Restoration
Loan

One of the social financing products that targets citizens to help them in the process of repairing and rebuilding homes through easy and fast procedures.
Product's Video - with Sign Language

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  • The financing ceiling is up to 60,000 riyals
  • Financing period up to 5 years
  • Payment method on a monthly basis
  • No administrative fees
  • Exemption in the event of death or total disability, God forbid, according to the terms of the insurance policy

  • The age of the borrower should not exceed 70 years and the sponsor 55 years.
  • ​​The monthly income should not exceed 14,500 riyals.
  • A home ownership deed is required for the financing applicant.
  • The minimum age of the house is (5) years.
  • At least one year has passed since the transfer of ownership of the property, but if the transfer of ownership of the property is between first-degree relatives, at least two years must have passed since the transfer of ownership.
  • ​In the event that the bank previously submitted a financing request for the same property, a period of no less than eight years must have passed from the date of the previous financing disbursement.
  • The land area of ​​the building to be restored should not exceed (1000 square meters).
  • ​The amount of financing allocated for the restoration of houses built of mud is (18,000) eighteen thousand riyals.
  • The maximum limit for financing the restoration of cultured homes is (30,000) thirty thousand riyals.
  • The maximum limit for financing the restoration of houses built with reinforced concrete is (60,000) sixty thousand riyals.
  • Relatives of the first degree are parents, sons, brothers, sisters, and wives.
 
  • Conditions for beneficiaries over 60 years old:
  • The age group is over 60 years old and less than 65 years old, the maximum financing limit is 30 thousand riyals. In the event that the age of the beneficiary is greater than 65 years and less than 70 years, the maximum financing limit is 18 thousand riyals.

  • Customer national ID photo
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by a commercial bank or company
  • A valid copy of the restoration license from the municipality
  • IBAN account number endoursed by the commercial bank
  • Account statement for the last 3 salaries certified by the Commercial Bank
  • A copy of the inheritance deed in the event that there are heirs or partners
  • A waiver and an authorization form in case there are heirs or partners signed by all the heirs or partners and certified by the mayor and the police
  • Copies of the national IDs of all the heirs or partners
  • Copies of the identities of the witnesses who signed the waiver and an authorization form

  • Customer national ID photo
  • A definition of the pension salary from the General Organization for Social Insurance website
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by a commercial bank or company
  • A valid copy of the restoration license from the municipality
  • A copy of the sponsor's ID
  • Detailed salary definition of the sponsor, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
  • IBAN account number endoursed by the commercial bank
  • A copy of the inheritance deed in the event that there are heirs or partners
  • Original waiver and authorization form in case there are heirs or partners signed by all the heirs or partners and certified by the mayor and the police
  • Copies of the national IDs of all the heirs or partners
  • Copies of the identities of the witnesses who signed the waiver and authorization form

  • Customer national ID photo
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by a commercial bank or company
  • A valid copy of the restoration license from the municipality
  • Certificate of duration and joint wages from the Social Insurance website.
  • The IBAN account number on the bank's official letterhead certified by the commercial bank
  • Account statement for the last 3 salaries certified by the Commercial Bank
  • A copy of the inheritance deed in the event that there are heirs or partners
  • A waiver and authorization form in case there are heirs or partners signed by all the heirs or partners and certified by the mayor and the police
  • Copies of the IDs of all the heirs or partners
  • Copies of the identities of the witnesses who signed the waiver and authorization form

  • Customer national ID phot
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by a commercial bank or company
  • Family record photo
  • IBAN account number endoursed by the commercial bank
  • Account statement for the last 3 salaries certified by the Commercial Bank
  • A valid copy of the restoration license from the municipality
  • A copy of the inheritance deed in the event that there are heirs or partners
  • A waiver and authorization form in case there are heirs or partners signed by all the heirs or partners and certified by the mayor and the police
  • Copies of the IDs of all the heirs or partners
  • Copies of the identities of the witnesses who signed the waiver and authorization form

  • Customer national ID photo.
  • An original detailed salary statement for the client certified by the Chamber of Commerce, not exceeding 60 days from the date of his signature
  • Certificate of duration and joint wages from the client's social insurance
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by a commercial bank or company
  • A valid copy of the restoration license from the municipality
  • A copy of the sponsor's ID
  • Detailed salary definition of the sponsor, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
  • IBAN account number certified by the commercial bank
  • A copy of the inheritance deed in the event that there are heirs or partners.
  • A waiver and authorization form in case there are heirs or partners signed by all the heirs or partners and certified by the mayor and the police.
  • Copies of the IDs of all the heirs or partners.
  • Copies of the identities of the witnesses who signed the waiver and authorization form.

  • Customer national ID photo
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by a commercial bank or company
  • A valid copy of the restoration license from the municipality
  • A copy of the sponsor's ID
  • Detailed salary definition of the sponsor, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
  • IBAN account number certified by the commercial bank
  • A copy of the inheritance deed in the event that there are heirs or partners
  • A waiver and authorization form in case there are heirs or partners signed by all the heirs or partners and certified by the mayor and the police
  • Copies of the IDs of all the heirs or partners
  • Copies of the identities of the witnesses who signed the waiver and authorization form

  • Customer ID photo
  • A copy of the house deed on both sides, or a copy of the ownership contract in case the house is owned by commercial bank or company
  • A valid copy of the restoration license from the municipality

Repayment begins 30 days after receiving the financing amount
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Target Audience
Citizens
Beneficiaries
96K
Service Fees
Free
Response Time:
24/7
Submission channels:
 
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Submission language:
Arabic
User's guide:
Create Online Account 
User Guide
Service application start date
    2011  114-200.png    2022   m-icon2.png       
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Internal Strategic Engagement

Restoration financing intersects with one of the bank's strategic goals. Providing meaningful and effective social financing to serve the beneficiary segments

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International strategic link

Restoration financing intersects with the first goal of the United Nations Sustainable Development Goals. It can be viewed here

Product Features

Loan Ceiling
Up to 6K SAR

Loan Duration
Up to 5 years

Payment Method
Monthly

Administrative fees

None

Exemption according to the insurance policy's terms

Upon death or total disability

Customer Journey

Submit Application

Eligibility Check

Processing

Deposit

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If you have any questions regarding the Restoration Loan, please see the Frequently Asked Questions.
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