home-finance

Military financing

Home Finance Initiative For Military Personnel.. For all REDF home financing products & solutions

Products

  1. Home Finance (subsidized finance)
  2. Self – Construction
  3. Market Ready Units
  4. Home under construction
  5. Ministry of Housing Ready Units
  6. Home Finance Initiative for Military Personnel
  7. Finance guarantees ( for Military retirees or near retirement)

Ex. If a military personnel gets a home finance with a total amount of SAR 700,000, REDF will subsidize the profit amount of SAR 500,000 and the rest of profit of SAR 200,000 will be paid by the military personnel.

 

It is wrong to make the decision of owning a home based on the changes in home prices - Khaled Al Rubaish
Owning a home at young age means avoiding rent and its successive increases as early as possible - Saad Al Asmari
Buying a home makes it clear to you on what you own and what your monthly payments are - Ali Al Qahtani

Terms and Conditions

  • Terms and Conditions

    *Terms & Conditions of Alrajhi Bank will Apply

How To Apply

  • Please visit your nearest Al Rajhi Bank branch
  • Call us at 8001241222
  • Apply Online
  • Am I Eligible?

Here are the things that we’ll need from you…

Eligibility & Criteria

  • Minimum Age 21 Years
  • Maximum Age 60 Years (or as per military retirement age)
  • Length of service: 6 months for government employees and 12 months for private companies


Required Documents

  • Application Form
  • Salary Certificate sealed by employer
  • Verified copy of national ID
  • Salary Assignment letter in favour of ARB/customer current account or the approved SAREA form
  • Copy of Title Deed (both sides)
  • Copy of Building permits (both sides)
  • Property location sketch diagram
  • If there is a difference in the LAND dimensions between the title deed and the ground, a letter from municipality needs to be obtained

FOR ENQUIRIES CALL:

+9668001241222
Frequently Asked Questions:
  • What happens if I want to sell the property before the financing is paid off?
    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.