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.

  • Convenience
    • Approved by the Shariah Supervisory Board.
    • Finance up to SR 3 million.
    • Finance up to 70% of the property value (Apartment).
    • 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.

To avail of a Bayt Al Khair finance from Samba:

Required documents

  • 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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