Features |
Bahraini Nationals |
Non- Bahraini Nationals |
Minimum monthly income |
BD 2000 |
BD 2000 |
Minimum Age |
25 years |
25 years |
Maximum Age |
60 years |
60 years |
Maximum Loan Amount |
BD350,000 and up to BD 750,000 for high net worth individuals |
BD350,000 and up to BD 750,000 for high net worth individuals |
Loan To Value |
80 % of property valuation or selling price, whichever is lower. |
75 % of property valuation or selling price, whichever is lower. |
Down Payment |
20% of property valuation or selling price , whichever is lower |
25% of property valuation or selling price , whichever is lower |
Loan Tenor |
Up to 15 years for land Up to 25 years for property |
Up to 15 years for land
Up to 25 years for property |
Interest Rate |
Highly competitive interest rate ( Fixed & Reducing) |
Highly competitive interest rate ( Fixed & Reducing) |
Grace Period |
Up to 90 days |
Up to 90 days |
Minimum Period of Business operating in Bahrain or GCC ( CR Registration ) |
2 years |
2 years |
Debt Service Ratio |
61% of net income |
61% of net income |
Early Settlement fees |
0.75% or BD 200/- of the outstanding balance, whichever is lower |
0.75% or BD 200/- of the outstanding balance, whichever is lower |
Partial Prepayment |
No penalty charge for partial prepayments. The amount is directed towards the principle amount of the loan |
No penalty charge for partial prepayments. The amount is directed towards the principle amount of the loan |
Processing Fees |
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Handling fees = Fixed BD 250
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Administrative fees = 25 fils per BD1000 per month on the approved finance amount
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Valuation fees = Land valuation BD 25 Property valuation BD 50
(In case the property /land value exceeds BD 250,000/- , two valuations are required |
Insurance |
Life insurance cover with
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BNI ( Bahrain National Insurance ) Either lump sum or annual accepted
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BKIC( Bahrain Kuwait Insurance ) Either lump sum or annual accepted
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Solidarity Family ( Lump Sum Premium )
Property Insurance cover with
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Standard Documents |
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Mortgage Loan Application
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Copies of CPR & Passport (with Resident Permit for Expats residing in GCC)
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Copy or Original Title Deed / Sale Agreement
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Life and Property Insurance policies
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Income Statement/ Bank Statement (last 12 months)
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Networth Statement (Assets Vs Liabilities)
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Original Commercial Registration (Minimum 2 Years)
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In case of additional income from rent. (Copy of the Title Deed generating the rent and the rent agreement needed to be obtained)
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