By webadmin, 14 July, 2023

Welcome to Your New Home

This real estate financing product provides residents with the opportunity to obtain their permanent home in the Kingdom smoothly through Bidaya’s digital platform.


 

How It Works:

Our financing is based on Ijarah, the principle of Shariah-compliant rent. Based on your needs, we’ll set up a flexible payment plan over an agreed period of time. At the end of that time, the home title is transferred to your name

Product Benefits:

  • Get up to 3 million SAR funding
  • Flexible payment plans based on your needs
  • Competitive profit margin
  • Inclusive of insurance in case of death, disability, and natural disasters
  • Flexible Financing
  • Terms and conditions apply
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EXPAT PRODUCT
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EXPAT PRODUCT
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Find out more about the Expat Product
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EXPAT PRODUCT
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EXPAT PRODUCT
Product Type
Retail
Weight
5
Eligibility
  • Minimum Residency Period 3 Years
  • Minimum Work Experience 6 months within Saudi Arabia
  • Minimum Income SAR 10,000
  • Minimum Finance Period 5 Years
  • Maximum Finance Period 30 Years
  • Minimum Finance Amount SAR 300,000
  • Maximum Finance Amount SAR 3,000,000
  • Property Age not to exceed 45 years at finance maturity
  • The administrative fee is 1% of the financing amount or 5,000 riyals, whichever is less
  • Premium Iqama holders can obtain property financing for commercial and industrial purposes, while regular Iqama holders can only obtain financing for residential purposes
  • Premium Iqama holders do not require governmental approval or registration when transferring property to the customer’s name

Bidaya Calculators

This Assessment of Eligibility does not constitute and Offer, Financing Approval or Commitment by Bidaya Finance to the applicant. Price declaration examples and calculator results are used for demonstration purposes. Prices may vary for some customers depending on related factors such as credit record etc.

  • The maximum finance amount for first home buyers is 90% of the property’s value.
  • For second home buyers and above, the maximum finance amount is 85% of the property’s value.
  • For DPG beneficiaries, the maximum finance amount is equivalent of 95% of the property’s value.
  • In the case of (Early Settlement), the total early settlement amount reflects the profits of the first 3 months after the end of the second year based on the contract’s start date (months 25,26,27).
  • Prices are reviewed on a monthly bases (last update was on March,2024).
  • The Installment/Rental Installment consists of (Principle + Profit).
Attachments
Product Prices Examples June 2023_2_1.pdf (102.33 KB)

Product Example

Attachments
Click Here For Products Prices Examples ( 8/2023 ) (440.96 KB)