A finance product that enables you to own a property unit (before or during the construction phase) from the Bank’s approved projects list, in Murabaha basis as a finance option offered to all Alinma Customers (subsidized and non-subsidized).
Features that meet your needs:
- Fully Sharia’h-compliant finance based on Murabaha (goods).
- No property evaluation required.
- Lower installment during the construction phase (maximum 36 months).
- Freedom to choose appropriate unit from accredited projects.
- Construction under the supervision and follow-up of WAFI committee of the Ministry of Municipal Rural Affairs and Housing Financing up to the age of 75 years.
- Financing up to SAR 10 Million.
- Possibility of financing non-accredited entities.
- Settlement period up to 25 years.
- Possibility of applying the flexible installment feature.
- Financing without salary transfer.
- Early payment option.
- Exemption of beneficiaries in case of death or total disability, God forbid (terms and conditions apply).
- Profit margin starting from 2.99% and APR 5.62%
Easier Requirements for a Better Service:
- Opening a current account with the Bank.
- Credit approval.
- National ID.
- Salary certificate.
- Real estate finance request form.
- Property quotation by one of the approved projects
- Istisna’a contract signed by the accredited real estate developer.
Or through the following channels:
- Alinma phone (8001208008).
- Alinma branches.
* Terms and conditions apply.
*Note: The Off-Plan Property Purchase product may carry certain risks associated with the product, such as, but not limited to, changes in the project delivery date. By submitting your financing application, you acknowledge your full awareness of the risks associated with this product.