Home Finance products from Riyad Bank offer you Shariah-compliant financing solutions based on the principles of Murabaha and Ijara. Customers can purchase the property of their choice with flexible payment plans and competitive profit margins.
- Shari’a compliant
- Maximum finance Amount
- Competitive profit margin rates
- Flexible payment plan
- 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.