|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Riyad Bank - Land Finance||Minimum Salary: SAR 5,000||Salary Transfer: Yes||Early Settlement Fees: Yes||Maximum Term: 20 Years||Flat Rate: 1.85||Reducing Rate: 0.0|
Purchasing land with convenient financing and various payment plans.
Riyad Bank’s Land Finance offers you a Shari’a compliant way to own a plot of land with competitive profit rates and option to execute through IJARA structure (leas to own) or Murabaha structure (direct ownership)
- 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.