Al Rajhi bank is proud to offer for the first time a Non Salary Transfer Personal Finance solution exclusively for our doctors and bankers segments. If you are a doctor meeting our criteria, this finance is designed to meet all your financial requirements with the added feature of no salary transfer required. Applying for a Personal Finance has never been easier! Just visit any Al Rajhi Bank branch to find out more, and complete your application.
- Finance period of up to 60 months (minimum 12 months)
- Maximum finance amount up to SAR 1,000,000 (minimum SAR 50,000, subject to maximum debt burden of 33.33% of salary, including all finance obligations)
- Saudi National
- Applicant has to be an employee under the “Doctor” profession at one of the Hospitals or Clinics in the Kingdom of Saudi Arabia (employer should be approved with Al Rajhi Bank)
- Minimum monthly salary of SAR 20,000
- Additional Income from the “Doctor” profession may also be considered, subject to the bank’s income evaluation criteria
- Minimum age 25 years, with maximum age 55 years at the time of applying for the finance
- Minimum employment period of 1 year in the current employment, with total employment period of at least 3 years
- The installment repayment is to be via Standing Instruction Letter issued through the Bank where the customer’s salary is credited to the Current Account held at Al Rajhi Bank
Additional InformationFees & Charges:
- Monthly Installment: SAR 1,010
- Management Fee: SAR 500
- Tadawul Transfer Fee: SAR 70
- Annual Percentage Rate (APR): 8.72%
** 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.