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.

Key Features of the 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.

Shariah financing

Shariah compliant financing

Up to 70

Financing up to the age of 70

Up to 30 years

Financing period up to 30 years

Profit margin

Competitive and fixed profit margin throughout the financing period

Land owned by the customer

The possibility to finance the customer to build a land owned by the customer

5.000.000 SAR

Financing amount up to SAR 5 Million

Ministry of housing support

The possibility of financing the customer to build of a land gifted by the ministry of housing

Up to 70

Financing up to the age of 70

Incomplete financing

The possibility of financing an incomplete property

Up to 3 month

Grace Period up to 3 Months

For all customers

Available for salary and Non-salary transferred customers

Flexible

Flexible installment feature

For all employers

Available for approved and un-approved employers

Quick approvals

Quick and instant approvals

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Terms and Required documents

A statement of salary transfer from employer ( in case financed with salary transfer)
Buying an old property and transferring it in the name of the customer and mortgaging it to the bank
Copy of building permits
Monthly expense declaration form
Valid ID
Salary certificate from employer
Sketch of property location
The client obtains a demolition permit and demolishes the property
Minimum age of 18
The bank will make sure that the property is demolished and start paying the construction payments to the customer.
Property offer price
Minimum service 3 months
Filling "financing" form

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How much money can you borrow?

The first step for you is to explore the amount you can borrow. Typically, you can borrow up to 53 times your salary to buy a land. The tables will give you closer idea.

Single applicant

Joint applicants

Home 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

Select Account Type

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Select Your Nationality

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Enter Your Monthly Salary (SAR)

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Current Monthly Installments Paid (SAR)

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Property Value

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Balloon Payment

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Select Finance Tenure

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Your Monthly Payment SAR

Your Finance Amount SAR

Total Amount Payable SAR

APR

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How to apply

Discover the Al-Rajhi banking app

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Apply via Al Rajhi Bank Online

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800 124 1222

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Frequently Asked Questions:

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Self-construction