Residential Finance: Requirements

To apply for SNB Home Finance, you will need:

  • To be between 20 - 75 years old.
  • To be a Saudi National.
  • A minimum monthly income of SR 3,000.
  • To have been continuously employed for a minimum of 1 month.
  • 10% to 30% down payment depending on the customer's sector, credit status and type of property.
  • To transfer your salary to SNB.


Property Requirements:

  • The property must not exceed 45 years old upon completion of the financing tenure.
  • The property (Villas & Apartments) must be vacant (ready for occupancy).
  • Property must be located in one of the following cities: Jeddah, Al Khubar, Makkah, Yanbu, Najran, Khamis Mushyt, Madinah, Qatif, Rabig, Abha, Al Taif, Tabuk.

All property is subject to approval by SNB appraisers.



Own your home in three easy steps:


1. Preparation

  • Gather all required documents
  • Check Customer Credit Rating with SIMAH
  • Valuation of Property
  • Pay both the Transaction and Down Payment fees


2.Purchasing the property

  • Sign the client's request for either Murabaha or Ijara financing
  • Pay property price
  • Transfer Title of Ownership to SNB


3. Transfer of property

  • Sign contract for either Murabaha or Ijara financing
  • Property is handed over to you


* Terms and conditions apply

** Annual Percentage Rate starts from 4.74% calculated on the amount of funding 590,000 Riyals for a period of 5 years, including management and assessment fees (1% of funding or 5000 Real value, whichever is less).