Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Al Rajhi Bank - Instant Refinance Al Rajhi Bank - Instant Refinance Minimum Salary: SAR 0 Salary Transfer: No Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 5.47% Reducing Rate: 9.85%
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You can now get the maximum finance amount, while considering your monthly installments without the need for the early settlement of your existing Personal Finance.
Features
  • Get Personal Finance - Instantly
  • Additional Finance period of up to 60 months, subject to retirement age
  • Available to customers with one finance or more (Customer must have at least one existing Personal Finance)
  • Early settlement of existing finance is not necessary
  • Finance available for Saudi & Non-Saudi National
Documents Required
  • Completed application form for Additional Finance
  • Valid copy of National ID (plus copy of passport for Non-Saudi National)
** 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 - Personal Finance
Minimum Salary
SAR 3000
Flat Rate
3.79%
National Commercial Bank - Personal Finance
Minimum Salary
SAR 3000
Flat Rate
3.3%
Emirates NBD - Islamic-Non-Salary Transfer Financing
Minimum Salary
SAR 15000
Flat Rate
4.84%
Samba - Personal Finance For Expatriates
Minimum Salary
SAR 2500
Flat Rate
2.22%