Al Rajhi Bank: The Leading Provider of Sharia-Compliant Loans and Financing in Saudi Arabia

Al Rajhi Bank is one of the main pillars of the financial system of the Kingdom of Saudi Arabia, providing a wide range of financial services that meet the needs of citizens with high efficiency. The bank is known for providing loans and financing with systems that comply with Islamic Sharia, making it the preferred choice of many Saudis.

The first advantage of funding at Al Rajhi Bank is its full commitment to Islamic Sharia. The bank is known for its strict application of the principles of Islamic finance, which means that all financial transactions are interest-free and carried out transparently and honestly. Rajhi are characterized by repayment periods of up to 5 years, which enable customers to spread the financial burdens in an easy and suitable way for their specific circumstances.

AndAl Rajhi Bank provides financing in large amounts of up to 2 million Saudis, enabling customers to achieve their main goals, whether they are buying a property, setting up a business, or that there are other major needs to transfer a salary or provide a guarantor, which makes the process of obtaining financing easier and faster compared to other banks that may require such guarantees .

Al Rajhi Bank provides financing to employees and retirees alike, and this is a huge benefit that allows a wide section of society to benefit from the bank’s services.

Basic rules for obtaining funding

1. Specified age of customers
   • Citizens: Applicants must be at least 18 years old.
   • Resident aliens: They must be at least 23 years old.
   • Employees: They must not be more than 60 years old at the end of the funding period.
2. Income requirements
   • For retirees: The monthly income must be less than 1,900 Saudi riyals. This condition guarantees the bank’s ability to meet its financial obligations and pay installments regularly.
3. Required documents
   • Buyers must provide a set of basic and necessary documents that include personal identification, income statement, as well as any other documents that may be necessary to evaluate the application . These documents help the bank to verify the validity of the data provided and to assess the applicant’s financial capacity.