Finance Transfer Program Flexible Installment

Obtain a balance transfer program with the highest amount of flexible installment financing in line with your internal and external obligations.

Apply now

What is the Balance transfer program with the flexible installment feature

Obtain a balance transfer program with the highest amount of flexible installment financing in line with your internal and external obligations.

The target customers of this feature are as follows:

All customers with existing obligations with other banks and finance companies (in addition to obligations not mentioned in the non-objection letters).

Product characteristics

It is a feature that allows the customer to obtain the balance transfer program with the highest amount possible by changing the installment amount during the financing period based on the existing credit obligations
The product has a competitive advantage as it does not have competitors and aims to raise the financing amount by taking advantage of the full deduction allowed upon the expiry of the customer-based credit obligations with the repayment of the indebtedness shown in the non-objection letters.

Product Terms and Requirements

Nationality

Saudis and Non-Saudis in (Aramco – KAUST)

Sectors

Government sectors or private sectors from accredited companies that transfer the salaries of their employees to the National Bank through a "Saria" system for salary transfer.

Minimum salary

4,000 Riyals for the government and private sector.
7,000 Riyals for (Air Force - Ground Forces - National Guard)

Minimum Term of Service

3 months for Saudis and residents in the government sector, and mega and distinguished companies.
4 months for private sector and approved companies.

Minimum Funding Amount

SAR 5,000 up to SAR 2,500,000.

Minimum age of client

18 years at the time of submitting the application to the Saudis, provided that the age does not exceed 60 years at the due date of the last installment. Except for pensioners up to 75 years old. and military personnel according to the retirement age of the military rank

Notes

Financing a local good only.
Monthly installment is variable according to the repayment schedule and the benefits of flexible financing
If the financial obligations are paid early, the monthly installment does not change and the installment is approved according to the payment schedule.

Terms and conditions applies

The administrative fee is either 1% of the finance amount or SAR 5,000 whichever is lower.

Finance Amount	Maturity in years	Annual Percentage Rate	Monthly installment amount
100,000 riyals	5 years	3.64%	1,870 Riyals
200,000 riyals	5 years	2.33%	3,619 Riyals
SAR 350,000	5 years	2.14%	6,303 Riyals

The above table is an example, and the annual percentage rate may vary depending on the amount of funding, salary, the employer and the duration of the different funding maturity and may be affected by each customer's own credit history.

For more information, please contact the customer service representatives in the banking phone (sales department) on 8002441005