Home Loan in Bahrain
Home Loans Interest Rates in Bahrain
Minimum Salary
Interest Rate
Loan Amount
Reducing Rate
Select Bank
Min Salary
Interest/Profit Rate
Other Filters
CLEAR
5.5%
BHD 600
9.9%
BHD 750K
10%
25
7.49%
BHD 400
BHD 400K
20%
25
3.3%
BHD 400
5.94%
BHD 500K
20%
25
What is a Home Loan
Purchasing a house is definitely one of the biggest decision one would take in their lives. The real estate sector is so high that it is not easy to buy a house without getting any financial assistance. Banks provide home loans for individuals who want to purchase a property be it a commercial or residential property.
Features of a Home Loan
Some features of Home Loans in Bahrain are:
- Bahraini residents and non-residents are eligible
- Maximum repayment period provided is 25 years
- Quick and hassle-free processing.
- Can get finance for both commercial and residential properties.
- Can get finance for under-construction properties as well
- Loans are offered on competitive interest rates.
- Co-applications are allowed.
Benefits of Home Loan
Definitely buying a house is one of the biggest purchases. Apart from providing financial assistance banks also provide some additional benefits on the loans. Like,
- Can get a free credit card and insurance coverage on the loan
- During emergencies, you can avail finance of around 80% property value
Eligibility for Home Loan in Bahrain
The eligibility criteria differ with each bank. Some common things that are considered like
- The applicant must be at least 21 years in order to apply for the loan
- Salaried and business individuals are eligible
- Minimum salary required is BHD 350
Documents required for Home Loan in Bahrain
Documents that are required for a home loan differs from each applicant. If you have a existing bank account at the same bank then you need not provide some of the documents. The documents required are:
Salaried Individuals:
- Passport copy with valid resident visa
- CPR Card (Not Required for Non-Resident)
- Salary/Employment verification
- Last 6 months bank statements
For Self-employed Individuals:
- Passport with resident visa
- CPR Card (Not Required for Non-Resident)
- Last 6 months bank statements
Home Loan Charges
Different kinds of charges are levied on the home loans which varies with each bank. Some common charges are:
- Processing fee – 0.75% to 1% of the approved loan amount
- Prepayment fee – 0.75% to 1% of the outstanding amount
Use our Bahrain Mortgage Calculator to Calculate the Mortgage Loan Installments.
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