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National Day Offer - Personal Finance 

Benefits and Features

Features: (Personal Finance)

  1. Up to 60 months tenure *.
  2. Waiving Admin Fee
  3. Receive 92,000 mokafaa points upon execution contract
  4. Competitive profit rate.
  5. Completing your finance request in a timely manner.
  6. Allowing customers to benefit from all financing products and other services provided by ARB.
  7. Available for Retirees.
  8. You can apply for personal Finance on Al Rajhi Mobile App.
  9. Available for Non-Saudi customers.*
  10. Early Settlement is available at any time upon customer's request.
  11. Guarantor is not required to have a personal finance.
  12. Finance amount is up to SAR 2.5 Millions.
  13. Exemption of Finance Amount in case of passing away (God Forbid). 
  14. *Terms & Conditions Apply

Features: (Refinancing)

  1. Up to 60 months tenure *.
  2. Waiving Admin Fee
  3. Receive 92,000 mokafaa points upon execution contract
  4. Competitive profit rate.
  5. Completing your finance request in a timely manner.
  6. Allowing customers to benefit from all financing products and other services provided by ARB.
  7. Available for Retirees.
  8. You can apply for personal Finance on Al Rajhi Mobile App.
  9. Available for Non-Saudi customers.
  10. Early Settlement is available at any time upon customer's request.
  11. Guarantor is not required to have a personal finance.
  12. Ability to Consolidate your multiple Personal Finance obligations into one.
  13. Finance amount is up to SAR 2.5 Millions.
  14. Exemption of Finance Amount in case of passing away (God Forbid). *
  15. *Terms & Conditions Apply

Features: (Buyout Product)

  1. Up to 60 months tenure *.
  2. Waiving Admin Fee
  3. Receive 92,000 mokafaa points upon execution contract
  4. Competitive profit rate.
  5. Completing your finance request in a timely manner.
  6. Allowing customers to benefit from all financing products and other services provided by ARB.
  7. Available for Retirees.
  8. Available for Non-Saudi customers. *
  9. Early Settlement is available at any time upon customer's request.
  10. Guarantor is not required to have a personal finance.
  11. Finance amount is up to SAR 2.5 Millions.
  12. First two installments to be postponed for Buyout Customers.
  13. Exemption of Finance Amount in case of passing away (God Forbid) *
  14. *Terms and Conditions apply

Features: (Postponing installments Product)

  1. Waiving Admin Fee
  2. Receive 92,000 mokafaa points upon execution contract
  3. Competitive profit rate.
  4. Completing your finance request in a timely manner.
  5. Early Settlement is available at any time upon customer's request.
  6. *Terms and Conditions apply

Features: (Top up Product)

  1. Up to 60 months tenure *.
  2. Waiving Admin Fee
  3. Receive 92,000 mokafaa points upon execution contract
  4. Settlement of exist contracts not required
  5. Competitive profit rate.
  6. Completing your finance request in a timely manner.
  7. Allowing customers to benefit from all financing products and other services provided by ARB.
  8. Available for Retirees.
  9. Early Settlement is available at any time upon customer's request.
  10. Guarantor is not required to have a personal finance.
  11. Finance amount is up to SAR 2.5 Millions.
  12. Exemption of Finance Amount in case of passing away (God Forbid) *
  13. *Terms and Conditions apply

Features: (About to Retire Product)

  1. Up to 60 months tenure *.
  2. Waiving Admin Fee
  3. Receive 92,000 mokafaa points upon execution contract
  4. Competitive profit rate.
  5. Completing your finance request in a timely manner.
  6. Allowing customers to benefit from all financing products and other services provided by ARB.
  7. You can apply for personal Finance on Al Rajhi Mobile App.
  8. Early Settlement is available at any time upon customer's request.
  9. Guarantor is not required to have a personal finance.
  10. Finance amount is up to SAR 2.5 Millions*
  11. Exemption of Finance Amount in case of passing away (God Forbid)*
  12. *Terms and Conditions apply

Requirement

Requirement and Eligibility 

  1. The customer should be eligible for to get one personal finance products
  2. Initiating and executing the request should be within offer period.
  3. Activate Loyalty program through Alrajhi Application.
  4. mokafaa points will be added after 15 working days of the offer.

Offer duration

  1. The offer is valid for request, executed from September 18 to September 24, 2022

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Example: 1

Finance Amount
Maturity in Years APR  Monthly Repayment Amount
150,000 SAR 5 years  6.30 %   2,875

Example: 2

Finance Amount
Maturity in Years APR  Monthly Repayment Amount
200,000 SAR 5 years  4.37 %   3,667

Example: 3

Finance Amount
Maturity in Years APR  Monthly Repayment Amount
150,000 SAR 5 years  5.34 %  2,813

The Annual Percentage Rate (APR):

It is the discount rate at which the present value of all payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

Finance Amount:

The amount of, on balance sheet granted to the customer.

Maturity In Years:

The duration of the contract agreed upon between the parties, which shall indicate the date and expiry of the contract with the parties' with the terms of the contract

Monthly payment amount:

The installment amount the customer is obliged to pay to the bank each month until the debt is paid off

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Frequently Asked Questions:

Generally there is an admin fee of 1% of finance amount or SAR 5,000 whatever is lower
Flexi Auto Finance is structured under the shariah principle of Ijara where Al Rajhi Bank buys the car from the seller first and post-acquisition leases it to the customer over an agreed period. During the Lease period the customer pays rent and at the end of the lease period bank transfers ownership of the vehicle to the customer.
Auto Leasing Is offered under sharia structure of Ijarah muntahia bi tamleek where by at the end of lease contract after clearance of all liabilities by customers, bank will surrender its ownership of the asset to customers.
  1. Customer should be working with one of Banks approved employers.
  2. Minimum length of services should be 3 months with minimum 3 salaries credited in customers account.
  3. Minimum income requirement starts from SAR 4,000.
  4. Minimum customers age should be 21 years & maximum age at lease maturity should not be more than 65 years or retirement whatever comes first.
  5. Non Saudi Nationals should be working with employer under Nitaqat Program.
  1. Customers from both Banks approved & non approved employers can obtain auto lease facility.
  2. Minimum length of services should be 3 months with minimum 2 salaries credited in customers account.
  3. Minimum income requirement starts from SAR 2,000.
  4. Minimum customers age should be 18 years & maximum age at lease maturity should not be more than 65 years or retirement whatever comes first.
  5. Non Saudi Nationals should be working with employer under Nitaqat Program.
Nitaqat is a Saudization program introduced in 2011 by Ministry of Labor and Social Development (MSLD). Program is an initiative to create more jobs opportunities for locals in the private sector, and contribute to reaching the Nationalization targets of the National Transformation Program 2020 and Saudi Vision 2030.
  1. Minimum length of services should be 3 months with minimum 2 salaries credited in customers account.
  2. Minimum income requirement starts from SAR 2,000.
  3. Minimum customers age should be 18 years & maximum age at lease maturity should not be more than retirement age as per Ranks.
  1. Minimum length of services should be 3 months with minimum 3 salaries credited in customers account.
  2. Minimum income requirement starts from SAR 7,000.
  3. Minimum customers age should be 18 years & maximum age at lease maturity should not be more than retirement age as per Ranks.
Yes pensioners that transfer their pensions to Bank can get auto Lease facility provided.
  1. Minimum pension is SAR 1,900
  2. Minimum 3 pensions are credited in their account with Bank.
  3. Maximum age of pensioner at lease maturity is 70 years.

1- Minimum salary 5,000

2- The minimum service period is

3 months 3- The minimum age is 18 years

4- The upper age limit is 60 years

5- Attach an account statement showing the deposit of the last 3 salaries with the other bank

6- The workplace must be approved by the bank

1- Minimum salary 5,000

2- The minimum service period is one month

3- The minimum age is 18 years

4- The upper age limit (according to the retirement age in the military rank)

5- Attach an account statement showing the deposit of the last 3 salaries with the other bank