Features:
Terms and Required documents
• A statement of salary transfer from employer ( in case financed with salary transfer)
• Copy of the title deed
• Monthly expense declaration form
• Valid ID
• Salary certificate from employer
• Sketch of property location
• Saudi nationality only
• Minimum age of 18
• Minimum service 3 months
• No Objection Certificate from another bank/financial institution
• Salary starts from 7,000 for salary transfer and 10,000 for non-salary transfer
• Filling "financing" form
Al Rajhi Bank - Buyout Home Finance :
Mortgage Loan Buyout is offered to REDF and Non-REDF customers to settle their current mortgage loan with other banks and obtain new mortgage financing with ARB, the product is available for REDF customers and alrajhi 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:
• Option to defer first two instalments
• Shariah compliant financing
• financing period up to 25 years
• Available for approved and un-approved employers
• Available for salary and Non-salary transferred customers
• Quick and instant approvals
• Financing up to the age of 70
• Flexible installment feature
• 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