Bank AlJazira now brings you the solution so you can acquire the property of your dreams through "ARM", specialized adjustable Repayment Mortgage program which allows you to obtain Real Estate finance with lower installments in the first period in case you have other liabilities such as Personal Finance or Financial lease and then your Real Estate finance installments will increase once your other liabilities are settled.

Features & Benefits

 

  • Financing up to 85% of Property Value
  • 6 months deferral for the first repayment of the finance
  • Financing up to SR 5,000,000
  • A competitive profit rate,*
  • Ability to obtain Joint Finance with first degree relatives to obtain higher finance amount
  • Finance to buy house or land is possible
  • Takaful (life insurance) in case of death or total disability (God forbid).
  • Property and damage insurance coverage included throughout the finance period
  • Ability to transfer existing liability from other financing institutions
  • Possibility of obtain Personal Finance or Financial lease at same time.

* APR starts from 5.19%.

* Administration and evaluation fees are 1% of the total amount of funding or up to SR 5,000 and subject to 15% Value Added Tax (VAT).

All the fees are subjected to 15% Value Added Tax (VAT)

For Examples of declaration tables click here

Eligibility

 

  • Saudi or GCC national 
  • Good credit history 
  • Minimum age of 21 years 
  • Minimum salary for employee is 6,000 Saudi riyals 
  • For joint Ijara, SR 5,000 Salary per month for Main applicant SR 3,000 for joint applicant 
  • Minimum service of 6 months for private sector staff while no minimum service for Government sector staff 
    • Availability of the title deed (notarized registration)
    • Real-estate located within the city boundaries 
    • Not older than 20 years and 40 years at finance maturity
    • Vacant and ready to move in
    • Copy of ID card or company commercial registration for the owner of the property
    • Identical photocopy of the notarized title deed
    • Sketch of the property location showing its area dimensions as well as name and address of the current owner
    • Municipality clearance (building permit); vacant plots are excluded from this requirement
    • Written price offer by the current owner
    • Copy of last electricity bill (Lands are excluded from this requirement)
    • Copy of ID card or company commercial registration for the owner of the property
    • Identical photocopy of the notarized title deed
    • Sketch of the property location showing its area dimensions as well as name and address of the current owner
    • Municipality clearance (building permit); vacant plots are excluded from this requirement
    • Written price offer by the current owner
    • Copy of last electricity bill (Lands are excluded from this requirement)
    How to apply?

    Easy Steps to Apply for any AlJazira Products or Services:

    To apply for ALJazira Product or services just follow the simple steps below. Our ALJazira staff will be happy to assist you.

    Online Application Form:

    Just fill in our online form and an AlJazira representative will contact you.

    Give us a call at

    800 244 9999

    and our specialist Agents will be ready and happy to assist you in answering all of your questions about our products and services and assist you with the application process.

    Visit the Branch:

    Visit our nearest branch and our Customer Service Representative will answer all your questions and assist you with the application process.

    to locate our branches.

    Risks related to the mortgage product

    Real State Finance

    Home Finance Calculator

    This calculator will help you decide whether it make sense to rent or buy a home based on your current rent payement

    Real Estate Finance Calculator

    This calculator will help you decide whether it make sense to rent or buy a home based on your current rent payment.

    This calculator will help you decide whether it makes sense to rent or buy a home based on your current rent payment

    *Please note that these are initial calculation and it does not represents final approval

     

    This calculator helps you determine the monthly payments amount based on requested value.

    *Please note that these are initial calculation and it does not represents final approval

     

    This calculator will help you decide whether it makes sense to rent or buy a home based on your current rent payment.

    *Please note that these are initial calculation and it does not represents final approval

     

     
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    Bank AlJazira, A Saudi Joint Stock Company, Fully paid capital SAR 10,250,000,000, Commercial Registration No: 4030010523, Head office: Jeddah – Saudi Arabia, P.O. Box 6277
    Jeddah 21442 Telephone: +966 12 609 8888 – Fax +966 12 609 8881, National Address: Bank AlJazira – King Abdulaziz Branch Rd – Ash Shati District Building No. 7724
    Zip code 23513, Additional No. 3551, unit No.1 Website: www.baj.com.sa, Bank AlJazira is under the supervision of Saudi Central Bank