Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Riyad Bank - Murabaha Riyad Bank - Murabaha Minimum Salary: SAR 3,000 Salary Transfer: Islamic Finance: Maximum Term: 5 Years Flat Rate: 4.23% Reducing Rate: 7.61%
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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.
  • Sharia compliant
  • Possibility of financing pensioners up to the age of 70
  • With salary transfer, outstanding balance will be waived in case of death
Documents Required
  • Completed application for Murabaha Financing
  • Salary certificate
  • Salary transfer letter from the employer
  • Copy of valid Saudi national ID / resident Identity card
Additional Information

A person with a monthly salary of SAR 10,000, working at a governmental organization would receive a Murabaha finance as follows, provided he has no other obligations:

  • Finance amount of SAR 100,000
  • Monthly instalment of SAR 1,833
  • Admin fees of SAR 1,000
  • Shares transfer fee SAR 70
  • Purchase shares fee SAR 150
  • Sell shares fee SAR 150
  • Finance duration of 60 months
  • Total finance cost of SAR 110,000
  • APR is 4.23%
** 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