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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Riyad Bank - Home Equity Incomplete Property Riyad Bank - Home Equity Incomplete Property Minimum Salary: SAR 5,000 Salary Transfer: Yes Early Settlement Fees: Yes Maximum Term: 20 Years Flat Rate: 1.85% Reducing Rate: 3.33%
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Riyad Bank’s Ijara finance structure caters for home financing solutions towards incomplete properties and offers cash in hand to take the stress out of financing a building under construction. This gives you the ability to pay installments towards the construction progress of your property, internally and externally.

Obtaining cash to fund the construction progress of your property. With the Home Equity program for incomplete properties, Riyad Bank supports you with making payments towards the completion of construction.
  • Shari’a compliant
  • Up to SAR 5 Million finance
  • Competitive profit margin rates
  • Flexible payment terms of up to 240 months
  • Shari’a compliant
  • Up to SAR 5 Million finance
  • Competitive profit margin rates
  • Flexible payment terms of up to 240 months
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 of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
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