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Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
Samba - Al-Khair Finance For Saudi Nationals Samba - Al-Khair Finance For Saudi Nationals Minimum Salary: SAR 2,500 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 1.88% Reducing Rate: 3.38%
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Whatever you desire, whatever your growing needs, you can make them come true with Islamic personal finance products designed to make it easier to upgrade your lifestyle and fulfill lifetime goals. Just transfer your salary to us. No guarantor required. No complicated paperwork. And you can get extra cash up to several times your monthly salary, payable in easy monthly installments commensurate with your monthly income.
Features
  • Approved by the Shariah Supervisory Board
  • Instant approval over the phone
  • Finance amount up to SR 1,500,000
  • Repayment period of up to 60 months
  • Fixed profit rate for the entire finance period
  • Takaful Insurance - In case of death or permanent total medical disability, God forbid, all outstanding amounts will be considered paid subject to terms and conditions of insurance policy
  • No guarantor required
  • Samba Credit Card without annual fees for the entire finance period*
  • Opportunity to top up your Al-Khair finance for extra cash
Documents Required
  • Application form
  • A clear photocopy of a valid ID
  • Certificate of employment stating job title, joining date, monthly income and allowances, if any
  • Salary transfer letter from the employer.
Additional Information
Eligibility: Saudi Nationals working with government and semi-government employers
  • You should be at least 18 years of age
  • Your monthly income should be at least SR 2,500
  • You should be employed for at least one month
Saudi Nationals working with private sector employers
  • You should be at least 21 years of age.
  • Your monthly income should be at least SR 3,500
  • You should be employed for at least 4 months
*Terms and Conditions apply
** 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.
Representative Example Calculator
SABB - Personal Finance
Minimum Salary
SAR 3000
Flat Rate
3.79%
National Commercial Bank - Personal Finance
Minimum Salary
SAR 3000
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3.3%
Emirates NBD - Islamic-Non-Salary Transfer Financing
Minimum Salary
SAR 15000
Flat Rate
4.84%
Samba - Personal Finance For Expatriates
Minimum Salary
SAR 2500
Flat Rate
2.22%