Finances Ministry of Housing Products
Mazaya
Overview
“Mazaya” is a social housing scheme where its eligible beneficiaries can own their dream home through a real estate finance facility that can be repaid through monthly installments subsidized by the government, where they will reimburse the difference between your installment and the real total installment. Your installment is determined by taking 25% of your total monthly income.
Benefits & Features
- 100% financing of the property price up to a maximum of BD 120,000 of which the government subsidized amount is up to a maximum of BD 81,000. The balance amount will be financed by Khaleeji Bank
- Maximum Tenor at maturity is 60 years old or 25 years of finance
- Monthly installment of 25% of total monthly income
- No administration fees
- 0% downpayment
- Private Notary is provided
- Complimentary Fire Insurance
Requirements
- Finance Application Form
- Two Valid IDs
- Salary Certificate
- Salary Transfer Letter
- Latest Pay Slip (Previous 3 Pay Slips if your income varies)
- Statement of Account for the last 3 months
- Copy of the Title Deed
- Eligibility Certificate provided by the Ministry of Housing & Urban Planning
- Updated salary details every 2 years for their income review
Tas’heel
Overview
“Tas’heel Aqari” is a financing program offered by the Ministry of Housing & Urban Planning to finance Bahraini Citizens at subsidized rates through partner banks.
The finance can be used for the following purposes:
- Purchase of a housing unit
- Purchase of a plot of land
- Construction of a housing unit
- Purchase of a plot of land and constructing on it
The subsidized amount by the government will be provided as an upfront subsidy. The installment amount is fixed during the financing period.
Benefits & Features
- Maximum finance of BD 70,000 with no limit for the property value
- Tenor of 30 years
- No administration fees
- 0% downpayment
- Private notary is provided
- Complimentary Fire & Life Insurance
- 6 month Grace Period
- SLRB Charges are covered by Ministry of Housing & Urban Planning*
* SLRB charges covered for the Tas’heel eligible amount only
Requirements
- Finance Application form
- Two Valid IDs
- Salary Certificate
- Salary Transfer Letter
- Latest Pay Slip (Previous 3 Pay Slips if your income varies)
- Statement of Account for the last 3 months
- Copy of the Title Deed
- Eligibility Certificate provided by the Ministry of Housing & Urban Planning
Tas’heel+
Overview
A subsidized real estate financing offered in partnership with financing banks, which provides financing amounts of up to BD 91,000 for the purpose of purchasing a housing unit, land, or land and building on it. The financing amounts are paid in gradual monthly installments not exceeding 35% of the beneficiary’s approved monthly income at the time of issuing the application.
Benefits
- Financing amount up to BD 91,000
- No Down Payment required
- Monthly salary/income approved at the time of allocation
- Possibility of combining the salaries of both the husband and wife
- Income data will not be updated throughout the repayment period
Criteria
- Age between 21 – 40 years
- Monthly Income between BD 600 – 1,200
- Financing period of 30 years
- For:
- Housing Unit purchase
- Land purchase
- Land purchase and construction
Applicant Contribution to the Monthly Installment
| Option 1 | Option 2 |
| Financing up to BD 81,000 | Financing up to BD 91,000 |
| First five years (20%) | First five years (25%) |
| Second five years (25%) | Second five years (30%) |
| Remaining years to repay (30%) | Remaining years to repay (35%) |
Exclusive Offers for the First 60 Clients
- Electricity bill support for the first 20 clients – BD 25 per month for 12 months
- Free iFix membership for the second 20 clients – worth BD 110 for 12 months
- Free Fiber subscription for the third 20 clients – for 12 months (Cost depends on the selected package)
Pari Passu – Joint Collateral Scheme
Overview
This is a Social Housing Finance that allows you to purchase constructed real estate properties through the joint financing program between Eskan Bank and Khaleeji Bank.
The installment amount is fixed at 25% of your total monthly income, with Tas’heel Aqari being up to 35%.
Benefits & Features
- Maximum finance of BD 200,000 of which the government subsidizes BD 70,000
- Streamlined procedures allowing you to obtain additional financing through the same collateral
- There is no limit on the property value and the installment amount is fixed over the financing facility’s life
Requirements
- Finance Application Form
- 2 Valid IDs
- Salary Certificate
- Salary Transfer Letter
- Latest Pay Slip (Previous 3 Pay Slips if your income varies)
- Statement of Account for the last 3 months
- Copy of the Title Deed
- Eligibility Certificate provided by Eskan Bank