Lowest Rate initiative for Self-construction

An initiative to empower Saudi families to own suitable housing with the lowest rate for Self-construction financing , the customer can build on a land he owns or buy a land and build on it, the product is available for REDF customers.

Features:

1. Shariah compliant financing
2. financing period up to 25 years
3. The possibility to finance the customer to buy the land and build
4. The possibility to finance the customer to build a land owned by the customer
5. The possibility of financing an incomplete property
6. Available for salary and Non-salary transferred customers*
7. Available for approved and un-approved employers*
8. Quick and instant approvals
9. Flexible installment feature
10. Financing up to the age of 70
11. Competitive and fixed profit margin throughout the financing period
12. “waiver/exemption of outstanding finance amount in the event of death or disability” *

Terms and Required documents:

1. A statement of salary transfer from employer (in case financed with salary transfer) Copy of building permits
2. Copy of the title deed
3. Copy of building permits
4. Monthly expense declaration form
5. Valid ID
6. Salary certificate from employer
7. Saudi nationality only
8. Sketch of property location
9. Minimum age of 18
10. Minimum service 3 months*
11. Salary starts from 3,000 To 14,000.

*Terms conditions apply

Filling "financing" form Submit Now

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How to apply?

• Please visit your nearest Al Rajhi Bank branch
• Call us at 8001241222