Ready Unit Product:
Ready-made unit product is a product that is based on the concept of Murabaha or leasing, where the bank buys a property according to the customer's request and then sells it / lease it to the customer by monthly installments until the financing is fully paid.
Murabaha Home finance:
The bank will own the property and then sells it to the customer. The customer pays part of the price as a down payment while the remaining payments are paid to SABB by monthly installments over the financing period.
| Murabaha |
|Early Payment Fees ||Monthly Installment* ||Payment Method ||Financing Period ||APR* ||Variable or fixed profit margin ||Max Financing Amount ||Property Value |
|Profits for the next three months ||3,030.00 ||Principal amount plus profit margin || 25 Years ||6.78% ||Fixed || 90% || 500,000 |
|*The annual percentage rate and the monthly installment may change based on the value of the financing, the financing period and the profit margin currently approved by the bank |
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.