Restoration financing from the Social Development Bank

It is one of the social financing products that aims to help male and female citizens in the process of renovating their homes and completing their construction through easy and quick procedures.

Financing features

• The financing ceiling reaches 60 thousand riyals
• Financing period of up to 4 years
• Payment method is monthly
• No administrative fees
• Exemption in the event of death or total disability, God forbid, according to the terms of the insurance policy

General conditions for financing restoration:

• The borrower's age must not be less than (18) years and not more than (70) years.
• The monthly income should not exceed (14,500 riyals)
• The sponsor's age must not exceed (55) years.
• The applicant for financing must have a home ownership document.
• The minimum age of the house is (5) years.
• If the bank has previously submitted a financing request for the same property, a period of no less than five years must have passed from the date the previous financing was disbursed.
• The land area of ​​the building to be restored should not exceed one thousand square meters (1000 square metres).
• The value of the funding allocated for the restoration of houses built of mud is (18,000) eighteen thousand riyals.
• The maximum limit for financing the restoration of popular homes is (30,000) thirty thousand riyals.
• The maximum financing limit for the restoration of houses built with reinforced concrete is (60,000) sixty thousand riyals.
• A restoration license issued by the municipality.

Provisions for beneficiaries over 60 years of age:

• For the age group over 60 years old and under 65 years old, the maximum financing limit is 30 thousand riyals. If the beneficiary’s age is more than 65 years old and less than 70 years old, the maximum financing limit is 18 thousand riyals.

Your trip in Naein:

1. Request the service and complete the payment
2. We will contact you and send you the requirements
3. We raise the request

comments:

• The terms have been quoted from their source, and the terms may be updated from their source at any time. Please check the source before completing the order.

For more inquiries, please contact us on WhatsApp 0533227672

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