Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Al Rajhi Bank - Non Salary Transfer Personal Finance for Bank Employees Al Rajhi Bank - Non Salary Transfer Personal Finance for Bank Employees Minimum Salary: SAR 20,000 Salary Transfer: No Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 8.72% Reducing Rate: 15.7%
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Al Rajhi bank is proud to offer for the first time a Non Salary Transfer Personal Finance solution exclusively for our doctors and bankers segments. If you are a banker meeting our criteria, this finance is designed to meet all your financial requirements with the added feature of no salary transfer required. Applying for a Personal Finance has never been easier! Just visit any Al Rajhi Bank branch to find out more, and complete your application.
Features
  • Finance period of up to 60 months (minimum 12 months)
  • Maximum finance amount up to SAR 500,000 (minimum SAR 50,000, subject to maximum debt burden of 33.33% of salary, including all finance obligations)
Eligibility
  • Saudi National
  • Applicant has to be an employee at one of the Commercial Banks in the Kingdom of Saudi Arabia, working and residing in the Kingdom
  • Minimum monthly salary of SAR 20,000
  • Minimum age 25 years, with maximum age 55 years at the time of applying for the finance
  • Minimum employment period of 1 year in the current employment, with total employment period of at least 5 years
  • The installment repayment is to be via Standing Instruction Letter issued from the Bank where the customer’s salary is credited to the Current Account held at Al Rajhi Bank
Additional Information
Fees & Charges:
  • Management fee: SAR 500
  • Tadawul Transfer Fee: SAR 70
  • Tadawul Purchase Fee (0.0012): SAR 60
  • Annual Percentage Rate: 8.72%
** 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
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