Ithmaar Bank Mortgage Loan

ithmaar-bank Bank

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Mortgage Loan

Minimum Salary

BHD 400

Flat Rate

3.3%

Reducing Rate

5.94%

Loan Amount

BHD 500K

Arrangement Fee

1%

Down Payment

20%

Repayments Up To

25 Years

BHD 400

Minimum Salary

3.3%

Flat Rate

5.94%

Reducing Rate

BHD 500K

Loan Amount

1%

Arrangement Fee

20%

Down Payment

25 Years

Repayments Up To

Features

  • Can avail finance on fixed rate basis on Morhaba finance
  • Maximum tenure provided is 10-25yrs(varies with the applicant’s profile)
  • 1% of the loan amount is charged as administration fees
  • Applicants must be minimum 21yrs
  • Minimum salary required is BD 400(Bahraini applicants) and BD 450(Non-Bahraini applicants)
  • Minimum net worth required for self-employed individuals is BD 2000
  • Maximum finance provided is BD 500,000
  • Minimum 10%-20%(varies with the applicant’s profile) of down payment is required

Benefits

  • Provides Shariah-compliant ijarah finance and Morhaba finance
  • On Ijarah finance can avail free home cover from Solidarity
  • Free content cover for one year of coverage BD 10,000 on Ijarah finance

Frequently Asked Questions

Q. Do I get life insurance?

A. Yes. Life Insurance based on takaful insurance can be availed.

Q. Is finance provided for commercial properties as well?

A. Yes. You can get a mortgage for buying commercial properties as well.

Q. How many months bank statements are required for self-employed applicants?

A. For self-employed applicants latest 6 months bank statements are required.

Q. How many months bank statements are required for salaried applicants?

A. For salaried applicants latest 3 months bank statements are required.

Ithmaar

Ithmaar Bank is a Bahrain based Islamic bank regulated by Central Bank of Bahrain providing services like commercial banking, treasury, and financial institutions and other banking services. Ithmaar provides a variety of Shari’a compliant products and services that serve financial and investment needs of the customers.