About Renovation Financing
Renovation Finance is one of the Ministry of Housing & Urban Planning’s financing services, offered to eligible applicants who wish to renovate their housing unit. Eligible applicants can renovate a housing unit owned by the applicant or one of the family members.
Upon approval by the Ministry of Housing & Urban Planning, the Bank will provide a finance amount of up to BD20,000, depending on the applicant’s salary.
The applicant will have to pay back the financing to the Bank, based on monthly instalments over a period of up to 15 years.
In order to apply for Renovation Finance, the applicant must meet the following criteria:
- Bahraini citizen
- Head of household
- A period of 10 years has elapsed since the beneficiary has benefitted from any housing services provided by the government or any other entity
- Has not benefitted previously from renovation finance
- Beneficiary's age should be between 21 years and 60 years
- Beneficiary’s monthly income should be between BD120 and BD1,200
- Beneficiary's family must reside in Bahrain
An applicant may submit a joint request with his/her spouse to benefit from the financing service