Home Finance

Home Finance

Helping you buy your dream home today

With meem, you can make owning your home a reality easily with our innovative Home Finance solution and easy application process to help you establish a stable and secure future for you and your loved ones

We cater to a range of customer needs, whether buying ready units or through the Ministry of Housing Real Estate Development Fund, we have the solution for you

I want

Features and Benefits

Shariah Compliant financing programs based on the principles of Murabaha

Quick and easy application process

Flexible installment plans to suit your needs

Competitive profit rates

Fully digital journey including E-title deed transfer

Peace of mind with credit life cover in the event of death or permanent total disability (God forbid)

Finance amount up to SAR 5 million

Annual Percentage Rate (APR) starting from *4.68%

Admin fees of 1% or SAR 5,000, whichever is less

Credit counselling services are provided throughout the application process, to help you assess product risks and make an informed and effective decision

Property insurance to protect from accidental damage/destruction of property

Eligibility Criteria

Applicants should be Saudi nationals

Applicant’s age at the time of finance should not be less than 21 years and not exceed 68 years of age upon expiry of the finance period

Applicants should be employed for a minimum 3 months with their current employer

Minimum basic salary SAR 5,000

Salary should be assigned/transferred to meem

The property must be situated in the Kingdom of Saudi Arabia

Murabaha Finance Example

Property Market Value (SAR)

500,000

Loan to value Ratio

90%

Fixed or Variable Rate

Fixed

Annual Percentage Rate (APR)

6.78%

Maturity in Years

25 Years

Payment Type

Principal and Profit

Monthly Repayment Amount* (SAR)

3,030.00

Early Payment Charges

Profit of future 3 installments

*Annual Percentage Rate & Monthly repayment amount may differ depending on the amount and the maturity period and the prevailing bank rate

FAQ's

  • Shariah compliant financing programs based on the principles of Murabaha
  • Quick and easy application process
  • Flexible installment plans to suit your needs
  • Competitive profit rates
  • Fully digital journey including E-title deed transfer
  • Peace of mind with credit life cover in the event of death or permanent total disability ( God forbid)
  • Finance amount up to SAR 5 million
  • Annual Percentage Rate (APR) is starting from *4.68%
  • Admin fees of 1% or SAR 5,000 whichever is less
  • Credit counselling services are provided throughout the application process, to help you assess product risks and make an informed and effective decision
  • Property insurance to protect from accidental damage/destruction of property

For more information call 8001166336

  • Applicants should be Saudi nationals
  • Applicant’s age at the time of finance should not be less than 21 years and not exceed 68 years of age upon expiry of the finance period
  • Applicants should be employed for a minimum 3 months with their current employer
  • Minimum basic salary SAR 5,000
  • Salary should be assigned/transferred to meem
  • The property must be situated in the Kingdom of Saudi Arabia

For more information call 8001166336

Applying for Home Finance is easy! For existing customers just login to your meem app or internet banking portal and follow the simple steps. For new customers, open your account via the meem app and apply for Home Finance as soon as your account is activated

No, our aim is to make your life easier. With meem, you can apply and receive Home Finance 100% digitally through our app including the transfer of electronic title deed for your chosen property

We meet all the needs of our customers, whether buying a home directly, or through the Real Estate Development Fund of the Ministry of Housing, we have the right solution for you. For more information call 8001166336

Yes, all meem products are 100% Shariah compliant. meem Home Finance is based on the principles of Murabaha, For more information call 8001166336

meem provides insurance against accidental property risks or destruction. For more information call 8001166336

The Annual Percentage Rate (APR) is the actual profit charged over the term of the facility and quoted on an annual basis. This is the true cost of financing. It’s calculated through a formula that is derived by dividing the profit paid by the average principal outstanding, over the life of the facility. The profit will be calculated daily starting from the execution of the transaction. For an example of Home Finance calculation, see the table available on here and try out the meem Home Finance calculator here. For more information call 8001166336

Our Annual Percentage Rate (APR) starts from 4.68% and may be subject to change periodically. For more information call 8001166336

Our profit rate starts from 2.41% and may change periodically. For more information call 8001166336

Our Admin fees is 1% or SAR 5,000, whichever is less. For more information call 8001166336

We offer flexible instalment plans to suit your needs. For more information call 8001166336

We offer up to SAR 5,000,000. For more information call 8001166336

In case a customer becomes permanently disabled (God forbid), meem will waive the remaining finance amount that the customer owes the Bank if the disability continued for at least six months from the date of the event (accident or illness) that caused the disability.
However, to be able to take advantage of this feature, customers are required to provide correct information when completing the Medical Questionnaire at the time of applying for home finance.

For more information call 8001166336

Yes, we provide credit counselling services to support our customers in understanding risks so they can make an informed and effective decision before finalizing their application for financing. For more information email [email protected]

Yes, all customers must transfer and assign their salary to meem in order to obtain Home Finance. For more information call 8001166336

The minimum salary to apply for a Home Finance is SAR 5,000. For more information call 8001166336

Yes, please here to calculate your Home Finance amount. For more information call 8001166336

  • Copy of your official and valid I.D. duly signed
  • Property/Land location form
  • Sale contract
  • Copy of the Title Deed
  • Copy of Building construction License OR Electricity Meter License
  • Land Split Letter from Notary Public (as appropriate – if the land has been subdivided)
  • Copies of Property Owner’s and Witnesses I.Ds
  • Salary Introduction Letter less than one month old
  • Salary Assignment Letter (signed by authorized signatory)