Does Sakana offer fixed and variable rate financing?
Sakana offers fixed and variable rate financing for all customers. Variable rate financing is offered on long term basis up to 30 years. Fixed rate financing is offered up to 5 years.
On what basis Sakana varies the rate?
Sakana has its own benchmark rate which would be adjusted from time to time based on market and other factors. Sakana will announce the benchmark rate as and when it is changed.
What is Sakana’s benchmark rate?
Sakana’s benchmark rate is currently 9.75% per annum* will be for Residential properties. and 10.75% per annum for Commercial properties.
*(with effect of 21 Oct 2008)
How much financing does Sakana provide?
For individual customers, Sakana provides up to 90% of the property value for residents, 80% GCC residents and up to 70% for non residents.This is of course, subject to Sakana’s terms and conditions.
What is the minimum and maximum amount of finance offered per customer?
Sakana will finance minimum of BD 20,000 and maximum of BD 1.25 million per customer.