|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|SABB - Personal Finance||Minimum Salary: SAR 3,000||Salary Transfer: Yes||Islamic Finance: Yes||Maximum Term: 5 Years||Flat Rate: 3.79%||Reducing Rate: 3.2%|
Whatever your financial needs are, SABB has the right solution for you.
Whether you would like to, buy your dream house or refurbish your home, get married or plan a family vacation, enroll your loved ones in schools and universities, buy a new car, or have any other financial requirement, SABB provides Shariah-compliant Personal Finance to help you fulfil your ambitions and achieve your dreams, with attractive features and competitive rates.
SABB Personal Finance is presenting you the chance to chase your goals with an Annual Percentage Rate (APR) of 3.79% only. This offer is valid from 9 April 2017 until 31 May 2017. Terms and conditions apply.
- Fully Shariah-compliant financing solution
- Instant approval and you can get your finance within 24 hours, if you have provided all required documentation
- Financing of up to SAR 1,500,000
- Waiver of the outstanding finance amount in the event of death or permanent disability (God Forbid)
- Repayment period of up to 5 years (60 months)
- Competitive profit rates
- Option to pay off existing debts with other banks (Switch Program)
- Additional personal finance (top up) is possible after paying off a minimum of 20% from you current finance's principle amount
- Copy of ID (Saudi nationals), or passport copy (GCC nationals and expatriates) with 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)
- The applicant must be at least 21 years of age and at most 58 years of year for government employees or 60 years for private sector employees
- The applicant must earn a minimum salary of SAR 3,000 (Saudi nationals) and a minimum salary of SAR 4,000 (non-Saudis)
- The applicant must have been employed for at least 1 month (Saudi nationals), or 3 months (non-Saudis) in his or her current job
** Calculator Definitions
Amount: The total amount of money borrowed, also referred to as the principal amount.
Rate (%): This is the annual interest flat rate on the product. This is not the 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 on the product plus fees and other costs. The APR is useful when comparing two or more products with different interest rates and fee structures.