| Minimum Balance Required | Currencies | Features | |
|---|---|---|---|
Saudi Investment Bank - AlAsalah Current Account
|
Minimum Balance: USD 0 | Currencies: GBP, USD, EUR | Features: Multiple Currencies, Free Cheque Book |
Settlement of bills and payments through SADAD and ability to transfer funds locally and internationally
Feature & Benefits:
Eligibility:
Documents Required:
- Multiple Currencies Available in Saudi Riyals as well as other major currencies approved by SAIB.
- Free cheque-book (Available only for Saudi Riyal Accounts).
- Account Statement, your choice of statement frequency (i.e. monthly, quarterly, half-yearly or yearly).
- Settlement of bills and payments through SADAD and ability to transfer funds locally and internationally.
- Free access to your account through multiple channels : Flexx Click - Internet Banking Flexx Call - Contact Center Flexx Touch – Mobile Banking ATMs Branches
- Age:
- 18 years.
- 15 years for Saudis holding a valid ID card
- Nationality:
- Saudis
- GCC citizens with valid passport, or national identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE), and proof of address in the Kingdom (evidenced by a utility bill, house rental contract, real estate title deed, or a letter from a Saudi citizen attesting to the GCC citizen’s address) along with their home country address
- Non-Saudis (and Non-GCC) holding a valid residency permit (Iqama)
- A filled out SAIB account opening application booklet
- Valid identity document
** 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.
