Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
The Saudi Investment Bank - Arzaq Murabaha Finance The Saudi Investment Bank - Arzaq Murabaha Finance Minimum Salary: SAR 5,000 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 5 Years Flat Rate: 0.0% Reducing Rate: 0.0%
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Arzaq Murabaha Finance is an Islamic financing product approved by SAIB's Shariah Committee. You can buy a certain quantity of goods owned by the Bank at an agreed profit and repayment plan. You can take possession of the goods, and if you choose not to, we have made it easier to sell the goods on your behalf by signing a procuration (WAKALA) to the merchant. Proceeds will be credited into your account. The goods offered by SAIB include rice and flour.

The features you need to know:
Compatible with the provisions of Islamic Shariah
Approved by the Bank's Shariah Committee.

Customer can refinance after paying the required financing amount .

Additional Finance
Eligibility for an additional finance after having an increase in monthly salary.

Debt Relief
Debt relief in case of death or permanent disability (God forbids).

No Sponsor/ Guarantor required.

Financing Amount Disbursement
Get the finance on the same day*
*In case all applicant documents are complete

*In case all applicant documents are complete
  • Compatible with the provisions of Islamic Shariah
  • Customer can refinance after paying the required rate
  • Additional Finance
  • Debt Relief
  • No Sponsor/ Guarantor required
  • Get the finance on the same day*
Documents Required
  • Complete SAIB required application form.
  • Introduction letter from employer which would include basic salary, allowance details and the date of employment commencement.
  • Salary assignment letter in favor of SAIB.
  • We can also buy-out your facilities from other banks. The following additional documents are required: Debt letter from existing bank / institution with which you currently have a loan
  • A copy of a valid ID card. We will certify the authenticity of the copy to the original one.
  • Be a Saudi Citizen
  • Be at least 18 years of age
  • Maximum age at maturity of 60 for males and females
  • Work for an employer included in the Bank’s approved list
  • Have a basic salary of at least SAR 5,000 per month*
  • The customer must have a salary account at The Saudi Investment Bank
Additional Information
*In case all applicant documents are complete
*For Military personnel, maximum age would depend on rank / position held and minimum gross salary 6,500.
*Terms and conditions apply
Charges & Minimum Required Balance:
  • Standard SAIB loan administration fees will apply. Administrative fee not exceeding 1% of the amount of funding or SAR 5,000, whichever is less.
  • Wakalah fees which is equal to SAR 500.
  • Arzaq Personal Finance facility comes with a complementary salary account with no minimum balance requirements. The account also offers a free cheque-book, mada Debit Card from The Saudi Investment Bank and access to SAIB Flexx Click Internet Banking, Flexx Call contact center and SMS Banking facilities.
** 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