Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Riyad Bank - Home Equity Readymade Property Riyad Bank - Home Equity Readymade Property Minimum Salary: SAR 5,000 Salary Transfer: No Early Settlement Fees: Yes Maximum Term: 20 Years Flat Rate: 0% Reducing Rate: 0%
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Cash in hand against your property to release some of the value built up with competitive profit margins Riyad Bank’s Home Equity program for readymade properties provide you with funds that help address various financial needs.
Features
  • Shari’a compliant
  • Maximum finance Amount
  • Competitive profit margin rates
  • Flexible payment plan
Documents Required
  • Copy of valid Saudi national ID
  • Completed application form for Real-estate finance
  • Completed applicant undertaking form
  • Completed applicant health declaration
  • Letter from applicant’s employer with salary details
  • Bank statement
  • Deposit of valuation fees
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the APR, which is going to be calculated in this example.
Years: This is the original term or length of the product, stated in years.
Effective Monthly Payment: This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%): The calculated Annual Percentage Rate(APR) is determined using the annual interest rate on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
SABB - Home Finance
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SAR 5,000
Reducing Rate
4.99%
ANB - Al Manzel Al Mubarak Finance
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SAR 5,000
Reducing Rate
5.38%
Riyad Bank - Land Finance
Minimum Salary
SAR 5,000
Reducing Rate
6.12%
Samba - Ready / Under Construction Villas
Minimum Salary
SAR 5,000
Reducing Rate
9.59%