BCC Bank is increasingly recognized as one of the leading financial institutions in the region, offering loans and services tailored for all clients, including retirees and residents. The bank boasts several distinctive features, such as competitive interest rates and flexible repayment plans that align with clients’ financial capabilities. Additionally, BCC Bank provides a wide array of banking solutions and services. Among its offerings, the bank specializes in various types of real estate financing for individuals, which includes financing for ready housing units, self-construction schemes, and debt consolidation benefits.

Advantages of BCC Bank’s Debt Consolidation Product

This product allows both supported and unsupported clients to transfer their debts from other banks to BCC Bank while still receiving ongoing support for eligible clients. The product is accessible for beneficiaries of the Residential Development Fund as well as regular banking customers.

  1. The option to defer the first two financing installments.
  2. Financing options are compliant with Shari’ah principles.
  3. Financing periods extend up to 25 years.
  4. Funding is available for clients from both accredited and non-accredited workplaces.
  5. Clients can opt for salary transfers or non-salary transfers.
  6. Quick approval for financing requests within a remarkable timeframe.
  7. Financing is available up to the age of 70, with the option for flexible installments.
  8. The funding comes with a competitive and stable profit margin throughout the financing period.
  9. Financing amounts can reach up to 5 million Riyals, with debt relief available in cases of death or total disability, subject to terms and conditions.
  10. A grace period of up to 3 months is available for clients who are not supported by the Residential Development Fund.

Requirements and Documents Needed for Financing

BCC Bank relies on its extensive experience in the financial sector to provide flexible financing solutions that meet client needs, which are subject to certain requirements and necessary documentation to be submitted prior to applying for funding.

  • Submission of a salary transfer letter to BCC Bank (if salary transfer is chosen).
  • A clear copy of the property deed.
  • Completion of a client declaration and disclosure of personal obligations.
  • The national ID card must be valid.
  • A salary statement from the employer.
  • A clear sketch of the property location must be attached.
  • The applicant must be a Saudi national.
  • Applicants must be at least 18 years old.
  • Employment duration must not be less than 3 months.
  • Submission of a debt verification certificate and consent from the selling bank for the debt consolidated.
  • The monthly salary must start from 7,000 Riyals for clients with salary transfer and 10,000 Riyals for clients without salary transfer.
  • Completion of a real estate financing application form.