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.
Minimum Salary
starts from 7,000 for salary transfer and 10,000 for non-salary transfer
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