| Purpose:
To Construct a new house
Conditions:
- Maximum Loan Amount : SR500, 000/-, depending on sustainability and age of applicant
- Maximum payment term: 30 yrs, depending on age
- Applicant should be the Sole or Co-Owner of a plot of land
- Should not be a pensioner
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2nd HOUSING LOAN SCHEME (2nd HLS) |
| Purpose:
For construction of a Second house (New Construction)
Conditions:
- Maximum Loan Amount : SR175, 000/-, depending on sustainability of applicant
- Maximum Repayment Term: 30 yrs depending on age
- Must have “Permission To Build” from the owner of the property
- Maximum Area of House Plan :55 - 60 sqm
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HOUSE EXTENSIONS SCHEME (Hse. Ext.) |
| Purpose:
For the Construction of one extra bedroom Bathroom only
Conditions:
- Must have “Permission To Build” from the owner of the property
- Maximum Loan Amount : SR75, 000/-
- Maximum are of House Plan: SR 20sqm
- Maximum payment term: To be determined by HFC
- Interest: To be determined by HFC
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HOME IMPROVEMENT LOAN (HIL) |
| Purpose:
For Minor Maintenance/ Renovation Works
Conditions:
- Maximum Loan Amount : SR50, 000/-, depending on sustainability and age of applicant
- Maximum payment term: 5 years (Fix)
- Monthly Repayment: SR 1000 - SR1100
- One HIL per Household
- Should be able to sustain the loan
- Control over disbursements
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| Purpose:
To purchase land from the Government/Private
Conditions:
- Must have “Promise of Sale” from the owner of the property
- Maximum Loan Amount : SR150, 000/-, (To Purchase Private Land – The Cost of Land purchased from the Government is generally much lower) depending on sustainability of applicant and value of the property
- Determine by the viability of the investment.
- Maximum payment term: To be determined by HFC
- Interest: 11%
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| Purpose:
To purchase an existing property
Conditions:
- Must have “Promise of Sale” from the owner of the property
- Maximum Loan Amount : SR500, 000/-, depending on applicant’s sustainability and value of the property
- Determined by viability of the investment
- Maximum payment term: 30yrs
- For Purchase of Land + House
- Interest
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