Ready/ Under Construction Apartments
We understand how important it is for you to own a residential apartment. We also understand that home financing should be Shariah-compliant, simple, convenient and transparent.
Features & Benefits
- Approved by the Shariah Supervisory Board.
- Finance up to SR 3 million.
- Finance up to 85% value of the(Apartment) for the first house.
- Repayment period up to 25 years.
- No guarantor required.
- An option of joint ownership with a first-degree relative to get a higher finance amount.
- You can repay earlier than the tenure you have availed.
- Peace of mind
- Fixed profit rate. With Bayt Al-Khair your profit rate will never change during the entire tenure of the finance and therefore your monthly installment will never change.
- In case of death or permanent total Medical disability, God forbid, all outstanding amounts will be considered paid subject to terms and conditions of insurance policy.
- Free Takaful property insurance.
- You should be a Saudi national who is at least 22 years of age.
- You should be working for a Samba-approved government, semi-government or private employer for at least one year.
- Your monthly salary should be at least SR 5,000.
Conditions - Apartment
- It should be free from any litigation.
- It should not be older than 20 years.
- It should be unoccupied.
How to apply?
To avail of a Bayt Al Khair finance from Samba:
- Call SambaPhone toll-free on 800 124 1010.
- Visit a Samba branch.
- Completed Application form.
- A clear photocopy of a valid ID.
- Certificate of employment stating job title, joining date, monthly income and allowances, if any.
- Salary transfer letter from the employer.
Required property documents for initial approval
- Authenticated copy of the estate title.
- A clear location map of the property.
- Segmentation report, if the land deed contains more than one property.
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