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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Riyad Bank - Personal Finance Murabaha for Saudi Nationals governmental sector employees Riyad Bank - Personal Finance Murabaha for Saudi Nationals governmental sector employees Minimum Salary: SAR 2,000 Salary Transfer: No Islamic Finance: No Maximum Term: 0 Years Flat Rate: 2.22% Reducing Rate: 3.0%
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Riyad Bank purchases the desired shares on your behalf. You then have the option to sell the shares and transfer the liquidity to your current account or you can transfer the shares to your investment portfolio.

 
Features
  • Approved by Riyad Bank’s Sharia Committee
  • Competitive profit margin rates
  • Repayment period is up to 60 months
  • For salary transfer financing, all outstanding balance will be waived in case of customer’s death
  • Instant initial approval
Documents Required
  • Completed application for Murabaha Financing
  • Salary certificate
  • Salary transfer letter from the employer
  • Copy of valid Saudi national ID / Iqama
Eligibility
  • Should be 18 years and above
  • Minimum net salary should be SAR 2000
  • Period of service is not required
** 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
Minimum Salary
SAR 3000
Flat Rate
3.79%
National Commercial Bank - Personal Finance
Minimum Salary
SAR 3000
Flat Rate
3.3%
Emirates NBD - Islamic-Non-Salary Transfer Financing
Minimum Salary
SAR 15000
Flat Rate
4.84%
Samba - Personal Finance For Expatriates
Minimum Salary
SAR 2500
Flat Rate
2.22%