Joint Housing Program "PARI PASSU"

Joint Housing Program
Overview

Extending offerings on housing projects, Bahrain Islamic Bank (BisB) proudly announces introducing a Joint Housing Program in association with Eskan Bank.

The Joint Housing Program is the second association by Eskan Bank with Commercial Banks, aiming to address the high demand on housing units in the Kingdom.

The concept of the program is to share the ownership of the security between both banks to allow the citizens to benefit from both, the Social Finance Facility and the Commercial banks Mortgage Finance Facility.

This program facilitates finances for:

  • Beneficiaries willing to use both facilities toward purchasing a new residential unit.
  • Existing beneficiaries of Eskan Bank willing to transfer their facility to BisB (with a top up).
Eligibility
Nationality Bahraini nationals only.
Purpose of finance The housing unit should be the first property owned by the customer and should be used for his personal residence.
Joint applications Accepted for spouse Only
Minimum single income BD600
Minimum joint income Accepted for Spouse Only
Maximum age 60 years at the maturity of the application.
Financing tenor Maximum of 25 years
Minimum down payment 10% of the property value
Maximum property value Open
Required Documents

If you are an employee of an organization or institution, you will require the following documents:

  • Eligibility Certificate/Outstanding Letter from the Eskan Bank.
  • Two valid Identifications.
  • Latest 3 months Pay Slip.
  • Latest 3 months Bank Statement.
  • Latest Salary Certificate.
  • Subject Property Title Deed.
  • The seller’s Passport copy and contact details.