Al ASALAH Murabaha Home Finance

Al ASALAH Murabaha Home Finance

The features you need to know:

Completed Properties

Finance available for completed properties (Villas, apartments, Duplex) and land.


Guarantor not required.

Down Payment

Minimum down payment 10% For the first property purchase price or 30% for the second property or more.

WooW Points

WooW points which you can redeem against various unique gifts, gift cards, travel miles, cash to your SADAD Account and much more from WooW e-catalog

Takaful Life Insurance

Free Takaful life insurance coverage against death or permanent disability without any medical test for finance up to SR 2,500,000.


ALASALAH Murabaha Home Finance is an Islamic home financing product approved by SAIB’s Shariah Committee. The Murabaha is a contract wherein the bank buys the property, based on your request and subject to a monthly payment plan and a fixed profit rate for the whole financing period. The Bank will release mortgage on the property once all monthly payments have been paid.

Al ASALAH home finance is available for completed (Villas, Apartments, Doplex) and land (ready for occupancy) and lands within urban areas only.

Free Takaful Home insurance coverage against disasters, such as fire, floods, storms, earthquakes, and others, and damages arising from such.

Payment period


Finance amount


Please make sure you have the following requirements:


To apply for a SAIB ALASALAH Home Finance you must meet the following eligibility criteria:

  • Be a Saudi Citizen
  • Be at least 20 years of age.
  • Maximum age (as at maturity of the Finance) of 70, Considering the retirement age of the military personnel
  • Work for an employer included in the Bank’s approved list.
  • Have a basic salary of at least SAR 12,000 per month
  • For joint finance, both the borrower and co-borrower must assign salary to an account with The Saudi Investment Bank
  • The customer must have a salary account at The Saudi Investment Bank
  • Service period:
    For Government Sector: 1 months with current employer
    For Private Sector: 3 months with current employer
  • Minimum Property size = 80 square meter

Kindly note that all finance facilities are subject to SAIB credit approval and SIMAH (Saudi Credit Bureau) verification.


  • Complete Home Finance application form.
  • Introduction letter from employer, which would typically include salary, allowance details, and date of joining.
  • Salary assignment letter addressed to the Bank, which would include salary account number and date of salary transfer.
  • Copy of a valid National ID (to be taken after sighting the original)
  • Additional documents will be required for the selected property. These, however, may vary by property type. Please contact us for more details.


For more information and details, please contact us at:



Standard SAIB loan administration fees. (1% of the finance amount up to a maximum SAR 5000) will apply.

The SAIB ALASALAH Home Finance facility comes with a complimentary salary account with no minimum balance requirements. The account also offers free cheque-book, mada Debit Card from The Saudi Investment Bank and access to SAIB Flexx Click Internet Banking, Flexx Call contact center and SMS Banking facilities..


  • Approval in principle within 24 hours (subject to complete documentation)
  • Completion of final approval and all related procedures within 12 working days provided all required documents are submitted on time.

An example of information that will be obtained when applying for a product

Property evaluation (SAR) 500,000
LTV % 90
Type of term cost Fixed
APR % 6.07
Finance Tenor (Years) 15
Payment method Monthly deduction from customer's salary
Monthly Installment Amount (SAR) 3,413.91
Early settlement amount 1-2 Years: Total profit amount of the 1st two years After 2 years: profits of the three subsequent installments

*The Annual Percentage Rate (APR) may differ based on the amount and maturity period.

The calculator provides estimates only.
Your Age
20 Years
Property Price
Gross Income
Repayment term
First House
Down Payment
Monthly obligations
For exact figures please contact Flexx Call contact center at 800-124-8000
or visit your nearest SAIB Branch.
All personal financings are subject to credit approval.

Is the SAIB ASALAH home finance product Sharia'a compliant?

Yes. The SAIB ASALAH Home finance product is Sharia’a compliant and has been designed on the basis of Islamic principles.

Who is eligible for AL ASALAH Home Finance?

To apply for this facility you need to meet the following eligibility criteria:

  • Be a Saudi Citizen.
  • Be at least 20 years of age.
  • Maximum age (at maturity) of 65, Considering the retirement age of the military personnel.
  • Work for an employer included in the Bank’s approved list.
  • Have a basic salary of at least SAR 12,000 per month
  • Transfer salary, supported by a salary assignment letter from your employer, to your account with SAIB.
  • Have a minimum length of service period with current employer of at least 3 months.

What happens if I want to sell the property before the financing is paid off?

You would need to make an immediate repayment of the principal outstanding amount and we may offer you a discount on the outstanding profit.


How much Financing am I eligible for?

You can avail financing up to a maximum limit of SAR 5,000,000.

What is the minimum amount I can get?

Minimum amount is SAR 250,000.

What type of properties do you finance?

We provide home finance for the purchase of Lands as well as ready property (Villas, Apartments and Duplex) with no minimum area size required.

How long can the term of financing be?

We can provide financing with tenors up to 30 years.

Can I repay my financing early?

Yes, you may repay your financing early. As this is a Sharia'a compliant product, you do not have to pay penalty charges for prepayment and we can offer you a discount on the outstanding profit .

Do I need insurance, and if so, what kind?

No, as part of our extra benefits, we provide Free "Property Takaful", as well as a Free "Takaful Life Coverage".

What are the documents required?

  • Finance application form
  • Introduction letter from employer.
  • Salary assignment letter addressed to the Bank.
  • Copy of a valid National ID (to be taken after sighting the original).

How long does it take to get the Finance?

  • SAIB guarantees in-principle approval within one business day (subject to complete documentation).
  • Final approval within 12 business days (subject to complete documentation).

How do I apply?

Please click here or contact our Flexx Call contact center at 800 124 8000 .