SAIB Time Deposit agreement form. 

• Available in Saudi Riyals.

• Investment period

 Choice of investment period from 1 week to 12 months.

• You have the flexibility to choose a term that best suits your needs. The rate of interest does not change during the term of the deposit.

• This is a conventional banking product offered only at our Regional Head Office branches in Khobar, Jeddah, Jubail and Riyadh. 

• Interest is paid on maturity and can either be added to the principal amount and rolled-over for another period or credited to your account.

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).

The SAIB Murabaha Deposit allows you to make a healthy profit on your money in a safe and Shariah-Compliant manner. The Bank enters into a contract with you to invest your money in a selected commodity at an agreed price. You make a profit by selling the commodity at a future date at a higher price. 

• The minimum investment is 50,000 riyals. 

• Available in Saudi Riyals. 

• The minimum investment period is 3 months if the investment amount ranges from 50 thousand Saudi riyals to 100 thousand Saudi riyals.