FAQs
Q: Can I get the Watani top-up loan when I'm still repaying my first loan?
A: Yes, after over 25% of your installments for your first loan 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 Watani Program Sharia compliant?
A: Yes, all the products and services provided by Al Rajhi Bank are always fully sharia 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 Watani loan and the top-up Watani together?
A: You won’t need to pay off your top-up loan until you’ve pay off your initial Watani loan.
Q: Can I choose the timeframe for payment of the Watani loan 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: Should the applicant's company always be approved?
A: Yes, it is necessary to have the applicant’s company in our approved companies list to protect our customer.
Q: If the applicant's company is not approved, will the applicant still be able to take a loan?
A: The applicant can provide the company’s name and number to the bank. The bank will then contact the company to inquire.
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 my loan approved in 30 minutes or less?
A: Yes, your loan will be approved in 30 minutes or less 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 loan approved within 24 hours.