For the first time in the Kingdom’s housing sector, Bank Albilad announces the launch of the final payment real estate financing product as an exclusive programme. This is in addition to the real estate financing programs that the Bank offers as innovative solutions to beneficiaries to provide necessary funding to help households buy houses.
The Bank has emphasized the continuation of its efforts to offer innovative solutions and qualitative real estate financing programs aimed at providing housing options which perfectly suit the Saudi family’s needs. Meanwhile, the Bank carries on activating housing financing programs supervised by the Ministry of Municipal and Rural Affairs and Housing through the initiatives and programs of the Real Estate Development Fund and the National Housing Company.
The real estate financing program provides a final payment of up to 50% of the value of the property. This reduces the monthly installment payable by the customer and allows for a larger financing amount. The Bank offers multiple financing solutions such as financing ready-made units purchase, the off-plan sale product, the Advance Subsidy program and other real estate financing programs at competitive prices.
As the first Saudi bank, Bank Albilad provided a non-refundable advance subsidy product with a value of SR 150,000 to “Sakani” beneficiaries as part of the benefits of the advance subsidy program. This program is one of the innovative solutions to facilitate the citizen’s ownership of the housing unit. The Bank also offers the product of purchasing a residential unit under construction or the so-called “off-plan sales” to enable beneficiaries to obtain their dream houses during the development or construction phase.
It is worth noting that Bank Albilad is rightly proud to implement the real estate financing application process for beneficiaries within 5 working days. This qualified the Bank to win the Best Financing Agency Award in terms of Customer Experience. This came in recognition of its leading role in the real estate financing sector and the development of the housing sector. In the meantime, the Bank excelled in customer order processing at a rate of 100%, reflecting its banking leading position as one of the best financing agencies in terms of Customer Experience.