Self-construction

Self-construction

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Self-construction

Self-construction financing is offered through the sharia principle of Murabaha. the customer can build on a land he owns or buy a land and build on it, the product is available for REDF customers and bank customers.

Features:

Shariah compliant financing

financing period up to 30 years

The possibility to finance the customer to buy the land and build

The possibility to finance the customer to build a land owned by the customer

The possibility of financing the customer to build of a land gifted by the ministry of housing

The possibility of financing an incomplete property

Available for salary and Non-salary transferred customers

Available for approved and un-approved employers

Quick and instant approvals

Flexible installment feature

Financing up to the age of 70

Competitive and fixed profit margin throughout the financing period

Land Conditions

financing amount up to SAR 5 Million

“ waiver/exemption of outstanding finance amount in the event of death or disability”

Grace Period up to 3 Months

ATM

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 building permits

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

Application Form

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

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You can apply through alrajhi bank Online

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Tutorial Videos

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Tutorial Videos

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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.