Shariah compliant financing based on Murabaha.
Down payment coverage by REDF
Down payment coverage by REDF up to SAR 140,000 for military personnel only.
Down payment requirement of 10% for first house or 30% for any additional property (in excess of REDF’s support amount)
REDF will cover profit portion of the finance up to a maximum finance amount of SAR 500,000 through Madoom Program
Takaful Life Insurance
Free Takaful life coverage against death or permanent disability, God forbid, without any medical test for finance up to SAR 2,500,000
Free Property Takaful coverage against fire and natural disasters such as floods, storms, earthquakes and resulting damages
Maximum debt burden ratio (DBR) is 65% out of the gross income