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 6.86% 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).