| Minimum Salary | Salary Transfer | Islamic Finance | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Samba - Personal Finance For GOSI & PPA Retirees
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Minimum Salary: SAR 2,000 | Salary Transfer: Yes | Islamic Finance: Yes | Maximum Term: 5 Years | Flat Rate: - | Reducing Rate: - |
Open new horizons after retirement with a special Samba personal finance package for GOSI and PPA pensioners. Now that you are retired, you have more time to achieve even more of your dreams, like starting your own business, expanding your home and pursuing your other lifetime goals. With Samba Personal Finance for GOSI pensioners, now retirement means opening a whole new world of possibilities.
Features
- Approved by the Shariah Supervisory Board
- Instant approval over the phone
- Finance amount up to SR 500,000
- Repayment period of up to 60 months
- Fixed profit rate for the entire finance period
- Takaful Insurance - In case of death or permanent total medical disability, God forbid, all outstanding amounts will be
- considered paid subject to terms and conditions of insurance policy
- Samba Credit Card without annual fees for the entire finance period*
- Opportunity to top up your Al Khair finance for extra cash
Documents Required
- Application form
- A photocopy of a valid ID
- Certificate from GOSI/PPA stating your income
- Salary transfer letter from the GOSI/PPA
Eligibility
- You should be at least 40 years of age
- Your monthly income should be at least SR 2,000
- You should be under the GOSI or PPA pension program
Additional Information
*Terms and Conditions apply
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
