Land Plot

Features & benefits

• Approved by the Shariah Supervisory Board.
• Finance up to SR 3 million.
• 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.
• Fixed profit rate. 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.

Eligibility

• You should be a Saudi national who is at least 21 years of age.
• You should be working for a Samba-approved government or semi-government for at least one month.
• You should be working for a Samba-approved private sector for at least 3 month.
• Your monthly salary should be at least SR 3,000.

Conditions – Plot of Land

• It should not be mortgaged to any party.
• It should be in a residential area (availability of facilities are not required if it is inside urban range).
• It should not exceed 1,500 square meters in area.

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

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.