Personal Finance Buyout
If you have indebtedness in any local bank, the bank offers the possibility of requesting a maximum financing in order to repay the customer's debt with a new contract. The rest of the financing amount will be available in the customer's account after completing the procedures.
Key Features of the Personal Finance Buyout
Discover the unique advantages that make our program stand out.
Low Annual Rate
Starting from an annual rate as low as 2.64%.
Bonus Points
Earn 30,000 mokafaa points when applying for a buyout via the app.
Flexible Tenure
Up to 60 months financing for both Saudi and Non-Saudi customers.
Competitive Profit Margin
Take advantage of a highly competitive profit margin ratio.
Quick Process
Fast completion of financing procedures.
Access to Bank Services
Enjoy financing and other AlRajhi Bank services.
Financing for Retirees
Financing options also available for retired customers.
Financing for Retiring Customers
Financing options for customers about to retire.
Financing for Non-Saudis
Available financing for non-Saudi customers.
Early Repayment Option
Option to make early repayments anytime upon request.
No Guarantor Needed
Financing available without a guarantor.
High Financing Amount
Receive financing amounts of up to 5 million riyals.
Debt Exemption Coverage
Exemption from debt in case of death or total disability, God forbid.
Payment Postponement
Postpone the first two installments for your convenience.
Product Example
| Financing Amount | Maturity In Years | APR | Monthly Installment Amount |
|---|---|---|---|
| SAR 200,000 | 5 | 5.61% | SAR 3,773 |
| SAR 5,000 | SAR 353,357 | SAR 477,454 | SAR 2,500 |
| SAR 5,000 | SAR 353,357 | SAR 477,454 | SAR 2,500 |
| SAR 5,000 | SAR 353,357 | SAR 477,454 | SAR 2,500 |
| SAR 5,000 | SAR 353,357 | SAR 477,454 | SAR 2,500 |
Product Terms and Requirements:
Nationality
That the customer is (citizen or resident) on the job or retired.
Employer
That the customer is an employee of one of the approved employers within the bank.
Minimum Age:
18 years for citizens and 23 years for residents
Minimum Salary:
- For citizens: 4000 SAR
- For residents 5000 SAR
Customer Age:
The age should not exceed 60 years for employees and 75 years for retirees (when paying the last installment)
Required Documents:
- National identity card or residency card for residents
- Salary definition
- Salary fixation
- Financing application form
- Quotation Form.
Personal finance calculator
Please note that this calculator only helps you calculate the approximate financing amount and does not represent the exact amount of financing and payments. For actual approval details, please contact us at 8001241222
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