Tamalak Land

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Tamalak Land

 

A financial product designed to own a residential or commercial land .

 

 

Advantages :

 

- Financing in the form of  Ijarah with the promise of gift (hibbah) in accordance with sharia principles

- Financing for all government, semi-government, private sectors, banks and self-employed

- Financing up to 5 million Saudi riyals

- Financing period up to 20 years

- No salary transfer required.

- Possibility of early or partial settlement.  

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

- The customer can lease the property to another party after approval of "Amlak International"

 

 

 Conditions :

 

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

residential or commercial land whether 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

*Terms and conditions apply.

APR annual profit margin starts from 5.83%

 

 

 FAQ :

 

Is the product Sharia compliant?

Yes, all Amlak international products are approved by Shariah Board.

 

What is meant by Land Under Infrastructure Services?

Is the land for which basic services are not available (electricity, water, sewage, etc.).

 

Is early settlement possible?

Yes, after two years from the start of the finance .

 

How is the early settlement amount calculated?

The amount of early settlement equals the remaining principal amount of the finance at the time of settlement and the profit margin of the next three instalments.

 

Is partial settlement possible?

Yes, once a year after two years of the financing period

partial settlement amount shall not exceed 30% of the remaining principal amount .

 

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

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