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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: 3.68% Reducing Rate: 6.62%
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We are proud to offer you fully Sharia’a compliant personal finance in less than 30 minutes! Yes, 30 minutes is all it will take to provide you with the means to renovate your home, prepare your dream wedding, ensure your children’s education, or simply deal with those troublesome and unexpected expenses.  
Features
  • Finance Amount: starting from SR 50,000
  • Tenure: 60 months
Documents Required
  • Completed application form for Personal Finance
  • Valid copy of National ID
  • Pension Certificate from the Public Pension Agency for the Public sector and GOSI for Private Sector
Eligibility
  • Pension should be transferred to Al Rajhi Bank
  • Minimum monthly pension starting from SR 1,900
  • Age should not exceed 70 years when you settle your last installment
Additional Information
Fees & Charges: 
  • Monthly installment: SR 900
  • Management Fee: SR 500
  • Tadawul Transfer Fee: SR 70
  • Annual Percentage Rate (APR): 3.68%
** 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
SABB - Personal Finance
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SAR 3000
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3.79%
National Commercial Bank - Personal Finance
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SAR 3000
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3.3%
Emirates NBD - Islamic-Non-Salary Transfer Financing
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SAR 15000
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4.84%
Samba - Personal Finance For Expatriates
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SAR 2500
Flat Rate
2.22%