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Subsidized Financing Program

 

A Subsidized Financing Program with the cooperation of Real Estate Development Fund designed to finance citizens on residential housing subsidy lists.

 

 

Advantages :

 

- Sharia compliant financing products in the form of Ijara Mousofa fil Thimmah with the promise to grant or Ijarah with the promise of gift (hibbah)

- Financing up to 4 million Saudi riyals

- Competitive profit rates

- Financing period up to 30 years

- No salary transfer is required

- All financing profit is covered by the Real Estate Development Fund for customer with a salary less than SR 14,000.

- Takaful insurance on the property against fires and natural disasters*

- Exemption in case of total disability or natural death - God forbid -*

 

 

 

 Conditions :

 

  Citizens
Age 21 Years
Monthly Income Starting from 8,000 SR
Length of Service 3 Months
Property Type

Villa, duplex, apartment, fully built or under construction by an authorized developer

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Terms and conditions apply.

The Annual Profit Rate (APR) starts from 6.97%.

 

 FAQ :

How can I calculate the value of the subsidy?
By visiting Amlak International branch.

What is the maximum amount of subsidized financing?

The maximum amount of subsidized financing is 500 thousand riyals.

Can I get more than SR 500,000 financial real-estate?

Yes, up to 4 million riyals, and the subsidy will be calculated on the amount of 500 thousand riyals only

What is the subsidy transfer mechanism?

The subsidy will be transferred directly to the customer's account on monthly basis through Real Estate Development Fund.

Is early settlement possible?

Yes, by post two years from the start of funding.

How is the early settlement amount calculated?

Yes, after two years of the financing period once a year, partial settlement amount cannot exceed 30% of the outstanding principal.

Is partial settlement possible?

Yes, after two years of the financing period once a year, partial settlement amount cannot exceed 30% of the outstanding principal.

 

How do I apply for a finance?

You can apply for a finance through one of the following options:

- Apply online

- Contact Amlak at 920026525

- Visit one of Amlak's branches

 

 

 

 

Required documents

Apply now

Real-estate projects

 

 

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