Personal Finance Buyout
Personal Finance Buyout
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Personal Finance Buyout
If you have indebtedness in any local bank, the bank offers the possibility of requesting a maximum financing in order to repay the customer's debt with a new contract. The rest of the financing amount will be available in the customer's account after completing the procedures.
Features:
Annual rate starts from 2.64%
Earn 30,000 mokafaa Points when you apply for buyout via alrajhi bank app
Up to 60 months tenure for Saudi and Non-Saudi*.
Competitive profit margin ratio
The speedy completion of all procedures for the customer’s financing request
Enable the customer to benefit from the financing products and other services provided by Al Rajhi Bank
Possibility of financing retired customers
Possibility of financing about to retire customers
The possibility of financing non-Saudi customers
Possibility of early repayment at any time based on the customer's request
No guarantor is required to obtain financing
A financing amount of up to 5 million riyals *
Exemption from indebtedness in the event of death or total disability, God forbid
Postponing the payment of the customers first two installments
Product Terms and Requirements:
Nationality:
That the customer is (citizen or resident) on the job or retired
Employer:
That the customer is an employee of one of the approved employers within the bank
Minimum Age:
18 years for citizens and 23 years for residents
Minimum Salary:
- For citizens: 4000 SAR
- For residents 5000 SAR
Customer Age:
The age should not exceed 60 years for employees and 75 years for retirees (when paying the last installment)
Required Documents:
Don’t have an alrajhi bank account? Create one now
How much money can you borrow?
Product Example
| Financing Amount | Maturity In Years | ||
| apr | Monthly Installment Amount | ||
| SAR200,000 | 5 | 5.61% | SAR 3,773 |
You can apply easily through
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You can also apply through the following channels
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Personal Finance Calculator :
Personal Details:
Enter Your Monthly Salary 
Current Monthly Installments Paid
- SAR 500 is monthly cashback cap
- Cashback is eligible on transactions done in the eligible cashback categories. As per T&C
- Cashback is eligible on the given credit limit.
Your Monthly Payment
SAR 0*
Your Finance Amount
SAR 0*
Total Amount Payable
SAR 0*
APR
0%
Payable Period
Months
Interested or have an inquiry?
We are more then Happy to help you Exceed your Goals in the Right ways.
You Can
- SAR 500 is monthly cashback cap
- Cashback is eligible on transactions done in the eligible cashback categories. As per T&C
- Cashback is eligible on the given credit limit.
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