Formula
What this calculator does
This is a comprehensive mortgage comparison tool for the 12 major Saudi mortgage lenders. Pick a bank from the dropdown to instantly recalculate your monthly installment using that bank's current subsidized (Sakani) or standard rate. The side-by-side comparison panel below the result lets you switch lenders with a single click. All calculations apply the same SAMA limits (90% LTV first home, 65% DBR, 30 years max) - the only variables are the bank's specific rate and processing fee.
The 12 Saudi mortgage lenders covered
Bank Aljazira (3.20%) - lowest subsidized rate, fully Islamic. Bank Albilad (3.50%) - Islamic, competitive Sakani rates. Arab National Bank / ANB (3.69%) - conventional with strong Sakani partnership. Saudi Awwal Bank / SAB (3.74%) - formerly Saudi British Bank. Alinma Bank (3.84%) - modern digital Islamic bank. Saudi Investment Bank / SAIB (4.16%) - mid-size conventional, REDF partnership. Saudi National Bank / SNB (4.20%) - largest bank, special projects to 2.99%. Riyad Bank (4.30% indicative) - conventional with government ties. Banque Saudi Fransi / BSF (4.40%) - premium banking. Al Rajhi Bank (4.48%) - world's largest Islamic bank, largest Saudi portfolio. Dar Al Tamleek (5.00% indicative) - specialized non-bank financier with faster approval. Amlak International (5.00% indicative) - non-bank with Ijara and deferred-sale products.
Subsidized (Sakani) vs standard rates
Subsidized rates are available to Saudi nationals enrolled in the Real Estate Development Fund (REDF) program through Sakani. The government effectively subsidizes the rate gap, making the bank's effective rate 1-2% lower than what an unsubsidized borrower would pay. To qualify, the applicant must be a Saudi national, 25+ years old, head of household, with household income below set thresholds and no prior housing support in the past 5 years. Apply through sakani.sa BEFORE approaching a bank - many lenders integrate Sakani approval into a single application.
Islamic vs conventional mortgages
Islamic banks (Al Rajhi, Alinma, Albilad, Aljazira, plus the non-bank financiers Dar Al Tamleek and Amlak) structure their mortgages as Murabaha (cost-plus sale), Ijara (lease-to-own), or Musharaka Mutanaqisa (diminishing partnership) - sharia-compliant alternatives to interest-based lending. The economic outcome is similar to a conventional loan, but the legal structure differs. Conventional banks (SNB, SAB, Riyad, ANB, BSF, SAIB) offer standard interest-based mortgages. The rate, fees, and SAMA limits are the same for both - only the contract structure and language differ. Customer experience and approval speed vary more between individual banks than between Islamic vs conventional categories.
SAMA binding limits (same for all banks)
Every Saudi mortgage lender must operate within SAMA's Real Estate Finance Regulation: maximum 90% LTV for first home (Saudi national, primary residence), 70% LTV for investment or second property; maximum 65% DBR (total monthly debt service vs gross income); maximum 30-year tenure. These limits are non-negotiable - no bank can exceed them regardless of your relationship. Processing fees are capped at 1% of loan amount or SAR 5,000 (whichever is lower) per Appendix 2 of SAMA Regulation 29/2011. 15% VAT applies to processing fees but not to interest itself.
How to choose between banks
1. Compare effective rates (KFS): The subsidized rate you see is one input; processing fees, late-payment policies, and early-settlement penalties all affect the total cost. Request the Key Facts Statement (KFS) from 3-5 banks. 2. Speed of approval: Non-bank financiers (Dar Al Tamleek, Amlak) typically approve faster than banks; among banks, Alinma's digital flow is often quickest. 3. Customer service: Established banks (SNB, Al Rajhi, SAB) have more branches; digital banks have better apps. 4. Conversion options: Some banks allow rate-type conversions (fixed to variable) without penalty; others charge. 5. Sakani availability: All listed banks participate in Sakani for subsidized rates, but processing times differ. 6. Relationship benefits: If you already bank somewhere, ask about preferential rates for existing customers.
Frequently asked questions
As of Feb 2026, the lowest Sakani-subsidized rates (20-year off-plan product) are: Bank Aljazira at 3.20%, Bank Albilad at 3.50%, Arab National Bank at 3.69%, and Saudi Awwal Bank (SAB) at 3.74%. Saudi National Bank (SNB) offers special-project rates as low as 2.99% for selected developer partnerships. Standard (unsubsidized) rates run 1.5 to 2 percentage points higher.
Islamic banks (Al Rajhi, Alinma, Albilad, Aljazira) use sharia-compliant structures - Murabaha (cost-plus sale), Ijara (lease-to-own), or Musharaka Mutanaqisa (diminishing partnership). Conventional banks (SNB, SAB, Riyad, ANB, BSF, SAIB) use standard interest-based contracts. Economic outcomes are very similar; what differs is the contract language, the way you receive title (Murabaha gives ownership at signing; Ijara at the end), and some sharia compliance requirements (no late-payment interest, restrictions on what the financed asset can be used for).
Yes - this is called 'mortgage transfer' (شراء مديونية). The new bank pays off your existing balance and you continue with the new bank's rate. It only makes financial sense if the new bank's rate is materially lower (typically 0.5% or more) and the early-settlement penalty at your current bank is small. Many borrowers transfer once during a 20-year mortgage to capture lower rates. SAMA caps the early-settlement penalty at 3 months' interest on fixed-rate loans.
Yes. Both Dar Al Tamleek and Amlak International are licensed by SAMA under the Real Estate Finance Companies framework and follow the same regulatory caps (90% LTV first home, 65% DBR, 30-year max tenure). Their advantage is typically faster approval; their rates are usually slightly higher than banks. They're well-suited for borrowers who need quick decisions or have non-traditional income profiles. Same consumer protections apply.
Approximately 1.5 to 2.5 percentage points. For example, if a bank's subsidized Sakani rate is 3.84%, its non-subsidized rate for the same tenure is typically 5.5-6%. The gap exists because Sakani / REDF subsidizes part of the rate for eligible Saudi nationals. To qualify: Saudi national, 25+ years old, head of household, household income below thresholds, no prior housing support in the last 5 years. Expatriate buyers do not qualify for the subsidy and pay the standard rate.
Sources
- Real Estate Finance Regulation - SAMA— Saudi Central Bank (SAMA)
- Sakani Platform - Mortgage Calculator and Programs— Sakani / Ministry of Municipal, Rural Affairs and Housing
- Real Estate Development Fund (REDF)— REDF - Kingdom of Saudi Arabia
- Aqar24 - Monthly Saudi bank mortgage rates aggregator (Feb 2026)— @alaqar24 on X
- Argaam - Saudi banks mortgage rates Feb 2026— Argaam
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