Features:
Our buyout finance (through goods) will pay your existing liabilities from other banks with competitive rate and more advantages!
The Saudi Investment Bank - We Buyout Your Loan.. And More! :
Flat Rate
Starting from 3%
Minimum Salary
Government and semi-government sector: Net salary 6,000 Saudi riyals-Military sector: Net salary 9,000 Saudi riyals - Private sector: Net salary 8,000 Saudi riyals - Retirees: Net salary 5,000 Saudi riyals
Monthly Payment
Based on the amount and maturity period.
Salary Transfer
Yes
Fees & Costs:
• Administration Fee: 1% of finance amount or SAR 5,000 (whichever is less)
• Wakala Fee: SAR 500
Requirements:
Minimum Salary
Government, Semi Government and Military Sectors:
Gross salary SAR 6,000 – Basic salary SAR 5,000
Private Sector: Gross salary SAR 8,000 – Basic
salary SAR 5,000
Service period
Government, Semi-Government and Military
(Officers)
Sector: 1 Month
Military (Soldiers) Sector: 12 Months
Private Sector: 3 Months
Documents required:
• Valid ID Copy.
• Introduction letter from employer which includes salary, allowance details, and date of joining.
• Employer’s salary transfer certificate .
• No objection and debit transfer letter from the existing lending bank.
• Account statement of last 3 months (showing last 3 salaries which are verified from the previous bank).
• Copy of the work ID card specifying rank or position.
• For more information please call our toll free number at 800 124 8000.
Eligibility:
• For Saudi nationals only
• Age: Minimum is 21 years, Maximum (at maturity) is 65 years
Benefits:
• Payment Period: 6 Months – 60 Months
• Finance Amount: SAR 50,000 – SAR 3,000,0000
• Competitive rate
• 50,000 WooW Points
• 50% off administration fee
• Refinance (when settling 20% of the finance amount)
• Shari’ah compliant (based on Murabaha)
• Same day disbursement (if documents are completed)
• End-to-End digital application (through mobile application)
• Additional finance (upon salary increase)
• Free for life Credit Card
• Issuance free Travel Card
• Minimum basic salary requirement 5,000 SAR