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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Riyad Bank - Home Finance in Cooperation with the Real Estate Development Fund Riyad Bank - Home Finance in Cooperation with the Real Estate Development Fund Minimum Salary: SAR 5,000 Salary Transfer: Yes Early Settlement Fees: Yes Maximum Term: 20 Years Flat Rate: - Reducing Rate: -
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If you are eligible for residential support, Riyad Bank offers you a range of residential financing solutions in cooperation with the Real Estate Development Fund to suit your aspirations.



Features
  • Home finance program supported by landlords: If you are eligible for housing support and have a property you wish to complete or renovate, you can get sufficient liquidity for your mortgage.
  • Subsidized home finance scheme: Riyad Bank offers innovative solutions and helps you own the property in cooperation with the Real Estate Development Fund and the Ministry of Housing.
  • Home finance for retirees: Riyad Bank offers a program of home financing for retirees in cooperation with the Real Estate Development Fund.
  • Flexible instalments: Flexible instalment mechanism for customers who are on the job with the possibility of additional financing in proportion to your current monthly deduction rate and pension.
  • Residential support calculated by salary: Amount of monthly support provided by the Real Estate Development Fund is calculated as an income added to your salary.
  • Self-construction: Self-construction financing in cooperation with the Real Estate Development Fund, which allows you to build your own home with multiple payments, which are disbursed according to the construction phase.
  • Financing of Ministry of Housing projects (ready-made units):
** 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.
Representative Example Calculator
National Commercial Bank - Residential Finance
Minimum Salary
SAR 3,000
Reducing Rate
6.71%
Alawwal Bank - Home Finance
Minimum Salary
SAR 10,000
Reducing Rate
3.33%
Samba - Ready / Under Construction Villas
Minimum Salary
SAR 5,000
Reducing Rate
9.59%
Riyad Bank - Home Equity Incomplete Property
Minimum Salary
SAR 5,000
Reducing Rate
3.33%