Riyad Bank - Personal Finance - Murabaha
|Minimum Salary needed||3,000 SAR|
|Maximum amount available||Not mentioned|
|Length of Loan||Not mentioned|
|Profit Rate||Not mentioned|
|Upfront Fees ( if any )||Not mentioned|
|Eligibility||Should be 18 years of age or older ; Should be an employee with the public or private sector; Expatriates should be working with their current employer for at least 3 months|
|Main Features||Approved by Riyad Bank’s Sharia Committee; Possibility of lending pensioners up to the age of 70 years with extra privileges; For salary transfer financing, all outstanding balance will be waived in case of customer’s death (may God forbid)|
Riyadh Bank is one of the largest banks in Saudi Arabia and the Middle East, with a strong corporate and retail banking port folio. Mobilizing its substantial capital base and with decades of expertise to assume a leading role in all areas of Saudi finance, Riyadh Bank is a leading financier and arranger of syndicated loans in the oil, petrochemicals, and most of the Kingdom’s notable infrastructure projects.
We offer our customers an accessible and expanded network of more than 300 branches, which includes 75 dedicated ladies branches, 4 ladies sections in other branches and 19 self-service electronic branches.
Our internet banking services use the latest electronic technologies to meet the varied banking needs of our customers. The bank has more than 2,500 ATMs located throughout the kingdom.
Riyadh is one of the prime cosmopolitans in the larger MENA region. Besides,it is the capital and largest city in Saudi Arabia. In the same spirit with other large and densely populated Arabian cities the likes of Jeddah and Dammam, Riyadh is a home to 5.7 million people.
For administrative purposes, the city is divided into 15 municipal districts that are headed by Riyadh Municipality, under the headship of the city’s mayor.
Riyadh has come to the realization of its current potential and position of significance in the region after the 1940’s.This is attributed to the visionary leadership that ruled the Kingdom from that time hence forth. Before that, it was a dormant and stagnant hub.
All things personal: financial goals, dreams, aspirations and much more is what our personal loan is tailored to finance.
Core features and benefits:
- Possibility of lending pensioners up to the age of 70 years with extra privileges;
- For salary transfer financing, all outstanding balance will be waived in case of customer’s death;
- Competitive profit margin rates;
- A wide choice of authorized dealers;
- Shariah- compliant; and
- Available for pensioners and trainees of military and recognized companies.
Eligibility and requirements:
- Applicants should be 18 years of age or older;
- Employee with the public or private sector;
- Minimum monthly income of 3,000 SAR; and
- Expatriates should have worked with their current employer for at least 3 months.