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Home Finance

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Home is where the heart is

It is a Murabaha financing that allows the customer to purchase a property, whether from one of the projects of the Ministry of Housing or a ready-made unit from the market, The product is available for REDF customers and alrajhi bank customers.

Up to 30 years

Financing period up to 30 years

5.000.000 SAR

Financing amount up to SAR 5 Million

For all customers

Available for salary and Non-salary transferred customers

Shariah financing

Shariah compliant financing

Up to 3 month

Grace Period up to 3 Months

For all employers

Available for approved and un-approved employers

Profit margin

Competitive and fixed profit margin throughout the financing period

Up to 70

Financing up to the age of 70

Up to 70

Financing up to the age of 70

Quick approvals

Quick and instant approvals

Flexible

Flexible installment feature

Terms and Required documents

  • A statement of salary transfer from employer ( in case financed with salary transfer)

  • Copy of building permits

  • Copy of owner ID

  • Copy of the title deed

  • Monthly expense declaration form

  • Valid ID

  • Salary certificate from employer

  • Saudis and Residents (Expats)

  • Sketch of property location

  • Minimum age of 18

  • Minimum service 3 months

  • Salary starts from 7,000 for salary transfer and 10,000 for non-salary transfer

  • Filling "financing" form

  • Property offer price

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

Your Monthly Salary You Can Borrow 20 years You Can Borrow 30 years You Pay Monthly
SAR 5,000 SAR 353,357 SAR 477,454 SAR 2,500
SAR 8,000 SAR 621,908 SAR 840,318 SAR 4,400
SAR 10,000
 SAR 848,057
 SAR 1,145,889
 SAR 6,000
SAR 12,000 SAR 1,060,071 SAR 1,432,361 SAR 7,500
SAR 15,000 SAR 1,272,085 SAR 1,718,833 SAR 9,000

Joint applicants

Your Monthly Salary Salary of Joint–Applicant You Can Borrow 20 years You Can Borrow 30 years You Pay Monthly
SAR 5,000 SAR 3,000  SAR 621,908  SAR 840,318 SAR 4,400
SAR 7,500 SAR 5,000  SAR 954,064  SAR 1,289,125 SAR 6,750
SAR 10,000 SAR 8,000 SAR 1,272,085 SAR 1,718,833 SAR 9,000
SAR 12,000 SAR 10,000  SAR 1,590,106  SAR 2,148,541 SAR 11,250
SAR 15,000 SAR 12,000  SAR 1,908,127  SAR 2,578,249 SAR 13,500

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

Your Monthly Payment SAR

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Your Finance Amount SAR

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Total Amount Payable SAR

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APR

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