Press Releases

<p>As part of its efforts to provide all financing solutions to enable its clients to own a convenient housing, Riyad Bank launched a campaign 'All roads lead a lifetime home', which offers an array of wonderful options and financing solutions – reaching more than 13 financing solutions in collaboration with the Real Estate Development Fund.</p><p>The campaign not only targets Riyad Bank's existing client but also potential clients who have been approved by the fund including the pensioners, the government, military, private employees as well as those listed by the Ministry of Housing or the Real Estate Development Fund.</p><p>Riyad bank offers remarkable financing options and solutions that cater for the needs of those who desire to own their real estate property with easy installments and competitive rates through flexible repayment plans. Together with the Real Estate Development Fund, a number of initiatives have been launched, on top of which are the pensioners' program, the flexible installment feature as well as facilitating the down payment for the Incomplete Property Program. Riyad Bank offered the Real Estate Development Fund beneficiaries who already own properties to benefit from the new campaign either through supporting the existing finance or though Home Equity Program, in addition to 'Build-it-yourself' product.</p><p>Covering all sorts of real estate over a finance period of over 30 years and accepting pensioners as well as government-employed clients paid less than SR 3000, Riyad Bank's real estate financing solutions have features that go hand in glove with Islamic Sharia regulations.</p><p>The program offers the early-payment possibility in addition to cooperative insurance against all dangers for the real estate unit, as well as exemption in case of death or total permanent disability. Also, for the record, the program enables beneficiaries to get financed till the age of 70 as long as final payment has been made. The offer includes various options and solutions to suit all target populations where it comprises financing programs and products sponsored by the Real Estate Development Fund. The bank has also improved the pensioners' real estate financing criteria so that all the retired or the would-be retired soon avail the new benefits. Additionally, the bank offered flexible installment mechanism, which – through minimizing the monthly deduction to correlate with the finance duration as it reaches the retirement pay of the newly retired – gives flexibility to beneficiaries who are still on duty.</p>