Tharwa
alrajhi bank provides Real Estate Financing (Tharwa) that support MSB customers to obtain financing against mortgage of investment property.
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Finance Features:
- Finance Amount up to 20Mn SAR
- Finance tenure starting from 12 months up to 240 months.
- Providing liquidity to the customer by financing future property revenues.
- Equal repayment Installments.
- Annual profit rate at 6.5%*
alrajhi bank is controlled and supervised by SAMA
Requirements
- Application Form.
- Copy of National ID for owner/s.
- Copy of Commercial Registration.
- There should be no defaults in the credit reports on the institution and the owner / owners / guarantors.
- All lease contracts are required to be registered with the National Housing Company's rental network.
The Annual Percentage Rate:
Example of The Annual Percentage Rate:
| Asset Type | Finance Amount | Maturity in Years | APR % | Monthly Installment |
|---|---|---|---|---|
| Tharwa Finance for Micro and Small Businesses | 1,000,000 SAR | 5 years | 7.63% | 19.566.00 SAR |
| Tharwa Finance for Micro and Small Businesses | 2,000,000 SAR | 10 years | 7.14% | 22,710.00 SAR |
| Tharwa Finance for Micro and Small Businesses | 5,000,000 SAR | 20 years | 6.93% | 37,279.00 SAR |
*APR may differ depending on the amount, management fees, and the maturity period different from above and subject to each customer.
*Any information or rates mentioned are for example only. All products and service delivery are subject to the credit policies of alrajhi bank.
The product has two variants:
Acquisition of Property
It targets clients who wish to purchase income-generating investment properties.
Equity Release
Clients who own investment property that generate income and wish to mortgage them in exchange for financing.
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