Does Al Rajhi Bank give a loan to social security beneficiaries?
Does Al-Rajhi Bank give a loan to the beneficiaries of the guarantee? One of the major shareholding banking companies, it was able to spread all over the Kingdom of Saudi Arabia and through its 500 affiliated branches, adopting Islamic Sharia as a fixed standard for all banking and investment transactions, and thus was able to attract a large number of clients to engage in all financial and investment activities through this pioneering and unique institution Of its kind, and in this article we present the answer to whether Al Rajhi Bank gives a loan to the beneficiaries of the guarantee.
Does Al-Rajhi Bank give a loan to the beneficiaries of the guarantee?
Many customers ask a question about the possibility of Al-Rajhi Bank to give a loan to the beneficiaries of the guarantee, and as for the correct and reliable answer, that Al-Rajhi Bank does not provide loans dedicated to the beneficiaries of social security in the Kingdom of Saudi Arabia, and perhaps the right thing to do is that individuals can submit a personal loan request from Al-Rajhi Bank In a direct and easy manner, taking into account all the conditions and rules set by the bank in advance for obtaining these loans, with the submission of all documents and papers of different conditions.
See also: How to recover government payments, Al-Rajhi Bank and Al-Ahly Bank 1444
How to obtain loans for beneficiaries of the guarantee of Al Rajhi Bank
Al-Rajhi Bank won the best site in interactive creativity, as well as excellence in financial services for individuals at the level of the Gulf countries, specifically in retail banking services, as it is the best website in the Middle East. As for how to obtain loans for beneficiaries of guarantees from Al-Rajhi Bank, we explain them as follows:
- You must download the Al-Rajhi mobile application for Android devices from here.
- While downloading the Al-Rajhi application for iPhone devices from here.
- Also open the application on the mobile.
- Then the process of logging into the application with the username and password.
- Clicking on the 3 horizontal lines located at the top and right of the screen in the main menu application interface.
- The Finance Products option is also selected from the main menu.
- Then choose the type of financing that the customer wants.
- Clicking on the More Details icon requires you to know all the features and requirements for financing.
- Then click on the option Verify your eligibility to ensure that the customer is eligible for the loan.
- Enter the customer’s personal data correctly.
- Next is clicked.
- Automatically, the customer is transferred to the business entity’s details page, which contains the data, and the customer must fill it in.
- Upload personal data as follows:
- National Identity.
- Definition of salary.
- Salary transfer certificate is optional.
- As well as other data, if any, and the customer desires to upload them to the loan application.
- It requires approval of the terms and conditions, then the request will be sent successfully.
- Note that the bank determines the grace period for payment and the number of monthly installments.
- In the event that the customer deserves to obtain the loan, he will be informed of this in order to receive it.
See also: New National Bank offers 2023 for cars and personal finance
Conditions for obtaining Al Rajhi Bank loans
Al-Rajhi Bank is committed to implementing the decisions of the Sharia Board, so that no product or service is provided until after its approval by the Sharia Board. Obtaining Al Rajhi Bank loans, we explain them as follows:
- The age of the employees should not exceed 60 years, and the age of the retiree should not exceed 70 years when paying the last installment of the loan.
- Likewise, the applicant for the loan must be working for one of the well-known entities of Al-Rajhi Bank
- In addition, the bank required the applicant to obtain the loan to have the minimum monthly salary as follows:
- 2000 Saudi riyals for the employee who is on the job.
- While 1900 Saudi riyals for the retired.
- The minimum monthly salary for a resident is 5,000 Saudi riyals.
See also: Mortgage conditions in Al Rajhi Bank 2023 and how to obtain it
Papers and documents required to obtain a loan from Al Rajhi Bank
The customer can benefit from financing products and other services provided by Al-Rajhi Bank, with the possibility of early repayment at any time at the customer’s request, and requires submitting Papers and documents required to obtain a loan from Al Rajhi Bank, and we explain them as follows:
- It is required to attach a valid personal status card or residence card for expatriates.
- Also a document for defining salary data.
- And the salary fixation document.
- Also, the form for Al Rajhi Bank to apply for financing to obtain the loan.
Inquiry about the Al-Rajhi loan with the ID number
Al-Rajhi Bank made it possible to provide all facilities for inquiring about banking services through electronic services, the most prominent of which is the provision of instant notifications, which is a free service via SMS that keeps the customer constantly informed of all executed financial movements, and as an inquiry about Al-Rajhi loan with the ID number:
- In the beginning, the official website of Al-Rajhi Bank is entered from here.
- It also requires the inclusion of a photocopy of the national identity card for Saudi citizens or a copy of the residence card for expatriates, and both cards must be valid.
- Also, provide a copy of the client’s educational qualification.
- Also submit an official letter from the entity that the client works for regarding the job title and monthly salary.
- The bank displays to the customer the information provided about the types of loans for his review.
- This allows the customer to use the financing calculator to find out the possible financing value, fees and monthly installments.
Conditions for opening an Al Rajhi Bank account
When opening an account in Al Rajhi Bank, the customer gets many advantages, such as exemption from banking transaction fees on individual accounts when executing through electronic channels, as well as obtaining a 50% discount on transaction fees, as well as a 50% discount on banking fees when executing in a branch, The most prominent conditions for opening an Al Rajhi Bank account are as follows:
- The minimum age of the person wishing to open the account is 15 years.
- It is required that the customer be a Saudi national or residing in the Kingdom of Saudi Arabia.
- Also, the applicant must have a valid national ID or residence card.
- The customer has an effective e-mail.
- The applicant has an Absher account in order to link it to the new bank account and document the information.
- The customer owns a mobile phone number that works on the telecommunications networks of Saudi mobile phones.
- Availability of experience and ability for the customer to benefit from all the services and powers provided to him, including the check book, credit card, and others.
- Neither he nor his relatives should have a first-class position in the state, such as those with diplomatic missions, state officials, and military ranks from major general and above.
- In addition, the applicant’s declaration that he is of full mental faculties, and that he is qualified to open a bank account, in addition to that, that he is qualified to comply with the law and act in accordance with the regulations, and that he is not among the people with special needs.
- The applicant is required to review and agree to all terms and conditions of the electronic service for opening a bank account.
Al Rajhi Personal Finance Calculator
Through the personal finance calculator, it is possible to obtain all the information related to the monthly installments and the repayment mechanism, with the accurate calculation according to a structured approach in a digital manner and a great speed in performing financial tasks. The following is an explanation of the mechanism of work of the Al Rajhi Personal Finance Calculator:
- You must enter the Al-Rajhi Personal Finance Calculator link.
- The nationality of the applicant who wishes to obtain a loan from Al Rajhi Bank must also be specified.
- It also determines the employer for which the applicant works, private or governmental.
- The sub-sector in which the applicant works must also be specified.
- Write down the monthly salary that the client receives.
- Then click on selecting the financing period that the customer desires.
- Any current monthly installments of the applicant customer must be declared.
- With the introduction of the upper limit of financing and the amount of financing due.
- Write also the annual margin profit percentage.
- Click on the Calculate button to see the result.
Does Al-Rajhi Bank give a loan to the beneficiaries of the guarantee?