NCB selects rice as local commodities that is traded daily on the Saudi Market. This makes it easy for customers to resell what they have already bought with a small difference between the price of purchase from the bank & the price of selling to the market.
Features and benefits
- Sharia Compliance.
- Instant Approval.
- Payment programs with easy installments for up to 5 years.
- Possible Top-up financing.
- Deferred installments during the holy month of Ramadan.
- Insurance in case of death or disability.
- Repayment period up to 60 months.
Required documents and actions
- Completed Application Form
- A copy of your ID card or Iqama and passport for expats .
- A letter from your employer that includes: job type, date of employment and monthly income.
1. Application Phase
- Provide the required documents.
- Specifying the details of the finance (finance amount, tenure, profit margin, monthly installment).
- Sign the application form.
- Obtain immediate approval.
- Sign the contract .
2. Application execution & Commodity ownership phase
- Firstly you will receive SMS approval
- The SMS will contain the name & phone number of the broker
- Then you must decide to either sell or collect your commodities
3. Call the broker:
- Call the broker using the number supplied.
- Use your 8 digit NCB account number and your 4 digit pin number to identify yourself.
- Choose one of the following: Sell the commodity and deposit the proceeds into your account or, collect the Commodity directly from the broker.
For more information please contact a NCB Customer Service Representative on: 8002441005
Terms and conditions applied
Administrative fees: 1% of finance amount or SAR 5,000 (whichever is less)
Administrative fees is included in Annual Percentage Ratio
|Finacne Amount||Maturity in Years||APR||Monthly Payment Amount|
|100,000 SAR||5 Years||3.79%||1,829|
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, profit rate, and loan tenor)