How to buy a completed property with the financing of Riyad Bank Saudi Arabia

yousef6 May 2022Last Update : 2 years ago
How to buy a completed property with the financing of Riyad Bank Saudi Arabia

The Economy website presents a way to buy a completed property with the financing of the Saudi Riyad Bank.

The real estate financing products offered by Riyad Bank provide financing solutions based on the principles of Murabaha or Ijarah that are compatible with the provisions of Islamic Sharia.

Sharia compliant
Competitive profit margin
Flexible Payment Plans
credit advisor
Send the authorized resident on the same day
Possibility of disbursing the finance amount before depositing the salary

Riyad Bank supports you in purchasing your dream home through easy and Shariah-compliant financing programs by financing in the form of Ijarah or Murabaha.

Financing amount up to 5 million riyals
The possibility of solidarity of the main customer with 3 first-degree relatives
The possibility of obtaining more than one financing at the same time, according to the solvency
Possibility to add / cancel solidarity
Possibility of early payment / replacement with another customer / sale to a third party
Cooperative insurance against all risks
Exemption in the event of death or total disability, God forbid, and assignment of the property directly to the heirs according to the insurance coverage criteria
The possibility of calculating the amount of financing up to the age of 77 years for the government and private sector, and the age of 75 years for the military sector

the conditions

Available for Saudis only
Minimum salary 5,000 SAR
Available for workers in government, semi-government, private sector and banks
Salary must be transferred, with the exception of employees of the banking sector

How to submit your application

All you have to do is visit any Riyad Bank branch and prepare the following documents:

A valid copy of the national identity card
Fill out the mortgage application form
Fill out the customer acknowledgment form
Fill out the health declaration form
Salary identification certificate stating the date of commencement of work in the position
bank statement
Deposit evaluation fee

Advantages of Home Finance from Riyad Bank

Sharia compliant
instant approval
Multiple Payment Plans
Possibility of solidarity between first-degree relatives
Numerous solutions to suit different types of real estate
For workers in the government sectors, the private sector, the banking sector, and retirees

Maximum age of the property

45 years upon payment of the last installment if the type of property is a villa, duplex or building
25 years when paying the last installment if the property is an apartment

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