Watani Extra Financing Based on Customer’s Additional Income

Watani Extra Financing Based on Customer’s Additional Income

Apply Now

Don’t have an alrajhi bank account? Create one now

Watani Extra Financing (Extra)

Based on Customer’s Additional Income

A feature that allows customers—whether their salary is transferred to Al Rajhi or not—to benefit from extra financing if they have an additional source of income.

Features

  1. Competitive profit rate
  2. Fast completion of all customer financing procedures
  3. Enables customers to benefit from financing products and other services offered by Al Rajhi Bank
  4. Financing available for retired customers
  5. Early settlement option available at any time upon customer’s request
  6. No guarantor required for financing
  7. Debt waiver in case of death or total disability, God forbid*
  8. *Full admin fee waiver. (Limited time offer till 30-06-2025)

Don’t have an account with alrajhi bank? Open your account now

Example of the feature:

Example: A customer has a net salary of SAR 10,000 and an additional income of SAR 5,000. They wish to apply for the Extra product. (50% of the average additional income is considered)

Calculation of Additional Income

Amount Salary information
12,500 Calculated Salary
4,166.25 Installment
3.10% Rate
216,428.57 SAR Financing Amount 

Extra calculation

Amount Salary information
12,500 Calculated Salary
5,625 Installment
3.10% Rate
292,207 SAR Financing Amount 

FAQS:


  1. What are the applicable interest rates?
      2. Rates depend on the client’s salary and employer classification and are shown during application.
  2. Is Extra available for all financing products?
      3. No,it is only available for new personal finance product (Watani-1).
  3. Can a client apply for Extra without additional income?
      4. No, additional income is a requirement.
  4. Can a new client with no existing contracts benefit from Watani Extra?
      5. No, they must first apply for a salary-transfer loan with 33.33% deduction, then apply for Extra using the remaining deduction balance.
  5. Can a non-salary-transfer client with additional income benefit from Watani Extra?
      6. Yes, if they have additional income registered with the bank, they can apply.

Don’t have an alrajhi bank account? Create one now

How much money can you borrow?

The first step for you is to explore the amount you can borrow. Typically, you can borrow up to 53 times your salary to buy a land. The tables will give you closer idea.

Single Applicant

Your Monthly Salary You Can Borrow You Pay Monthly
20 Years 30 Years
SAR 5,000 SAR 353,357 SAR 477,454 SAR 2,500
SAR SAR 8,000 SAR 621,908 SAR 840,318 SAR 4,400
SAR 10,000 SAR 848,057 SAR 1,145,889 SAR 6,000
SAR 12,000 SAR 1,060,071 SAR 1,432,361 SAR 7,500
SAR 15,000 SAR 1,272,085 SAR 1,718,833 SAR 9,000


Joint Applicants

Your Monthly Salary Salary of Joint–Applicant You Can Borrow You Pay Monthly
20 Years 30 Years
SAR 5,000 SAR 3,000 SAR 621,908 SAR 840,318 SAR 4,400
SAR 7,500 SAR 5,000 SAR 954,064 SAR 1,289,125 SAR 6,750
SAR 10,000 SAR 8,000 SAR 1,272,085 SAR 1,718,833 SAR 9,000
SAR 12,000 SAR 10,000 SAR 1,590,106 SAR 2,148,541 SAR 11,250
SAR 15,000 SAR 12,000 SAR 1,908,127 SAR 2,578,249 SAR 13,500

You can also apply through the following channels

Apply Now

You can apply through alrajhi bank Online

Login Now
branch

Via Branches

There is always a branch nearby

Find a Branch

Tutorial Videos

View All

Tutorial Videos

View All

Frequently Asked Questions:

Yes. All ARB Home finance products are Shariah compliant and have been designed on the basis of Islamic principles.
Yes, according to the terms of early settlement. You can contact us to find out more about the conditions.
You would need to make an immediate repayment of the principle outstanding amount by way of early settlement and we would transfer the title in your name or to the person you requested.