Postponement of Installments is a new feature that allows you to postpone personal finance installments for a maximum period of three months from the beginning of acquiring the finance.
Through this feature you can enjoy your fund in addition to your monthly salary without any deduction during the first three months. You’ll only start paying with comfort in the specified dates after the deferral period for a period not more than 60 months.
Period of Postponement Allowed
You can now choose the postponement period that suits your financial obligations. Please note that you can postpone a month, two months or three months’ installments as maximum.
Required Documents and Procedures
- The client must be a Saudi national.
- The minimum age is 22 years old.
- The minimum salary is SR 7000.
- The minimum period of work is three months.
- The client is an employee of one of the following government sectors:
- Civil government sector
- Military government sector
- Health sector
- Education sector
6. Or that the client is an employee in the private sector at a major and approved company.
How to get this feature ?
You can get this feature at the application stage (you must meet all requirements for admission).
Note: You cannot get this feature along with Ramadan installment postponement feature. You must determine the type of delay.
* Terms and conditions apply
** Annual percentage rate starts from 3.30% for the financing of five years.
The management fee of 1% of the amount of funding and no more than 5,000 Saudi Riyals
For further information, please contact the banking and sales marketing phone 8002441005