- The purpose of the loan is for house renovation, landscaping, rock blasting etc. and not for the purchasing of household items.
- Only one HIL per household is allowed.
- The maximum loan amount is SR50,000.00 at an interest rate of 10% (variable) and the loan repayment term is 5 years for applicant earning under SR10,000.00 and 3 years for those earning above SR10,000.00.
- Applicant must be over 18 years old.
- Applicant should be gainfully employed and earning less than SR15000.00 net per month (proof is required).
- Applicant should provide a guarantor who is gainfully employed. If applicant cannot provide sufficient proof of income, they will also need to provide a co-applicant.
- The loan is disbursed by installments against pro-forma invoices and upon building inspectors certification.
- Applicant should provide latest pay slip, bank statement with at least 6 months’ transactions, ID card as well as proof of income if self-employed.