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)
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
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)