Education Finance - Personal Finance
Education Finance
Riyad Bank provides the educational fee installment service with educational institutions through personal finance product with zero admin fee and zero profit margin.
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Loan amounts that starts from SAR 5,000 to SAR 200,000 (as per the agreement with the entity)
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Zero profit margin
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Without administrative fees
- Salary transfer is not required
More Information
The Education Finance program is considered to be a form of personal finance, therefore you must take into consideration that the maximum DBR should not exceed 33.33% of the client’s net monthly income.
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Compatible with the provisions of Islamic Sharia
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Easy and fast procedures
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Flexible repayment period starting from 6 months up to 36 months (as per the agreement with the entity)
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Exemption of heirs from the amounts due in the event of death (God forbid)
- No margin and no administration fee
For Personal Finance APR disclosure, click here
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Available for eligible customers for personal financing (new financing or additional financing)
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Customer’s age must be 18 years or above for Saudis and 22 years or above for non-Saudis
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The minimum net amount transferred is SAR 5,000
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The customer must be from the government / military / semi-governmental sector / or from the companies approved by Riyad bank from the private sector, in addition to retired customers
Visit your nearest Riyad Bank branch with the following documents:
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The merchant has to fill the form with the customer information
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The Customer must deliver the form to any of Riyad Bank branches
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The customer should be eligible according to Personal Finance program policies
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Once the customer request have been approved, the customer will receive the approved copy to deliver it to the entity
For more information please call our toll free number 800-124-2020.
Riyad Bank offers an educational Finance program under personal loan tailored for King Saud University graduate students with 0% profit margin and 0% admin fees.
Features:
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No profit margin
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No admin fees
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Financing amount starts from 5,000 SAR up to 200,000 SAR, for salary transfer
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Financing amount starts from 5,000 SAR up to 50,000 SAR, for non-salary transfer
- Flexible finance period starts of 6 to 36 months
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Compatible with the provisions of Islamic Sharia
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Exemption of heirs from the amounts due in the event of death (God forbid)
How to Apply :
- Customer choose the educational program he needs to enroll in and provide finance request signed by the university
- Visit any of Riyad Bank Branches to finalize the needed requirements
- The customer should be eligible according to Personal Finance program policies
- Once the customer request have been approved, the customer will receive the approved copy to deliver it to the University
- It requires an approved quotation from KSU to apply for Education finance.
Terms and Conditions:
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Available for eligible customers for personal financing)
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Customer’s age must be 18 years or above for Saudis and 22 years or above for non-Saudis
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The minimum net salary transferred is SAR 5,000
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The customer’s must be employee from the approved entities within Riyad Bank
