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).
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 .
- Pay property price
- Transfer Title of Ownership to SNB
3. Transfer of property
- Sign contract for either Murabaha or Tawaruq
- 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 for a period of 5 years, including management and assessment fees (1% of funding or 5000 Real value, whichever is less).