Features:
• Financing the value of the building permit
• The possibility of financing all regions of the Kingdom
• In the event that the customer builds from his own account, Riyad Bank will compensate him for the amounts that were paid in addition to the remaining amount to complete the construction.
• Available to clients benefiting from the Real Estate Development Fund support and clients who do not benefit from the housing support initiative.
• The possibility of applying the flexible installment feature to reduce the monthly deduction of the client after retirement in proportion to his new monthly income upon retirement
• The possibility of financing the customer up to the age of 77 years
• Financing the beneficiaries of housing support
• Cooperative insurance against all risks
• Exemption in the event of death or total disability (God forbid) and assignment of the property directly to the heirs according to the terms and conditions. The client is also compensated if the house is damaged, God forbid, and that is also according to the terms and conditions.
Riyad Bank - Self-construction :
The self-construction product offers the option of building the land through 5 payments that are disbursed to the client during the percentage of completion.
Flat Rate
Down Payment
Monthly Payment
Minimum Salary
3000 SAR
Fees & Cost
Eligibility:
• Available for Saudi citizens only.
• The client must be on the lists of the Ministry of Housing or the Real Estate Development Fund.
• The minimum net salary is 3000 riyals* as per the terms and conditions.
• For workers in the governmental, semi-governmental and private sectors approved within the financing programs.
• Complies with the terms and credit policies of the bank.
• The possibility of calculating the support as an additional allowance to increase the amount of financing.
• Flexible Installment Possibility.
Documents required:
• A definition of the salary that mentions the date of starting work on the job.
• Bank statement.
• Family Card.
• A copy of the real estate deed.
• A copy of the building permit.
• A copy of the property owner's ID.
Benefits:
• Competitive profit margin
• Financing the value of the building permit
• The possibility of financing the customer up to the age of 77 years
• Financing all regions of the Kingdom
• Financing amount up to 5 million
• Flexible Payment Plans
• Available to clients benefiting from the Real Estate Development Fund support and clients who do not benefit from the housing support initiative.
• Sharia compliant