Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
National Commercial Bank - Personal Loan by Local Commodities National Commercial Bank - Personal Loan by Local Commodities Minimum Salary: SAR 3,000 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 3.3% Reducing Rate: 5.94%
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NCB selects rice as local commodities that is traded daily on the Saudi Market. This makes it easy for customers to resell what they have already bought with a small difference between the price of purchase from the bank & the price of selling to the market.  
  • Sharia Compliance
  • Instant Approval
  • Payment programs with easy installments for up to 5 years
  • Possible Top-up financing
  • Deferred installments during the holy month of Ramadan
  • Insurance in case of death or disability
  • Repayment period up to 60 months
Documents Required
  • Completed Application Form
  • A copy of your ID card or Iqama
  • A letter from your employer that includes: job type, date of employment and monthly income
Additional Information
Terms and Conditions apply Annual profit rate starts from 2.92% for a 5 year term Admin fees at 1% of the finance amount, maximum of SAR 5,000​​
** 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