Al-Rajhi Bank Unveils New Personal Financing Options
Al-Rajhi Bank now offers convenient personal financing options through its digital platforms. This initiative aims to streamline access to funds for various needs, from home renovations to wedding expenses, with attractive terms and benefits for customers.
Personal Financing Details
The bank allows applying for personal financing electronically, which makes it faster to get the money. Financing options are designed to assist clients with a range of needs, including home improvements and other personal expenditures.
Financial Benefits
Personal financing comes with an annual interest rate starting from 3.07%. Clients who apply via the bank’s application will receive a reward of 30,000 points. Saudis can obtain up to 5 million Saudi riyals, whereas residents can receive up to 1.5 million Saudi riyals.
Advantages of Personal Financing
- Saudi clients can obtain financing of up to 5 million Saudi riyals; residents can obtain up to 1.5 million Saudi riyals.
- Financing includes exemption from debt in the event of death or total disability.
- Flexible repayment terms are available for up to 60 months, with options for early repayment.
- New personal financing from Al -Rajhi does not require a sponsor.
- Customers get 30,000 reward points for applications through the bank’s application.
Eligibility Requirements
To qualify, applicants must meet certain conditions. They should be Saudi nationals or residents. Citizens need a minimum monthly salary of 2,000 Saudi riyals, while residents require at least 5,000 Saudi riyals. Additionally, citizens must be at least 18 years old, and residents must be at least 23.
Further requirements include applicants being employees of a bank-approved employer, with an age limit of 60 for citizens and 75 for retirees at the installment payment deadline.
How to Apply
Customers can apply through the Al -Rajhi Bank website via a dedicated link. Applicants must provide necessary information and documents, such as a national ID or residency permit. After providing salary details, funding can be obtained quickly and easily.
