Minimum Finance Amount 350,000 Maximum Finance Amount 7,000,000 Minimum Repayment Period 5 years Maximum Repayment Period 30 years Features & Benefits Shariah-Compliant Shariah-compliant based on Murabaha. REDF Elegibility Includes access to Madoom and Moyassar benefits, fully compliant with SAMA guidelines. No Down Payment Required No down payment. The property value will be considered as your down payment. Disbursement Schedule Disbursements are subject to construction progress being completed within 36 months from the first financing disbursement. Home Finance Calculator Example Breakdown Enter the details below to view your monthly installments, finance amount, annual profit rate, and flat rate. Is this your first house? Yes No Property Price Monthly Salary Finance Tenor (years) Years Years Months Years Months Monthly Expenses Monthly Installment 0.00 Estimated monthly instalment for this property Maximum Finance Eligibility 0.00 Annual Profit Rate 0% Flat Rate 0% Apply Now Reset Calculation Please note that these are simulated amounts representing approximate numbers only, without taking into account your monthly obligations and credit bureau results. Maximum age at maturity is 70 years. If the finance period exceeds your retirement age, eligibility will be based on your projected pension salary. For exact figures please call 800-124-8000 or visit your nearest SIB Branch. All personal financings are subject to credit approval. Property Evaluation 500,000LTV90%Term Cost TypeFixedAnnual Percentage Rate (APR)7.40%Finance Tenor15 yearsPayment MethodMonthly Deduction from Customer's SalaryMonthly Installment Amount 4,037.18Early Settlement Amount1-2 Years: Total profit amount of the 1st two years. After 2 years: Profits of the 3 subsequent installments. *The Annual Percentage Rate (APR) may differ based on the amount and maturity period. Eligibility Criteria & Fees Required Documents Service Standards Nationality Applicants must be Saudi citizens. Age Applicants must be at least 21 years old, with a maximum age of 75 at maturity. REDF Requirements Applicants must be listed in the financing records of REDF and the Ministry of Housing. Tranche Adjustment Based on Land Value If the initial 15% tranche is higher than the land value, the lower of the two amounts will apply. Employment Applicants must be employed by a company included in the bank’s approved list, or be retirees from the government, military, or private sector. Service Period Government Sector: 1 month with current employer.Private Sector: 3 months with current employer. Account Requirement An active Salary Account with The Saudi Investment Bank is required. Fees Administration Fee: 1% of the financed amount applies, up to a maximum of $5000. View full Terms & Conditions and Risks of Home Finance Finance Form Complete and sign the official financing request form provided by the bank. Employer Introduction Letter Provide an official letter from your employer confirming your salary, allowances, and date of joining. 3-Month Bank Statement Submit an account statement for the last 3 months showing salary deposits, verified by the previous bank (private and military sectors only). Construction Plan Provide a detailed construction plan approved by the relevant authorities, if applicable. Land Title Deed Copy Provide a copy of the land title deed to verify property ownership. Salary Transfer Letter Submit a letter confirming the transfer of your salary to SIB. Employee ID Card Copy Provide a copy of your Employee ID Card indicating your rank or position. (For armed forces applicants, if applicable. The original may be required for verification). View full Terms & Conditions and Risks of Home Finance Approval in principle within 24 hours (subject to complete documentation). Completion of final approval and all related procedures within 12 working days provided all required documents are submitted on time. View full Terms & Conditions and Risks of Home Finance Frequently Asked Questions How much financing can I get with Self-Construction Finance? You can apply for financing starting from $350,000, up to a maximum of $7,000,000, subject to the approved construction cost and product terms. How much financing can I get for a unit under construction? You can apply for financing starting from 350,000, up to a maximum of 7,000,000, subject to the approved construction value and product terms. What is the maximum financing tenure? The financing tenure starts from 5 years and can extend up to 30 years, based on the selected financing amount and terms. Is a down payment required for Self-Construction Finance? No. Self-Construction Finance does not require a down payment, as the financing is based on the approved construction cost. How is the financing amount disbursed? The financing amount is disbursed in stages, based on the progress of construction on your land. Each disbursement is linked to the completion of a specific construction milestone. Can I manage construction payments through my account? Yes. Construction-related payments are managed through your account, allowing you to track disbursements and payments as construction progresses, in line with the agreed financing plan. What types of construction expenses can be covered? Self-Construction Finance can be used to cover approved construction-related expenses, including building works and associated costs, depending on the agreed scope of construction. When is the construction considered complete? Construction is considered complete once all building works are finished in line with the approved construction plan and agreed milestones. We’re Always Within Reach Stay connected to your banking, through our customer care team, digital channels, and branches everywhere. Customer Care Submit inquiries, raise complaints, and access support anytime. /customer-care Branches & ATMs Easily locate branches and ATMs wherever you are. E-Banking Services Bank smarter and faster with our secure digital platforms. /personal/e-banking-services