The beneficiary receives bank financing through the “Tas’heel Plus” Program from the lending bank, including the financial subsidy. The amount is determined according to the beneficiary's monthly income for the purpose of purchasing a residence, acquiring land, or purchasing and constructing on land. The repayment is made in monthly installments not exceeding 35% of the approved monthly income of the beneficiary at the time the allocation decision is issued.
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Key Provisions
The installments repayment period is 30 years
Monthly income is not subject to periodic updates
Gradual deduction starting from 20% to 30% or 25% to 35%
Financing Purposes
Purchasing a home
( Housing Unit - Ownership Apartment )
Purchase of land
Purchase of land and construction
Conditions
- The applicant must be a Bahraini national.
- The applicant must be the head of the household.
- The applicant's age at the time of application must be at least 21 years and not exceed 40 years of age at the time of allocation and must possess full legal capacity.
- The applicant's income at the time of submission and at the time of allocation must not be less than (600) Bahraini Dinars and not exceed (1200) Bahraini Dinars .
- The applicant or any family member must not have previously received any housing service for the purpose of owning a dwelling provided by the government or any other entity.
- The applicant or any of their family members must not have owned a property for three years prior to the application and until the allocation. The following is considered as ownership: Anyone who has benefited from a dwelling through an Islamic financing scheme or commercial financing.
- The applicant's family must reside permanently in Bahrain.
Financing Banks
Financing can be obtained from one of the following banks, subject to the banks’ terms and conditions:
