Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
National Commercial Bank - Extended Finance National Commercial Bank - Extended Finance Minimum Salary: SAR 6,250 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 3.3% Reducing Rate: 5.94%
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Is a personal finance program compatible with the provisions of Islamic Sharia that gives customers who are about to retire bigger amount of finance with repayment duration up to five years beyond the retirement age.  
  • Bigger amount of finance
  • Financing period extends beyond the retirement age (total duration of finance up to 5 years)
  • Competitive annual profit rate
  • Access to cash within 15 minutes
  • The program includes New and Top-Up Finance
  • Compatible with the provisions of Islamic Sharia
  • Exempting heirs of entitlements in the event of death or total disability (God forbid)
Documents Required
  • National Identity Card must be provided.
  • Letter of Identification from the employer that includes payroll and job information and joining date
  • Applicant must be a Saudi national
  • Applicant must be at the age of a minimum of 40 years and a maximum of 59 years
  • The remaining period to reach the retirement age must be less than five years
  • The minimum salary is SR 6250
  • The deposit of salary must be continued after retirement in the customer’s account in the National Commercial Bank
  • Applicant must be a governmental sector employee
Additional Information
*Terms and Conditions apply.  **Annual profit rate starts from 2.92% for a 5 year term The management fee of 1% of the amount of funding and no more than 5,000 Saudi Riyals
** 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.
Representative Example Calculator
Riyad Bank - Tawarruq
Minimum Salary
SAR 3000
Flat Rate