Short-Term Personal Financing LAST UPDATE 5 MAR 2023
Personal Short-Term Financing provides finance to covers your current needs up to 12 months
Features:
- 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:
| Nationality | Saudis only. |
| Sectors | Government sector and 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
|
| Minimum Finance amount | 5,000 SAR up to 2,500,000 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 fee is 1% of the amount of financing or (5,000 SAR) whichever is lower
| Finance Amount | Maturity in Years | *APR | Monthly Payment Amount |
| 20,000 SAR | 6 Months
| 8.28%
| 3,333 SAR |
| 50,000 SAR | 9 Months | 7.45% | 5,593 SAR |
| 100,000 SAR | 1 Year | 6.31% | 8,416 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
