Features:
• Annual rate starts from 3.32%
• Earn 6,000 mokafaa Points when you apply for refinance via alrajhi bank app
• You can get Watani financing with a maturity period of up to 60 months
• Competitive profit margin ratio
• The speedy completion of all procedures for the customer’s financing request
• Enable the customer to benefit from the financing products and other services provided by AlRajhi
• Possibility of financing retired customers
• The ability to apply for a financing and implement it directly through the application
• Possibility of early repayment at any time based on the customer's request
• No guarantor is required to obtain financing
• A financing amount of up to 5 million riyals *
• Exemption from indebtedness in the event of death or total disability, God forbid
Al Rajhi Bank - Personal Finance Refinance :
The bank provides the possibility of consolidating the customer’s obligations from the personal finance contracts with the bank in one contract by paying them through a third party. A maximum financing is implemented so that the third party contract is paid and the rest of the finance amount is available in the customer’s account. The product is also available to customers who have one personal finance.
Flat Rate
3.32%
Minimum Salary
SAR 2,000 forSaudis, SAR 1900 for pensioners SAR 5000 for Residents.
Monthly Payment
Salary Transfer
Yes
Fees & Costs:
SAR 500
Requirements:
• The age should not be more than 60 years for employees and 70 years for retirees (when paying the last installment). .
• The employer should be among the entities approved by the bank.
• The income of the Saudi client, the employee, should not be less than 2,000 riyals, and the retired one must not be less than 1,900 riyals.
• The resident's income shall not be less than 5,000 riyals.
Documents required:
• The national identity card or residence card of the resident customer.
• Definition of salary.
• Salary fixation.
• Funding application form.
Eligibility:
• Applicant must be a Saudi National.
• Applicant has to be an employee at one of the Commercial Banks in the Kingdom of Saudi Arabia, as well as working and residing in the Kingdom.
• Applicant’s age must be between 25 and 55 years old at the time of the application for the Finance solution.
• Applicant must have a minimum employment period of 1 year with the current employer and 5 years of total employment.