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Benefits and Features at Founding day Offer

No admin fees.
APR starts from 5.6%
Earn 22,000 mokafaa points on the occasion of the founding day.

Benefits and Features

financing period up to 25 years
financing amount up to SAR 5 Million
Available for approved and un-approved employers
Financing up to the age of 70
Flexible installment feature
“ waiver/exemption of outstanding finance amount in the event of death or disability”
Competitive and fixed profit margin throughout the financing period
Co- Borrower concept only for Non REDF customers

Requirement

Terms and conditions:

Requests that qualify for waive admin fees and other offer features must be implemented within 60 days from the date of approval of the application until 2/5/2023 as a maximum.
In the event that an administrative fee is deducted from the customer, it will be returned by a maximum of 3/5/2023.

Period of Promotion:

Offer period starts from 18th Feb until 2nd Mar 2023

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Example: 1

Finance Amount
	Maturity in Years	APR	Monthly Repayment Amount
500,000 SAR	10 years	5.58 %	5,412

Example: 2

Finance Amount
	Maturity in Years	APR	Monthly Repayment Amount
750,000 SAR	15 years	5.89 %	6,222

Example: 3

Finance Amount
	Maturity in Years	APR	Monthly Repayment Amount
1,000,000 SAR	20 years	6.10%	7,125

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