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FINANCE TRANSFER PROGRAM

You can now get a personal finance from NCB through the debt Transfer Program from other banks at a competitive annual price rate and without admin fees until 30 September 2020 by visiting the nearest NCB Branch or by calling phone banking 8002441005

Customer Benefits:

  • Interest Rate 1.5% with an APR of 3.13% until end of 30 September 2020
  • Cash liquidity
  • Availing NCB services and products
  • Process to be executed in record timing
  • Free insurance coverage in case of death or total disability (God forbid) as per insurance policy terms and conditions.
  • Shariah-compliant program
  • Instant approval

Terms and Conditions:

  • The customer must be on the job in any government, big or known company
  • The maximum age for customers is 50 years for employees and 70 years for retirees
  • Minimum salary amount SAR10,000 Except education SAR 8,000
  • Minimum finance amount: SAR 5,000
  • Maximum finance amount: SAR 1,500,000

Required Documents & Procedures:

  • Recent no-objection letter of no less than 10 days to transfer the finance (including finance amount and other bank's IBAN number)
  • Salary certificate from the company.

Bank statement from the other bank including:

  1. 3-month statement on the bank's letterhead including last 3 salaries
  2. Other bank's stamp on all statement pages
  3. Statement pages must be numbered in order

Terms and conditions applied

Without Administrative fees: which includes 1% of finance amount or SAR 5,000 (whichever is less) until 30 September 2020

Finance AmountMaturity in Years*APRMonthly Payment Amount
100,000 SAR5 Years3.13 %1,792 SAR
150,000 SAR5 Years3.13 %2,688 SAR
300,000 SAR5 Years3.13 %5,375 SAR


* Note: Monthly Payments will be deferred for 2 months as per the features of Balance Transfer Program.

The table above and its numbers is an illustrative example only to show the annual percentage rate, which is dependent on three variables (Finance amount, annual percentage rate, and loan tenor)