Personal Loan

Saudi Awwal Bank - Personal Finance for Retirees

Flat Rate

Minimum Salary

Monthly Payment

Salary Transfer

No

Fees & Costs:

Administrative charge: 1.15%

Documents required:

• Copy of ID (Saudi nationals)/ Passport copy (GCC nationals and expatriates)/ Iqama valid for a minimum of one month (expatriates)

• A Salary Introduction Letter that is less than one month old

• Salary Assignment Letter (signed by an authorised signatory)


Eligibility:

• Customer must be between 40 and 67 years of age

• Minimum monthly pension of SAR 3,000


Features:

• Fully Shariah-compliant financing solution

• Financing from SAR 10,000 up to SAR 500,000

• Flexible repayment period from 12 up to 60 months

• No guarantor required

• Waiver of the outstanding finance amount in the event of death or permanent disability (God forbid)


Benefits:

• Fully Shariah-compliant financing solution

• Financing from SAR 10,000 up to SAR 500,000

• Flexible repayment period from 12 up to 60 months

• No guarantor required

• Waiver of the outstanding finance amount in the event of death or permanent disability (God forbid)


Saudi Awwal Bank - Financing Against Deposits Product

Flat Rate

Minimum Salary

Monthly Payment

Salary Transfer

No

Features:

• Minimum financing is SAR 50,000.

• Maximum financing up to 80 % of the Deposits amount

• Maximum payment period is 1 year

• Flexible payment options – pay Monthly, quarterly, semiannual or at the end of the term

• Available for all employed or self-employed individuals

• Available to all nationalities

• No salary transfer needed.


Benefits:

• Minimum financing is SAR 50,000.

• Maximum financing up to 80 % of the Deposits amount

• Maximum payment period is 1 year

• Flexible payment options – pay Monthly, quarterly, semiannual or at the end of the term

• Available for all employed or self-employed individuals

• Available to all nationalities

• No salary transfer needed.


Saudi Awwal Bank - Non-salary Transfer Personal Finance

Flat Rate

Minimum Salary

Monthly Payment

Salary Transfer

No

Eligibility:

• The applicant must be at least 21 years of age and maximum 58 years for government or 60 years for private sector.

• A minimum total salary of SAR 10,000.

• The applicant must be employed for at least 6 months in his/her current job.

• Available for Saudis only

• Available for approved employers list.


Features:

• Fully Shariah-compliant financing solution

• Instant approval and you can get your finance within 3 hours, if you have provided all required documentation

• Financing of up to SAR 300,000

• Repayment period of up to 5 years (60 months)

• Ability to select the repayment monthly installment date of your choice.

• Additional personal finance (top up) is possible after paying off a minimum of 20% from your current finance principle amount.

• In case of death or permanent disability (God Forbid), outstanding finance amount will be waived after providing the required documents.


Benefits:

• Fully Shariah-compliant financing solution

• Instant approval and you can get your finance within 3 hours, if you have provided all required documentation

• Financing of up to SAR 300,000

• Repayment period of up to 5 years (60 months)

• Ability to select the repayment monthly installment date of your choice.

• Additional personal finance (top up) is possible after paying off a minimum of 20% from your current finance principle amount.

• In case of death or permanent disability (God Forbid), outstanding finance amount will be waived after providing the required documents.


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