|Minimum Salary||Salary Transfer||Islamic Finance||Maximum Term||Flat Rate||Reducing Rate|
|Saudi Finance Company - Personal Loan||Minimum Salary: SAR 4,000||Salary Transfer: No||Islamic Finance: Yes||Maximum Term: 5 Years||Flat Rate: 9.95%||Reducing Rate: 10.75%|
- Fully Shariah-compliant financing solution
- Financing up to 500,000 SR
- Financing up to 100,000 SR without guarantor
- No salary transfer
- No administrative fees
- The possibility of early termination any time
- Bank statement for the last 3 months.
- Salary certificate.
- Copy of National ID
Conditions for applying for personal finance:
- The work sector: :For retired employees or employees of one of the following sectors (Government sector - semi-government sector - military - banks - private - joint-stock companies):
- The service period should not be less than one month
- Salary not less than 4,000 SR
- Conditions may differ according to the work sector
- This offer is for a limited time
- 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 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.