Tawarruq personal financing is a tailored program that gives you easy access to cash in a Shari’a compliant manner.

Tawarruq is a sharia compliant finance method, with which you can raise loan finance through buying installments in a local commodity, owned by the Bank. The applicant then authorizes whom he see's to sell his shares in the commodity according to the form approved from the sharia’a committee. Then the agent deposits the proceeds into his account.

• Approved by Riyad Bank’s Shari’a Committee.
• Possibility of financing pensioners up to the age of 75
• For salary transfer financing, all outstanding balance will be waived in case of customer’s death (may God forbid)

For Personal Finance APR disclosure, click here

For Saudis

Conditions for the Personal Finance Program for Governmental Sector Employees:

• Should be 18 years and above
• Minimum net salary should be SAR 3,000
• Salary transfer to Riyad Bank through SARIE system

Conditions for the Personal Finance Program for Military Sector:

• Should be 18 years and above.
• Minimum net salary of SAR 5,000
• Length of service 3 months
• Retirement age for military ranks will be taken in account before approval
• Salary transfer to Riyad Bank through SARIE system

Conditions for the Personal Finance Program for Large Corporations Employees:

• Should be 18 years and above
• Minimum net salary of SAR 3,000 and above
• Length of service 1 month
• A letter from employer confirming the salary assignment to Riyad Bank

Conditions for the Personal Finance Program for Private Sector Employees:

• Should be 18 years and above
• Minimum net salary of SAR 8,000 and above
• Length of service 3 month
• A letter from employer confirming the salary assignment to Riyad Bank

Conditions for the Personal Finance program for Employees of Non-Approved Companies:

• An approved company is not required
• Must be a Saudi National
• Should be 18 years and above
• Minimum net salary of SAR 15,000
• Minimum period of service is 12 months
• Salary transfer to Riyad Bank through SARIE system
• Salary certificate letter certified by the Chamber of Commerce
• A letter from employer confirming the salary assignment to Riyad Bank
• Wages and contribution periods certificate from GOSI

Conditions for the Personal Finance Program for Employees in the Governmental Sector:

• Should be 22 years and above
• Minimum net salary of SAR 5,000
• Minimum period of service is 3 months
• Salary transfer to Riyad Bank through SARIE system
• A letter from employer confirming the salary assignment to Riyad Bank

Conditions for the Personal Finance Program for Large Corporations Employees:

• Should be 22 years and above
• Minimum net salary of SAR 5,000
• Minimum period of service is 3 months
• Salary transfer to Riyad Bank through SARIE system
• Finance amount is granted to the customer based on the employment contract period or end of service allowance

Conditions for the Personal Finance Program for Private Sector and Large Corporations Employees:

• Should be 22 years and above
• Minimum net salary of SAR 10,000
• Minimum period of service is 6 months
• Salary transfer to Riyad Bank through SARIE system
• Finance amount is granted to the customer based on the employment contract period or end of service allowance

Conditions for the Personal Finance Program for Pensioners:

• The customer must not exceed 75 years at the last installment date
• Minimum net salary of SAR 2,000
• Salary must be transferred to Riyad bank
• Salary transfer to Riyad Bank through SARIE system

All you need to do is visit your nearest Riyad Bank branch with the following documents:

• Completed application for Tawarruq Financing
• Salary certificate
• Salary transfer letter from the employer

Riyad Bank customers can also apply for Personal Finance through Riyad Online or Riyad Mobile.

For more information please call our toll free number 800-124-2020.