Features:
Terms and Required documents
• A statement of salary transfer from employer ( in case financed with salary transfer)
• Copy of building permits
• Copy of the title deed
• Monthly expense declaration form
• Valid ID
• Salary certificate from employer
• Saudi nationality only
• Sketch of property location
• Minimum age of 18
• Minimum service 3 months
• Salary starts from 7,000 for salary transfer and 10,000 for non-salary transfer
• Filling "financing" form
Al Rajhi Bank - Self-construction :
Self-construction financing is offered through the sharia principle of Murabaha. the customer can build on a land he owns or buy a land and build on it, the product is available for REDF customers and bank customers.
Flat Rate
Down Payment
Monthly Payment
Minimum Salary
starts from 7,000 for salary transfer and 10,000 for non-salary transfer
Fees & Cost
Benefits:
• Shariah compliant financing
• financing period up to 30 years
• The possibility to finance the customer to buy the land and build
• The possibility to finance the customer to build a land owned by the customer
• The possibility of financing the customer to build of a land gifted by the ministry of housing
• The possibility of financing an incomplete property
• Available for salary and Non-salary transferred customers
• Available for approved and un-approved employers
• Quick and instant approvals
• Flexible installment feature
• Financing up to the age of 70
• Competitive and fixed profit margin throughout the financing period
• financing amount up to SAR 5 Million
• “ waiver/exemption of outstanding finance amount in the event of death or disability”
• Grace Period up to 3 Months
• Co- Borrower concept only for Non REDF customers