FAQs
Q: Can I get the top-up when I'm still repaying my first finance?
A: Yes, after over 25% of your installments for your first finance have been repaid.
Q: Will the profit margin change over the years?
A: No, the profit margin is fixed.
Q: Why do I need to transfer my salary?
A: This is to ensure payments are made on the designated dates mentioned in the contract without delay.
Q: Is the Personal Finance Program Shari’a compliant?
A: Yes, all the products and services provided by Al Rajhi Bank are always fully Shari’a compliant.
Q: Is there a way I could sell my shares through the Bank?
A: Yes, and your shares would be sold at market prices.
Q: Will I have to pay off both the main finance and the top-up together?
A: You won’t need to pay off your top-up finance until you’ve pay off your initial Personal Finance.
Q: Can I choose the timeframe for payment of the financing installments?
A: Yes, you can choose the time period that suits you, from one to five-year plans.
Q: Can I sell the shares if I need the capital?
A: Yes, you can sell them and fulfill your needs.
Q: Is it necessary that my employing company be approved?
A: Yes, that necessity serves only to protect you and all our customers.
Q: If my employing company is not approved, will I still be able to take a Personal Finance?
A: You always have the option to provide us with your company’s name and number and we’ll contact the company to make further inquiries.
Q: How do I get my company approved with Al Rajhi Bank?
A: Just call the bank’s toll-free number and request approval for your company or visit your nearest branch for more information.
Q: Do I need to transfer my salary to my account in Al Rajhi Bank?
A: Yes, transferring your salary to the bank makes paying your installments an easier process for both you and the Bank.
Q: Can I get the Personal Finance approved in 30 minutes or less?
A: Yes, your will receive your finance in less than 30 minutes if you’re an existing customer with Al Rajhi Bank. If not, apply for an account with Al Rajhi Bank, and you will get your finance approved within 24 hours.