Riyad Bank - Personal Finance - Tawarruq
|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 ranked among the largest banks in Saudi Arabia and the Middle East. It has a strong corporate and retail banking port folio. Riyadh Bank is a lead financier and arranger of syndicated financing in the oil, petrochemicals, and most of the Kingdom’s key infrastructure projects. This is due to its vast expertise and large asset base accumulated over the years.
The bank offers its customers an accessible and expansive network of more than 300 branches, including 75 dedicated ladies branches, 4 ladies sections in other branches and 19 self-service electronic branches.
The bank’s services incorporate the latest electronic technologies to meet the diverse banking needs of its customers. Riyadh bank has more than 2,500 ATMs spread throughout Arabia.
Riyadh is one of the lead cities in the MENA region. Moreover, it is the capital and largest city in Saudi Arabia. In the same context with other major and heavily populated Arabian cities the likes of Jeddah and Dammam, Riyadh has a population of 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 arrived at the realization of its modern potential and position of prominence in the region after the 1940’s.This shift and change of fortune is attributable to the visionary and dynamic leadership that ruled the Kingdom from that time hence forth. Until then, the city was a dormant and retarded town.
Personal Finance –Tawarruq
We just made it easier and better for you to achieve your personal financial dreams and goals. Our Tawarruq financing solution is custom-made to help you achieve all that!
Features and benefits:
- Special packages for Saudis and residents as well;
- Balance transfer from other banks is available;
- Easy and quick processing; and
- Very competitive profit rates.
Eligibility and requirements:
- Applicants need to be 18 years of age or older at the time of applying;
- Applicants have to be employees with the public or private sector;
- Minimum monthly income of 3000 SAR; and
- Expatriates need to have worked with their current employer for at least 3 months but no service period is required for Saudis.