Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Al Rajhi Bank - Instant Refinance Al Rajhi Bank - Instant Refinance Minimum Salary: SAR 2,000 Salary Transfer: No Islamic Finance: Yes Maximum Term: 0 Years Flat Rate: 5.47% Reducing Rate: 5.0%
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The bank provides the possibility of consolidating the customer’s obligations from the personal finance contracts with the bank in one contract by paying them through a third party. A maximum financing is implemented so that the third-party contract is paid, and the rest of the finance amount is available in the customer’s account. The product is also available to customers who have one personal finance.

  • Annual rate starts from 3.17%
  • Earn 50,000 mokafaa Points when you apply for watani 2 via alrajhi bank app
  • 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 by AlRajhi Bank
  • Possibility of financing retired customers
  • The ability to apply for a financing and implement it directly through the application
  • The possibility of financing non-Saudi customers
  • Possibility of early repayment at any time based on the customer's request
  • The possibility of consolidating the client's obligations for more than one financing in one contract.
  • No guarantor is required to obtain financing
  • A financing amount of up to 2.5 million riyals
  • Exemption from indebtedness in the event of death or total disability, God forbid
  *Terms & Conditions Apply

Product Terms and Requirements:

  • That the customer is (citizen or resident) on the job or retired

Minimum Salary:
  • For citizens: 2000 riyals and 1900 for retirees
  • For residents: 5000 riyals

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

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

Minimum Age
  • 18 years for citizens and 23 years for residents

Required Documents:
  • National identity card or residency card for residents
  • Salary definition
  • Salary fixation
  • Financing application form
Documents Required
  • Completed application form for Additional Finance
  • Valid copy of National ID (plus copy of passport for Non-Saudi National)
** 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
Riyad Bank - Tawarruq
Minimum Salary
SAR 3000
Flat Rate