Minimum Balance
SAR 0
Currencies
Available in Saudi Riyals and other major currencies.
Monthly Fee
NA
Current Account
The Saudi Investment Bank - Alasalah Current Account
Description :
It is an account opened in accordance with
Islamic Sharia rules. This account allows you to issue cheques, deposit cash
and fulfill all day-to-day transactions.
Eligibility:
Age:
18 years.
15 years for Saudis holding a valid ID card.
Nationality:
Saudis.
GCC citizens with valid passport, or national
identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE),
and proof of address in the Kingdom (evidenced by a utility bill, house rental
contract, real estate title deed, or a letter from a Saudi citizen attesting to
the GCC citizen’s address) along with their home country address.
Non-Saudis (and Non-GCC) holding a valid
residency permit (Iqama).
Documents required:
• Fill out SAIB account opening application form and attach required documents.
• Attach a copy of a valid identity document
Features:
• No minimum deposit required to open the account.
• Available in Saudi Riyals and other major currencies.
• Free Cheque Book.
• Free mada Debit Card for ATM Cash Withdrawals and Point of Sale (PoS) transactions.
• Free Supplementary mada Debit Card from The Saudi Investment Bank for a family member.
• Choice of account statement frequency. You can choose either a monthly, quarterly, half-yearly or yearly frequency.
• Settling bills and payments through SADAD.
• Transferring money within the Kingdom or abroad, through payment instructions or standing orders.
• Earn WooW points on the average balance in your account each month.
Benefits:
Multiple Currencies
Available in Saudi Riyals as well as other major
currencies approved by SAIB.
Free cheque-book
Free cheque-book (Available only for Saudi Riyal
Accounts).
Account Statement
Your choice of statement frequency (i.e. monthly,
quarterly, half-yearly or yearly).
Settlement of bills and payments
Settlement of bills and payments through SADAD
and ability to transfer funds locally and internationally.
Free access to your account through multiple
channels :
Flexx Click - Internet Banking Flexx Call -
Contact Center Flexx Touch – Mobile Banking ATMs Branches
The Saudi Investment Bank - Salary Account
Minimum Balance
No minimum balance
Currencies
Available in Saudi Riyals only.
Monthly Fee
No minimum balance requirements or fall below fee is charged.
Description :
It is a Sharia compliant current account specially designed to meet the requirements of individual customers transferring salary to SAIB.
Eligibility:
Age:
18 years.
15 years for Saudis holding a valid ID card.
Nationality:
Saudis.
GCC citizens with valid passport, or national
identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE),
and proof of address in the Kingdom (evidenced by a utility bill, house rental
contract, real estate title deed, or a letter from a Saudi citizen attesting to
the GCC citizen’s address) along with their home country address.
Non-Saudis (and Non-GCC) holding a valid
residency permit (Iqama).
Documents required:
• A filled out account opening application booklet.
• Copy of a valid national ID document.
• Salary assignment letter from your employer.
• For expatriates, a letter of introduction from the sponsor is also required.
Features:
• No minimum balance requirements or fall below fee is charged.
• No minimum deposit required to open the account.
Benefits:
Saudi Riyals
Available in Saudi Riyals only.
Free cheque-book
Free cheque-book (Available only for Saudi Riyal
Accounts).
Account Statement
Your choice of statement frequency (i.e. monthly,
quarterly, half-yearly or yearly).
Settlement of bills and payments
Settlement of bills and payments through SADAD
and ability to transfer funds locally and internationally.
Free access to your account through multiple
channels :
Flexx Click - Internet Banking Flexx Call -
Contact Center Flexx Touch – Mobile Banking ATMs Branches
The Saudi Investment Bank - Travel Account
Minimum Balance
No minimum
Currencies
SAR
Monthly Fee
Description :
A one of its kind Current Account (additional account), linked to a reward structure, in the form of Travel Miles. These Travel Miles will be earned monthly based on the average monthly balance in Travel Account and redeemed against Saudia AlFursan miles by the customer through the bank's application.
Features:
Terms and Conditions
• Account can be opened and operated digitally only, through SAIB’s Mobile Banking app, and to know how to open and operate the account, click here
• Through Travel Account, the customer can make internal transfers between SAIB accounts, load, and unload transactions from Travel Card and receive incoming SARIE and SWIFT transfers only.
• Other transactions involving Outgoing SARIE, ATM withdrawals, branch withdrawals, SWIFT, cheque encashment are excluded.
• No cheque book or debit card will be issued for Travel Account.
• Each customer can open one Travel account only
• Fees are applicable to the Travel Account product as per the regular tariff of the Current Account on SAIB’s website.
• There are no charges and minimum balance requirement for opening the account.
• The customer will earn reward miles each month based on monthly average credit balance in Travel Account.
• There is no minimum or maximum amount of deposit to earn miles.
• The customer must provide the bank the correct Saudia AlFursan membership number, and the customer undertakes that the membership number is correct and owned to the same account holder and membership holder.
• Customers have to redeem the Travel Miles to their Saudia AlFursan account by themselves, through bank’s internet and mobile banking.
Benefits:
Travel Miles
Travel Miles can be earned monthly and automatically based on the average monthly balance in Travel Account.
Easy Account Management
You can easily check your account balance, track the earned, converted and redeemed miles etc., through SAIB’s Mobile Banking app.
WooW Loyalty Program
Customers will earn WooW points on all their eligible transactions.
Shari’ah compliant
Easy Miles Transfer
Travel Miles can be easily transferred to the customer’s account in Saudia Alfursan Program in orde r to buy airline tickets, upgrades seats. To know how to open and operate the account, click here
Full Digital Experience
A fully digital account, that can be opened and managed easily through SAIB’s Mobile Banking app.
No minimum Balance
There is no minimum balance requirement or hidden requirements and charges