Features:
• Sharia Complaint.
• Waived Profit margin.
• No Administrative fees.
• Salary transfer is not required.
• Expedite Procedures.
• Flexible Payment plan starts from 6 to 36 months (Depending on the agreement with the merchant).
• Financing amount starts from 5,000 SAR up to 200,000 SAR. (Depending on the agreement with the merchant).
• Outstanding balance will be waived in case of death.
• The customer must be an employee of the government / military / semi-government, or an approved company from the private sector, in addition to retired customers.
• Available for customers who are qualified for Personal Finance program (new financing or additional financing.
Riyad Bank - DAFA’AT Program :
Flat Rate
Minimum Salary
SAR 5,000
Monthly Payment
Salary Transfer
Yes
Documents required:
• The merchant has to fill the form with the customer information, product amount, and to be stamped.
• The Customer must deliver the form to any of Riyad Bank branches, to validate the customer eligibility according to Personal Finance program polices.
• Once the customer request have been approved, the amount will be deposited into the merchant’s account in exchange to benefit from the required product or service.
Eligibility:
• Customer must not be less than 18 years old for Saudis.
• Customer must not be less than 22 years old for non-Saudis.