Home Equity Loan Program
Home Equity Program
Get the cash you need with competitive profit margins against mortgaging your own property.
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Shari’a compliant
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Competitive profit margin rates
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Flexible payment plan
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Sending the authorized evaluator within the same day
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Ability to fund before Salary depositing
More Information
Home Equity Readymade Property:
Home Equity Readymade Property is designed for customers who desire to get large amounts of cash against mortgaging their property in favor of Riyad Bank, then repossess it through flexible monthly installments.
Home Equity Incomplete Property:
Home Equity Incomplete Property from Riyad Bank provides you with financing solutions specially designed to meet your needs and offers cash in hand that will enable you to continue construction works. This gives you the ability to pay installments towards the construction progress of your property, interior and exterior.
Home Finance features and benefits:
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Financing amount up to SAR 5 million
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Possibility of having more than one finance
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Possibility of early settlement
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Cooperative insurance against all risks
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Exemption in case of death or permanent disability and transfer of ownership of the property to the heirs in accordance with the insurance coverage
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The possibility to calculate the financing amount to 77 years for the Governmental and Private sector, and 75 years to the Military sector
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For Saudis only
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Minimum monthly salary of SAR 5,000
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For government, semi-government and private sectors, as well as other bank employees
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Salary transfer is a must (excluding other bank employees)
All you need to do is visit your nearest Riyad Bank branch with the following documents:
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Copy of valid Saudi national ID
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Completed application form for Home Finance
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Completed applicant undertaking form
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Completed applicant health declaration
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Salary certificate with salary details
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Bank statement
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Deposit of valuation fees
Frequently Asked Questions
Are home Finance products Shariah-compliant?
What are the features and benefits of Riyad Bank Home Finance?
Is it possible for bank employees to get financed without transferring their salaries?
What is the maximum age required for the property?
What are the properties financed by the bank?
Can the customer have a joint finance with relatives, such as father, mother, brother, sister, or spouse?
Is it possible for a non-Saudi husband to have a joint finance with his Saudi wife?
What is the minimum down payment required when purchasing a property?
Who owns the title deed of the property?
Is there an early settlement option?
How does the profit rate change during the finance period?
Is it possible to build the land after purchasing it?
Can the customer lease the property after purchasing it?
Can the customer sell the property during the repayment period?
Can the customer have two financing products at the same time?
Is it possible to finance the purchase of an incomplete property?
Is it possible to pay quarterly or biannual installments?
Is it possible to purchase a property without transferring the salary?
Is it possible to get a Home Finance against shares/deposits?
What are the benefits of life insurance and property insurance?
What is the maximum amount of financing?
What is the minimum amount of financing that can be provided?
Apply Online - Home Equity Program
Get the cash you need with competitive profit margins against mortgaging your own property.
