of else.
  • Step up payments as per customer obligations. Allow customer to obtain 2in 1 products.
  • Step down payments on retirement- the customer will have a reduced installment after retirement in accordance with the pension
  • Combo gives the customer ability to obtain personal and home finance in case the client approaches retirement age.

Steps to get the product:

  • Apply for home finance.
  • Valuation of the customer‘s financial capacity
  • Initial approval for financing
  • Submit the required documents
  • Real estate evaluation and study of the application
  • Final approval of the financing request