Property Power

The strength of collateral

It is a personal financing product secured by the property collateral owned by the prospect customers. The property might be a Land, Villa, Apartment & or building where the customer can lien his property that has a clean title deed

Terms and Conditions

  • Terms and Conditions
    • For Saudi nationals only
    • Minimum Salary of SAR 5,000 for government employees & SAR 7,500 for private companies
    • Length of service must be 6 months for government employees and 12 months for private companies
    • Loan tenor including retirement age:

      For government and semi-government employees, 20 years for completed properties and 15 years for residential land
      For private sector companies, 15 years for completed properties and 10 years for residential land

    • Customer Age Criteria:

      Minimum Age 21 Years
      Maximum Age 60 Years (or as per the retirement age for those in the military)

    • Loan To Value Ratio’s Criteria:

      For completed properties 70% LTV
      For land, 60% LTV

    • Financing Amount Criteria:

      Minimum Finance of 200K
      Maximum Finance up to 3 Million 

    • Repayment Criteria:

      Monthly deductions from assigned salary account

    • Other Income Criteria:

      Other proven income can be considered subject to a cap of 50% of said income

  • Required Documents

    Customer Documents:

    • Application Form
    • Salary Certificate sealed by your employer
    • Verified copy of your national ID
    • Salary Assignment letter in favor of ARB/customer current account or an approved SAREA form

    Property Documents:

    • Copy of Title Deed (both sides)
    • Copy of Building permits (both sides)
    • Property location sketch diagram
    • In case of LAND, if the dimensions are different between the title deed and the ground, a letter from the municipality must be obtained


  • Can I avail is finance against a property that I bought via installments?
    No, you cannot
  • Can I avail is finance for a property that I am currently living at?
    Yes you can
  • Can I rent the property during the finance tenor?
    Yes you can , subject to take bank consent approval.
  • Can I avail is finance without assigning my salary to the bank?
    No, you cannot.
  • Does the bank consider property income in case it's leased?
    No, the bank will not consider the property income.
  • Does the bank provide property insurance to the financed property?
    No, there will be insurance cover to the financed property.
  • Does the finance eligibility calculated on the basis of the property value or on the basis of the income eligibility?
    The finance eligibility is calculated in both combinations (whichever is the lower)
  • Does the eligibility calculated based on the total income or the net income?
    The finance eligibility is calculated based on the net income & not on the total income
  • In case of early settlement, is this option allowed?
    Yes it is allowed during the life of contract