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: 0.0
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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.

Get the cash you need with competitive profit margins against mortgaging your own property.

  • Shari’a compliant
  • Competitive profit margin rates
  • Flexible payment plan
  • Sending the authorized evaluator within the same day
  • Ability to fund before Salary depositing

Home Equity Incomplete Property:

Home Equity Incomplete Property from Riyad Bank provides you with financing solutions specially designed to meet your needs and offers cash in hand that will enable you to continue construction works. This gives you the ability to pay installments towards the construction progress of your property, interior and exterior.

Home Finance features and benefits:

  • Financing amounts up to SAR 5 million 
  • Possibility of having more than one finance 
  • Possibility of early settlement
  • Cooperative insurance against all risks
  • Exemption in case of death or permanent disability and transfer of ownership of the property to the heirs in accordance with the insurance coverage
  • The possibility to calculate the financing amount to 77 years for the Governmental and Private sector, and 75 years to the Military sector

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 rate on the product which is equivalent to 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.
Representative Example Calculator
Samba - Ready / Under Construction Villas
Minimum Salary
SAR 5,000
Reducing Rate