Al -Rajhi Bank expands real estate financing solutions to meet the needs of the Saudis .. Learn about the conditions

Al -Rajhi Bank, one of the most prominent banking institutions in the Kingdom, continues to enhance real estate financing options for citizens through various solutions that suit the needs of individuals in terms of financial ability and real estate type.

With the growing demand for housing, real estate financing has become a key choice for families seeking housing stability without huge immediate burdens.

Among the available solutions, “subsidized real estate financing” is highlighted in cooperation with the Real Estate Development Fund, where the applicant is required to be a Saudi national and those registered in official support programs.

This type of financing gives the opportunity to obtain an amount of up to 500 thousand Saudi riyals, with a flexible payment period that may extend up to 30 years, provided that the salary is transferred to the bank.

The irony here is that the minimum salary required is characterized by the relative decrease, as it is sufficient for it to be 2000 riyals for the employee and 1900 riyals for the retired, which reflects a trend towards broader inclusion of the segments of society.

As for the ordinary real estate financing, it is dedicated to those who seek to buy a ready -made property, enough or apartment, and it is required that the applicant be a Saudi who works in an accredited authority, with the necessity of transferring the salary.

Here the conditions differ slightly, as the minimum salary ranges between 5,000 riyals for employees in the government sector, and 7500 riyals for the private sector, with a service period ranging between 6 to 12 months depending on the nature of the job.

The bank gives a flexible ceiling for financing by salary, up to 82 times the monthly income in some cases, giving the borrower a greater ability to acquire high -value properties.

The matter does not stop at the financial conditions, but rather requires clear documents that include the national identity, a definition of salary, a copy of the real estate instrument, an accurate map of the site, and the salary transfer model, as the procedures may seem routine, but they form

A necessary step to ensure the seriousness of the applicant and determine the eligibility of financing.

In general, the conditions of Al -Rajhi Bank reflect a deliberate flexibility aimed at facilitating real estate ownership of Saudi families, while maintaining financial controls that guarantee sustainability, and open the door to more options suitable for medium and weak entry.

With rapid urban expansion, these programs are gaining increasing importance in supporting the dream of housing for a wide segment of society.