Al Rajhi Bank is Launching an Educational Campaign on Home Finance

RIYADH, Saudi Arabia, April 5, 2010 - Al Rajhi Bank is launching a campaign for the objective to provide
important information and facts about home finance. The campaign is built
around three main aspects: Buying on installments or renting? Does home
finance meet expectations? Is home finance complicated?

The Bank believes that home finance has a social role, which is to
facilitate home ownership for a better living. Studies on a sample of
customers have shown that the majority of customers consider home finance as
the most important to the family than other types of finance.

The campaign clarifies the 3 consecutive easy steps that will save a lot
of time and effort.

First step is to know the budget that can be borrowed, which helps in
focusing the search to the property that suits the available budget. During
this step, it is also necessary to get a general idea on the bank's
conditions about the applicant and the property.

Second step is to search for a property and since each individual has his
own needs and personal taste, there isn't any specific guide to follow. But
before taking a final decision, it is recommended to seek the advice of an
architect or the advice of an expert who can spot the quality of the
construction and the finishing. In the case of buying through home finance,
the bank always evaluates the property through specialized evaluation
companies to make sure that the property is worth its price. This is one of
the key features of home finance.

Third step is to apply for home finance. During this step it is important
to know all the requirements and conditions of the finance to avoid any delay
in the process.

The campaign also elaborates that the home ownership journey starts with
knowing the amount that can be borrowed, typically, the finance people can
borrow to buy a home is around 46 times the monthly salary for a 15 Year Plan
and around 62 times for a 25 Year Plan.

Beside the straight forward calculation of finance based on the person's
income, additional solutions can be explored. Many home finance plans are
offered with the option of having a joint-applicant. This solution comes
ideal for a couple where both the husband and wife are employed. If the
husband income is 8,000 and the wife income is 5,000, the joint income is SR
13,000 allowing them to borrow SR 600,000 for a plan over 15 years and SR
800,000 for a plan over 25 years.

For more information, please click here
(www.alrajhibank.com.sa/Individual/Solutions/Realestatefinancing/
Pages/Buying-Renting.aspx)

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    Al Rajhi Bank Website Address
    www.alrajhibank.com.sa/
    Contact Details
    Al Rajhi Bank - Marketing Department
    +966(0)1-460-33-33
    enews@alrajhibank.com.sa

Al Rajhi Bank Website Address: www.alrajhibank.com.sa/, Contact Details, Al Rajhi Bank - Marketing Department, +966(0)1-460-33-33, enews at alrajhibank.com.sa