This finance product enables you to have cash Equity Release Financing as a finance option offered to all Alinma Customers (subsidized and non-subsidized).
Features that meet your needs:
- Fully Sharia’h-compliant finance based on Murabaha (shares/goods).
- Providing an initial finance calculation.
- Freedom to choose the property to be mortgaged (completed unit, land)
- Financing up to 90% of the value of the mortgaged property.
- Financing up to SAR 10 Million.
- Possibility of financing non-accredited entities.
- Settlement period up to 25 years.
- Possibility of applying the flexible installment feature.
- Acceptance of real estate all over the Kingdom.
- Finance without salary transfer.
- Early payment option.
- No down payment.
- No Property transactions tax.
- Exemption of beneficiaries in case of death or total disability, God forbid (terms and conditions apply).
- Profit margin starting from 2.99% and APR 5.62%
Easier Requirements for a Better Service:
- Opening a current account with the Bank.
- Credit approval.
- National ID.
- Salary certificate.
- Real estate finance request form.
- Real estate details form.
- Copy of the real estate deed.
- Real estate location sketch.
- Building permit.
Or through the following channels:
- Alinma phone (8001208008).
- Alinma branches.
* Terms and conditions apply.
*Note: The Equity Release Finance product may carry certain risks related to the product, such as, but not limited to, the property being part of the seized assets. By submitting your financing application, you acknowledge your full awareness of the risks associated with this product.