It is a personal financing product secured by the property collateral owned by the prospect customers. The property might be a Land, Villa, Apartment & or building where the customer can lien his property that has a clean title deed
Just visit any branch of Al Rajhi Bank or complete our user friendly online application in just a few minutes.
Terms and Conditions
- To Saudi nationals only
- Minimum Salary should not be less than SAR 5,000 for government employees & SAR 7,500 for private companies.
- Length of service to be 6 months for government employees and 12 months for private companies.
- Loan tenor including retirement age to be as follows;
- For government and semi-government employees, 20 years for ready-made properties and 15 years for residential lands
- For private sector companies, 15 years for ready-made properties and 10 years for residential lands
- Customer Age Criteria:
- Minimum Age 21 Years
- Maximum Age 60 Years (or as per the retirement age for militaries)
- Loan To Value Ratio’s Criteria:
- For Ready-made properties 70% LTV
- For lands, 60% LTV
- Financing Amount Criteria:
- Minimum Finance is 50K
- Maximum Finance up to 3 Million
- Installment Repayment Criteria:
- Monthly deductions from assigned salary
- Other Income Criteria:
- Other proven income can be considered subject to cap of 50% of the other income
- Application Form
- Salary Certificate sealed by the employer
- Verified copy of the national ID
- Salary Assignment letter in favor of ARB/customer current account or the approved SAREA form.
- Copy of Title Deed (both sides)
- Copy of Building permits (both sides)
- Property location sketch diagram
- In case LAND dimensions are mismatched between the title deed and the ground, a letter from municipality to be obtained.