Why buying is right for you

This product offers you the opportunity to buy a home based on the principle of participation (Musharaka). The property will be owned by the bank and leased to the customer (اجارة منتهية بالتمليك). 

  • Fully Shariah compliant
  • Competitive Ijara Rate
  •  The product is on share principle between the bank and the client for buying the house and then the bank rent his share to the client 
  • The possibility of accepting the income of the spouse.
  • Registering the property in the Banks name and renting it to the customer.

Enjoy the benefits of our Ijara Home Finance

Ready to apply for your Home Finance for Locals (Ijara)?

  • Am I eligible?

Here are the things that we’ll need from you…

Eligibility & Criteria

  • Must be a salary transfer customer
  • Employment period:
    • Public Sector: over 3 months
    • Private Sector: over 6 months
    • Private Sector:(Non TML )  over 12 months
    • Professionals : over 3 Years 
       
  • Net income:
    • Public Sector: over JOD 300
    • Private Sector( TML): over JOD 400
    • Private Sector( Non TML): over JOD 500 
    • Professionals : over JOD 1000
       
  • Must be a salary transfer customer
  • Required Documents

    • Valid ID and Certificate of appointment for the military.
    • 6 months bank statement that shows your monthly income.
    • Salary Slip for the employees.
    • Property registration papers.
    • Regulatory site map.
    • Land Maps.
    • Get a quotation addressed to Al Rajhi Bank from the owner of the property.
      Get an appraisal value of the property.
       

    Fees and Charges

    Administration Fees

    1% of the funding value

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    Postal and Correspondence Fees JOD 50
    Stamps 0.003 of the funding value with the first year profits