Al Salam Bank has given the first loan to a home-buyer who used the new Baity app, which was launched during the ongoing Housing Finance Exhibition at City Centre Bahrain.
With this, the bank said it has become the first financial institution to complete its real estate financing procedures through the platform, reflecting the simplicity and speed of its administrative procedures.
The Baity app brings together landlords, housing applicants, residential unit seekers, and participating banks under one platform.
The application also aims to support them in finding solutions and options that best suit their needs.
Al Salam Bank also awarded the buyer a BD500 cash prize during the exhibition, which is organised by the Housing and Urban Planning Ministry in association with Eskan Bank.
Commenting, Mohammed Buhijji, head of retail banking at Al Salam Bank, said: “We are proud to be the first bank to provide financing through the Baity platform. Al Salam Bank remains a key supporter of the national aspiration to offer suitable housing services to citizens through facilitated, simplified, and quick financing solutions. We would like to invite everyone to use the platform to apply for convenient residential and financial solutions, as well as exclusive offers from Al Salam Bank.”
He added: “Home-loan customers of Al Salam Bank will benefit from competitive profit rates, a grace period of up to six months, exemption from property valuation fees, administrative fees, and advance payment. They will also benefit from flexible procedures, immediate approval and convenient monthly instalments, and get reward points through the loyalty programme enabling them to win prizes.”
During the exhibition, Al Salam Bank has signed partnerships with Bareeq Al Retaj, Naseej, Delmon Gate Company, Union Real Estate, Taiba Real Estate, and AlSalam Gas entitling its customers to exclusive offers and prices.
The bank announced a cash prize of BD500 for the first three home-loan customers using the new platform to reserve their properties.
The offer is valid until the end of June.
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