Eligibility requirements for the Alrajhibank financing application:
☑️ Be a Saudi citizen or a legal resident in Saudi Arabia
☑️ Be aged between 18 and 60 (up to 75 if retired)
☑️ Work for an employer recognized by Al Rajhi Bank
☑️ Have a minimum monthly salary of SAR 2,000 (SAR 1,900 for retirees)
☑️ Transfer your salary to an account at Al Rajhi Bank
Documents needed for your Alrajhibank financing application:
📄 National ID card or Iqama
📄 Salary confirmation and salary definition letter
📄 Duly completed financing application form
Meeting these requirements does not guarantee approval. The bank may request further information based on internal policies.
How to apply for the Alrajhibank financing application
The Alrajhibank financing application can be submitted entirely online, either through the Al Rajhi mobile app or the official website. Once you’ve opened your account with the bank, simply fill out the digital application form with your personal, employment, and salary details. Upload the necessary documents and verify that your employer is listed as approved.
The bank will assess your request, and if it matches the internal criteria, the funds will be deposited into your Al Rajhi account. In case your application is not approved, you can try again later after adjusting your profile or submitting updated documentation.
Importantly, this financing follows Sharia-compliant principles. That means the structure is based on profit margins instead of interest rates, ensuring alignment with Islamic finance laws under the supervision of a certified Sharia Board.
How to pay off your Alrajhibank loan installments
Monthly repayments can be made through multiple channels, including the mobile app, online banking, or in person at any branch. Setting up automatic debit is recommended to avoid late fees.
Acceptable payment methods include bank transfer, debit account, and mobile wallet options integrated into Al Rajhi’s system. You can also repay the entire balance early if desired, without penalties.
Taxes and costs
The financing includes an Annual Percentage Rate (APR) starting from 3.07%, depending on your employment, salary, and risk profile. There are no early settlement fees, which allows for flexible repayment planning.
If payments are delayed, penalties may apply as per contract terms. Additionally, in the unfortunate event of total disability or death, the remaining debt may be forgiven, as part of the bank’s protection policies.
Smart money tip
One of the best ways to manage your Alrajhibank financing application is by scheduling repayment dates to align with your monthly income. This helps ensure timely payments, especially when using automatic debit.
For clients who apply through the app, the bank offers a bonus of 6,000 reward points, which can be used within their digital ecosystem. Planning extra payments during months with financial surplus can also reduce your outstanding balance and the overall cost of financing.
Start for your Alrajhibank financing today
Click below to access the official website and begin your Alrajhibank financing application quickly and securely. By completing your Alrajhibank financing application, you gain access to ethical, flexible, and fully digital personal financing. Apply today and take control of your financial goals with confidence.