Preferred Rate Personal Finance Offer Last update 15-04-2021
The ability of getting new personal finance for new customer after 1 or 2 salary deposit with a discounted annual percentage rate
- Discounted annual percentage rate starts from 3.75%
- Shariah compliant
- Instant approval
- Repayment periods up to 60 months
- Possibility of postponing the installment of the month of Ramadan.
- Insurance coverage in case of death or total disability (God forbid) as per insurance policy terms and conditions
Terms and Conditions
|Nationality||Saudis & Non-Saudis.|
|PF Type||New personal finance only.|
|Eligible customers ||New payroll with a maximum of 2 salary deposits.|
|Sectors||Government sector or Private sector inducted companies who transfers their employee's salary through Sharia system through al AlAhli bank.|
|Minimum Salary||SAR 3,000 Saudis & SAR 4,000 Non-Saudis.|
|Months on Job|
1 month for Saudis in Government sector.
3 months for Saudis in the big 5 and non-Saudis in the government sectors and big private companies.
1 year for Saudis & Non-Saudis in Private sector.
|Finance amount ||5,000 SAR up to 1,500,000 SAR|
|Minimum Age||18 years for Saudis & 22 years for Non-Saudis and must be less than 60 years at the date of last installment.|
Offer period: From 1 January until 31 December 2021
Terms and conditions
Administrative fees 0% of finance amount or SAR
5,000 (whichever is less).
VAT 0% of
Administrative fees are included in Annual
|Finance Amount||Maturity in Years||*APR||Monthly Payment Amount|
|100,000 SAR||5 Years||3.17%||1,767 SAR|
|200,000 SAR||5 Years||2.98%||3,517 SAR|
|350,000 SAR||5 Years||2.78%||6,125 SAR|
The above table is for example purposes as APR may differ depending on the finance amount, salary amount, employer and maturity period and subject to credit scoring of each customer.
For more information, please contact SNB Customer Service (Sales Unit) in Phone Banking on 8002441005