Property for Investment
Today, we are spending more time thinking about our futures. Investing for the future allows you to secure that extra bit of income and enjoy a better future for your families and yourself.
The propert for Investment financing program “Irad” help you buy an investment property through finance, and use its income as a repayment for the financing over a period of 10 years.
Benefits and Features
- You are not required to be an employee
- You have the option to mortgage other commercial properties you own
- You have the option to add your salary as an additional income (to receive a larger finance)
Steps
- Open an account with us
- Complete the application form and submit the property documents
- Sign the contract upon our final approval
Eligibility
Applicant
- Saudi national
- Age must be 18 years and above
- Should have good credit record with the Saudi Credit Bureau (SIMAH)
Property for Investment
- Must be fully constructed
- The land should be located within an urban extent
- Should not be more than 20 years old
- The property must have its own valid title deed
- The lowest limit for purchasing is SR 1 million, while the highest limit is SR 5 million
- Historical buildings with no concrete structure cannot be financed by the program
Required Documents
- Completed application form to purchase the property
- A copy of the National ID and family card (if available), along with originals for verification
- An introduction letter for the appllicant who wants to transfer his salary to Al Rajhi Bank
- A copy of the property’s title deed ( both faces of the deed)
- A copy of the Building Permit
- A quotation form of the real estate along with the commission to be charged by the real estate office
- A drawing detailing the location of the property
- A copy of the property rent contracts (along with original copy) to determine the income of the property
You can reach us in the following ways:
Click here to fill out the online Home Finance application form.