Bahrain Islamic Bank Property finance
Features
- Maximum tenure provided is 10-25 years(varies with the applicant’s profile)
- The applicant must be 21-60(females), 65(males)
- Minimum length of work required is 1 year for salaried individuals and 2 years for self-employed individuals
- Debt Service Ratio(DSR) should be below 65% for applicant’s with monthly income below BD 4000 and 70% for monthly income above BD 4000
- Minimum income required is BD 600 for Employed Bahraini Nationals
- Minimum income required is BD 1,000 for Employed Joint Bahraini Nationals
- Minimum income required is BD 800 for Employed Non-Bahraini Nationals
- Minimum income required is BD 1,500 for Employed Joint Non-Bahraini Nationals
- Minimum income required is BD 2,000 Average Deposit for Self Employed
- It is required to transfer salary to BisB account
- Maximum finance of BD750,000 (Residential) and BD1,000,000 (Investments) is provided
- 0.75% of the loan amount will be charged as processing fees
Benefits
- Provides finance for residential and commercial properties
- Can re-finance owned property
- Low processing charges
Bahrain Islamic
BISB is the first Islamic bank in the kingdom of Bahrain and has played a pivotal role in excelling Islamic banking industry. Established in 1979, BISB provides retail, corporate and other banking services to the customers.