Eligibility requirements for Riyad Bank Online Finance
☑️ Saudi and non-Saudi residents eligible for personal financing
☑️ Minimum age of 18 for Saudis and 22 for non-Saudis
☑️ Active registration on the Riyad Mobile app
Required documents to apply
📄 Valid national ID or Iqama
📄 Proof of current income
📄 Recent proof of residency
Approval depends on fulfilling these criteria. Riyad Bank may request additional documents if necessary.
How to apply for Riyad Bank Online Finance
To begin your Riyad Bank Online Finance application, access your account via Riyad Online or the Riyad Mobile app. From the main menu, choose “Apply,” then select “Personal Financing – Tawarruq” or “Refinancing.”
Fill out the required personal and financial information, select your preferred amount and repayment term, attach the necessary documents, and accept the terms and conditions before submitting. Approval is subject to Riyad Bank’s internal assessment, and if not approved immediately, you may reapply at a later time.
How to pay your Riyad Bank Online Finance installments
Loan payments are deducted directly from the bank account linked to your financing agreement. Riyad Bank allows you to choose the due date that best fits your income cycle, helping to maintain on-time payments.
You can manage your installments through Riyad Online or the mobile app, and set up automatic payments for added convenience.
Rates and fees
Riyad Bank Online Finance includes a competitive annual percentage rate (APR), with an estimated starting point around 2.92%. For example, a SAR 50,000 loan over 5 years would result in monthly payments of SAR 885.42.
This APR is not fixed and may vary depending on customer classification and profile. Late payments can lead to additional charges. The use of the Nafith platform for issuing a digital promissory note is also required as part of the process.
A tip for your wallet
Take advantage of early repayment options by making additional payments when you can—this reduces your overall financing cost. Riyad Bank also allows refinancing once 20% of your original loan has been repaid, which can help consolidate further needs under a single agreement.
Setting your installment date close to your salary deposit can minimize risk of missed payments and related fees.
Start your Riyad Bank Online Finance request today
Click the button below to visit the official website and begin your Riyad Bank Online Finance application. You’ll find all the information needed about rates, requirements, and next steps right there.