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A product to finance ready-made (villa, apartment, building) or one of Ministry of Housing projects subsidized up to 500,000 SR shariah compliant and provided to REDF and Ministry of Housing beneficiaries.
It is a Murabaha based product at SAB, where the bank purchases the property at the customer’s request and lease it to the customer by monthly installments until the amount is fully paid.
Murabaha Home finance
The bank purchases the property and sales it to the customer. The customer pays a part of the purchase price in advance while the balance is payable to SAB in monthly instalments over the finance period.
Example
| Murabaha |
|||||||
| 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.
Required Documents
Product specifications and features
Steps to get the product
Home Finance Calculator
How much you would like to borrow?
Instalment Amount :
SRMax Finance Amount
SR
%
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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