Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
SABB - Personal Finance for retirees SABB - Personal Finance for retirees Minimum Salary: SAR 3,000 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 2.73% Reducing Rate: 4.91%
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SABB understands that its customers continue to pursue their dreams and aspirations even after they retire. Therefore, SABB offers Shariah-compliant Personal Finance for Retirees under the concepts of “Tawarruq” and “Murabaha” to help retirees realise their wishes and goals.
  • Fully Shariah-compliant financing solution
  • Financing from SAR 10,000 up to SAR 500,000
  • Flexible repayment period from 12 up to 60 months
  • No guarantor require
  • Waiver of the outstanding finance amount in the event of death or permanent disability (God forbid)
Documents Required
  • Copy of ID (Saudi nationals)/ Passport copy (GCC nationals and expatriates)/ Iqama valid for a minimum of one month (expatriates)
  • A Salary Introduction Letter that is less than one month old
  • Salary Assignment Letter (signed by an authorised signatory)
  • Customer must be between 40 and 65 years of age
  • Minimum monthly pension of SAR 3,000
Additional Information


  • Early settlement fee is the next three months profit based on payment schedule.
 Property Market Value Fixed or Variable Rate APR Maturity in YearsPayment Type Monthly Repayment Amount*  Early Payment Charges
 100,000 Fixed 3.150% 5 Years Principal and Interest / Profit 1,782.55 Profit of future 3 installments

 *APR & Monthly repayment amount may differ depending on the amount and the maturity period and the prevailing bank rate

** 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