Al-Rajhi Bank is a loan without guarantor or salary transfer

Al-Rajhi Bank offers several financing programs, including a loan without salary transfer or financing Supplementary to the Real Estate Development FundWe know that Al-Rajhi Bank is one of the biggest Islamic banks in the Kingdom of Saudi Arabia and the world, because it has the largest branch network in the world with more than 500 branches, and now we come back to our topic today and he speaks Additional funding from the Real Estate Development Fund.

A loan without salary transfer for Al-Rajhi Bank

Al-Rajhi Bank offers a program to obtain a personal loan without salary transfer, but certain conditions must be met to obtain financing.

1. The borrower’s salary must be at least 10,000 riyals.
2. The borrower’s age must be over 25 and not over 55 for the last installment of the loan.
3. He can get the loan from Saudis and expatriate residents.

These were the requirements for obtaining a loan without salary transfer in the Kingdom of Saudi Arabia. Al-Rajhi Bank is one of the best banks to provide finance service without salary transfer or sponsor for citizens and residents of the Kingdom of Saudi Arabia.

Additional funding from the Real Estate Development Fund

Saudi Al Rajhi Bank offers a program Additional funding from the Development Fund ImmovableThis program is accessible through the Al-Rajhi Mubasher service, which facilitates transactions and the ability to implement Internet banking transactions with ease and ease, which allows electronic transactions to be carried out in most transactions and this is one of the primary concerns of digital transformation, which is one of the bases of the Kingdom’s vision for 2030. This program is one of the most important finance program as it provides real estate finance which depends on murabahah principle for citizens who qualify for finance scheme, and the finance scheme is offered to Saudi citizens which have approvals for real estate financing of up to 500 thousand Saudi Riyals, and there are government programs for housing, including subsidized ones. Including time lapse.

Conditions for additional funding from the Government Housing Accelerated Real Estate Development Fund

Government Accelerated Housing Conditions:

1. The candidate must be of Saudi nationality and be part of the group approved by the Real Estate Development Fund.
2. Customer benefit support is calculated on the loan amount less than 500,000 Saudi Riyals.
3. Support funding is calculated over the term of the loan over a period not exceeding 15 years.
4. The maturity period of the unsubsidized loan which exceeds the financing of the Real Estate Development Fund, which is 500 thousand Saudi Riyals, extends up to 20 years with a commercial margin stipulated in the financing conditions of Al-Rajhi Bank .
5. The real estate development fund pays 100% of the financing profits up to 500 thousand riyals in the first 15 years of maturity, and after the end of the term, the client pays profits estimated at 1% of the financing amount over 60 monthly payments.

Conditions of subsidized social housing:

1. A financing program for salary transfer clients.
2. The maximum maturity does not exceed 500,000 Saudi Riyals with a repayment period of up to 30 years.
3. The loan is based on a contract which includes the collection of subsidized profits each month, with monthly payments equal to the principal of the financing.