Personal Finance Programs for Saudi National

Personal Finance Program for Governmental Sector Employees:

Conditions:

• Should be 18 years and above
• Minimum net salary should be SAR 3,000
• Period of service is not required
• Salary transfer to Riyad Bank through SARIE system

Features:

• Approved by Riyad Bank’s Sharia Committee
• Competitive profit margin rates
• Repayment period is up to 60 months
• For salary transfer financing, all outstanding balance will be waived in case of customer’s death (May Allah forbid)
• Instant initial approval
   

Personal Finance for Military Sector:

Conditions:

• Should be 18 years and above.
• Minimum net salary of SAR 3,000
• 12-months service period for those whose salary is between SAR 3,000 to SAR 3,999
• No service period is required for those whose salary is SAR 4,000 and above
• Retirement age for military ranks will be taken in account before approval
• Salary transfer to Riyad Bank through SARIE system

Features:

• Approved by Riyad Bank’s Sharia Committee
• Competitive profit margin rates
• For salary transfer financing, all outstanding balance will be waived in case of customer’s death (May Allah forbid)
• Repayment period is up to 60 months
• Instant initial approval
   

Personal Finance Program for Large Corporations Employees:

Conditions:

• Should be 18 years and above
• Minimum net salary of SAR 5,000 and above
• 3-months service period for those whose salary is between SAR 5,000 to SAR 7,999
• 1 month service period for those whose salary is above SAR 8,000
• A letter from employer confirming the salary assignment to Riyad Bank

Features:

• Approved by Riyad Bank’s Sharia Committee
• Competitive profit margin rates
• For salary transfer financing, all outstanding balance will be waived in case of customer’s death (May Allah forbid)
• Instant initial approval
• Repayment period is up to 60 months
   

Personal Finance Program for Private Sector Employees:

Conditions:

• Should be 18 years and above
• Minimum net salary of SAR 5,000 and above
• 3-months service period for those whose salary is between SAR 5,000 to SAR 7,999
• 1 month service period for those whose salary is above SAR 8,000
• A letter from employer confirming the salary assignment to Riyad Bank

Features:

• Approved by Riyad Bank’s Sharia Committee
• Competitive profit margin rates
• For salary transfer financing, all outstanding balance will be waived in case of customer’s death (May Allah forbid)
• Instant initial approval
• Repayment period is up to 60 months
  
   

Personal Finance program for Employees of Non-Approved Companies:

Conditions:

• An approved company is not required
• Must be a Saudi National
• Should be 18 years and above
• Minimum net salary of SAR 8,000
• Minimum period of service is 6 months
• Salary transfer to Riyad Bank through SARIE system
• Salary certificate letter certified by the Chamber of Commerce
• A letter from employer confirming the salary assignment to Riyad Bank
• Wages and contribution periods certificate from GOSI

Features:

• Finance of up to SAR 500,000
• Repayment period is up to 60 months
• Approved by Riyad Bank’s Sharia Committee
• Competitive profit margin rates
• For salary transfer financing, all outstanding balance will be waived in case of customer’s death (May Allah forbid)
• Instant initial approval