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Property Power
Mortgage financing is offered through the sharia principle of Murabaha. Property Power is secured financing - alrajhi bank finances the customer's money secured against the home's value, The product is available for REDF customers and bank customers.
Features:
Financing period of up to 30 years.
Shariah compliant financing
financing amount up to SAR 5 Million
Financing up to the age of 70
Competitive and fixed profit margin throughout the financing period
Available for salary and Non-salary transferred customers
Available for approved and un-approved employers
“ waiver/exemption of outstanding finance amount in the event of death or disability”
Flexible installment feature
Quick and instant approvals
Grace Period up to 3 Months
Co- Borrower concept only for Non REDF customers
Terms and Required documents
A statement of salary transfer from employer ( in case financed with salary transfer)
Copy of the title deed
Monthly expense declaration form
Valid ID
Salary certificate from employer
Saudi nationality only
Sketch of property location
Minimum age of 18
Minimum service 3 months
Salary starts from 7,000 for salary transfer and 10,000 for non-salary transfer
Filling "financing" form Submit Now
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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
Via Branches
There is always a branch nearby