REDF: Madoum Finance Program

Madoum is a Sharia-compliant finance program designed for SNB customers whose applications have been approved by the Real Estate Development Fund. The Saudi National Bank will finance the Fund beneficiaries, and then the Real Estate Development Fund will pay the full or partial profits of the finance on behalf of the beneficiary.

The Madoum amount is calculated based on the number of family members, level of income, and age of the beneficiary.

The Madoum amount will be 100% for the low and medium-income beneficiaries subject to the Fund regulations.


Privileges of Madoum Finance

  • Approved by the Shariah Board.
  • Maximum amount of Madoum Finance is SAR 500,000 as per the Fund's policy.
  • Maximum amount of Madoum Finance is SAR 400,000 as per the SNB's policy.
  • Available with the following options:
  • Murabaha.
  • 2x1.


Examples of calculation of Madoum Finance 

Finance amount 590,000 A customer without Madoum RF A customer with Madoum RF
Amount of the Madoum RF 0 500,000
Total amount of Madoum RF 0 382,500
Total Profit 451,350 451,350
Madoum Profit 0 1,771
Total amount of the installment 4,339 4,339
Total deduction from the customer 4,339 2,568


* Terms and conditions apply

** Annual Percentage Rate starts from 4.74% calculated on the amount of funding 590,000 Riyals for a period of 5 years, including management and assessment fees (1% of funding or 5000 Real value, whichever is less).


Madoum Finance Program Procedures

  • The customer obtains the approval of the Real Estate Development Fund when s/he receives a text message from the Fund:
  • The customer submits an application to any SNB branch for Madoum RF in partnership with the Real Estate Development Fund;
  • The property selected by the customer will be evaluated;
  • The Bank and the Fund will simultaneously and automatically approve the customer's application and notify the customer directly of the Madoum amount,
  • The property will be purchased from the owner and a finance account will be opened;
  • The monthly installments will be deducted from the customer's account at their maturity date;
  • The Fund transfers the monthly Madoum amount to the customer's account.


Madoum RF Program Conditions

To obtain a prior approval from the Real Estate Development Fund.


Madoum Finance Calculator

To know the monthly Madoum amount that will be paid by the Real Estate Development Fund, please visit the "Madoum Calculator" from here.


Or visit the nearest branch of the Saudi National Bank, or call the toll-free number: 8002441005.