SHORT-TERM PERSONAL FINANCING last update: 01-04-2021
Personal Short-Term Financing provides finance to covers your current needs up to 12 months
- 0% interest and 0% annual percentage rate for finance maturity for 6 months or less tenure.
- Shariah compliant.
- Instant approval.
- Repayment periods from 3 months up to 12 months.
- Possibility of early settlement.
- 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:
Private sector inducted and non inducted companies
Big Private companies.
|Minimum Salary||SAR 3,000 Saudis & SAR 4,000 Non-Saudis.|
|Minimum 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.
|Minimum 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, except for retirees 75 years.|
Terms and conditions applied.
Administrative fees 1% of finance amount or SAR 5,000 (whichever is less).
VAT 15% of Administrative Fees.
Administrative fees are included in Annual Percentage Rate.
Maturity in Years
Monthly Payment Amount
|20,000 SAR||6 Months||7.15%||3,333 SAR|
|50,000 SAR||9 Months||6.85%||5,597 SAR|
|100,000 SAR||1 Year||5.71%||8,333 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