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Al Rajhi Bank - Personal Finance for Retiree
Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Al Rajhi Bank - Personal Finance for Retiree Al Rajhi Bank - Personal Finance for Retiree Minimum Salary: SAR 1,900 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 3.12% Reducing Rate: 5.62%
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If you are about to retire, get your personal finance with us for up to 60 months.

Features:
  • Annual rate starts from 2.92%
  • You can get Watani financing with a maturity period of up to 60 months *
  • Competitive profit margin ratio
  • The speedy completion of all procedures for the customer’s financing request
  • Enable the customer to benefit from the financing products and other services provided
  • The ability to apply for a financing and implement it directly through the application
  • Possibility of early repayment at any time based on the customer's request
  • No guarantor is required to obtain financing
  • A financing amount of up to 2 million riyals *
  • Exemption from indebtedness in the event of death or total disability, God forbid.

    • Product Terms and Requirements:

    Nationality: 
    • That the customer is (citizen) on the job

    Minimum Salary:
    • 3000 riyals

    Customer Age:
    • Civil sector: The minimum period of service is 20 years
    • Military sector: The minimum period of service is 17 years
    • GOSI: The minimum period of service is 25 years

    Employer:
    • That the customer is an employee of one of the approved employers within the bank

    Customer Age
    • The age should not exceed 60 years for employees and 75 years for retirees (when paying the last installment)

    Required Documents:
    • National identity card
    • Salary definition
    • Salary fixation
    • Financing application form


    ** 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