Features:
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 Saudi Investment Bank - Murabaha Deposit( In SAR) :
Duration
Choice of investment period from 1 month to 12 months.
Minimum Amount
Minimum Deposit amount of SAR 50,000.
Annual Interest Rate
%0.4
Interest Payment frequency
Requirements:
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).
Benefits:
• 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.