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The down-payment subsidy package is introduced by Real Estate Development Fund (REDF) aiming to facilitate home ownership by providing non-refundable financial subsidy of (SAR 100,000 or SAR 150,000).

Program features:

  • Competitive Profit Margin.
  • Cover the down-payment (fully or partially).
  • Non-refundable subsidy up to SAR 150,000 depending on beneficiary’s net income.
  • Applies for Ready Units and Off-Plan products.

Terms and Conditions:

  • Meeting eligibility criteria of REDF. 
  • The minimum age is 18 years and not to exceed 70 years at finance maturity.
  • The minimum net salary is SAR 5,000.
  • The beneficiary is eligible for one subsidy program only.
  • The beneficiary provides the remaining amount of the down payment in the event that the total down payment is higher than the subsidy amount (SAR 100,000 or SAR 150,000).
  • Beneficiary edibility criteria should comply with SAMA regulations.

Risks related to the mortgage product

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Bank AlJazira, A Saudi Joint Stock Company, Fully paid capital SAR 8,200,000,000, Commercial Registration No: 4030010523, Head office: Jeddah – Saudi Arabia, P.O. Box 6277
Jeddah 21442 Telephone: +966 12 609 8888 – Fax +966 12 609 8881, National Address: Bank AlJazira – King Abdulaziz Branch Rd – Ash Shati District Building No. 7724
Zip code 23513, Additional No. 3551, unit No.1 Website: www.baj.com.sa, Bank AlJazira is under the supervision of Saudi Central Bank