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

 
Features
  • Up to 20% down payment and up to SAR 140,000 of home price
  • Sharia Complaint Financing
  • Quick Financing Approval
  • REDF subsidizes the home finance profit 100% all military personnel with salary less than SAR 14,000 (home finance amount SAR 500,000)
  • REDF subsidizes the home finance profit 35% to 100% all military personnel with salary more than SAR 14,000 (home finance amount SAR 500,000)
  • Step down financing solution for (Retirees finance or pre- retirement to age 70 years old)
  • Step up financing solution on various products.
  • Allow customers to choose from wide options through signed developers with the bank to obtain a distinctive property at reduced prices.
  • Annual Percentage Rate is 5.82% for Ijara & Murabaha products
  • Management fees equals to 1% of finance amount or SAR 5,000 whichever is less

Products*

  • Home Finance (subsidized finance)
  • Self – Construction
  • Market Ready Units
  • Home under construction
  • Ministry of Housing Ready Units
  • Home Finance Initiative for Military Personnel
  • 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.

How to apply?

  • Please visit your nearest Al Rajhi Bank branch
  • Call us at 8001241222

  • Apply Online

Terms and Conditions

*Terms & Conditions of Alrajhi Bank will Apply

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