Purchase a Home " Villa or an Apartment"
Whether you plan to purchase a villa or an apartment, our home finance programs will help you achieve your goal. You can choose between our 15 Year plan without down payment and our 25 Year plan with a participation of 10%.
Benefits and Features
- Finance up 4 times your annual salary for 15 Year plan and 6 times your annual salary for 25 Year plan
- No down payment for 15 Year plan (10% participation for 25 Year plan)
- Possibility of having a joint applicant
*As per customer eligibility
Steps
- Open an account with us
- Transfer your salary to your account with us
- Complete the application form and submit the property documents
- Sign the contract upon our final approval
Eligibility
Applicant
- Saudi national
- Employment period must be at least 6 months with current employer. The employer must be an approved party by Al Rajhi Bank
- Age must be 18 years and above
- A monthly income of SR 2,000 and above
Villa / Apartment
- Must be fully constructed
- Should not be more than 20 years old
- The area of land must not be less than 200 Sqm
- An independent title deed must be available
Required Documents
- A copy of the Building Permit
- A copy of the title deed (both sides)
- Completed price quotation
- A drawing detailing the location of the property
- A Divisions Report (for Duplex villas) and an “ATharaa” agreement (for apartments where title deeds not available)
- Completed home finance application form
- A copy of the National ID and family card (if available), along with originals for verification
- An introduction letter stamped by the employer (stamped by the Chamber of Commerce for the private sector) stating the years of service, the salary, the job title, and allowances (if any)
- Customer acknowlegment that he inspected the property
You can reach us in the following ways:
Click here to fill out the online Home Finance application form.
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