| Minimum Balance Required | Annual Return | Features | |
|---|---|---|---|
Banque Saudi Fransi - Saving Account
|
Minimum Balance Required: SAR 0 | Annual Return: 0% | Features: Multiple Currencies, Bank Statement, Free Monthly Statements |
With the saving account you can put your money aside and let it grow gradually over a long period of time, while enjoying the flexibility of penalty-free withdrawals.
Features & Benefits:
Documents Required:
- No minimum balance is required to open the account
- Guaranteed rate of return
- Profits are added to the account every 6 months
- Electronic banking (Online, Mobile and Phone)
- Account in Saudi Riyals or foreign currencies
- Quarterly statement of account
- Withdrawals and deposits
- Cheque deposit facility
- SMS notification
- Saudi Citizens
- Saudi National ID
- GCC Citizen
- Passport
- National ID
- Expatriates
- Iqama ID
- Copy of passport
** 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.
