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LOCAL COMMODITIES

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.

Applying Steps

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)