Purchasing Readymade Property - Home Finance
Down Payment Subsidy Package
Riyad Bank offers solution for customers who are eligible for housing support from the Ministry of Municipal, Rural Affairs and Housing and the Real Estate Development Fund as one of the optional solutions provided by the Sakani program for subsidized customers, as the package aims to facilitate home ownership for the beneficiary based on his net income with amount up to 150,000 SAR non-refundable for the following home finance products:
- Purchasing ready unit from the market.
- Off-plan home financing
More Information
- Shari’a compliant
- Ability to apply step-down feature upon retirement as to be reduce the installment according to retirement income.
Ability to apply for 2 in 1 feature that allowing the customer to have additional liquidity.
Group (A):
- Customer must be 18 years old and above.
- The customer must be eligible for subsidy from Real Estate Development Fund
- Must be Registered in Sakani advisory portal and select and type of subsidy.
- The customer shall be eligible to grant home finance according to Riyad Bank policy.
- Financing the down payment support shall be one time for the REDF only.
- The beneficiary unable to get advantage of other feature such as considering the subsidy as part of monthly income, Moyasser, monthly subsidy once apply for down payment support package.
- The net salary deposited shall be considered that, including the basic salary plus fixed allowances, subtracted GOSI payment.
- In case of net salary is less than 10,000 SAR, the down payment support is 150,000 SAR.
- In case of net salary is more than 10,000 SAR, the down payment support is 100,000 SAR.
- *All Terms and Conditions apply
Apply Online - Purchasing Readymade Property
Home Finance products from Riyad Bank offer you Shariah-compliant financing solutions based on the principles of Murabaha and Ijara. Customers can purchase the property of their choice with flexible payment plans and competitive profit margins.
