Minimum Salary Salary Transfer Islamic Finance Maximum Term Flat Rate Reducing Rate
The Saudi Investment Bank - Shares Murabaha Finance The Saudi Investment Bank - Shares Murabaha Finance Minimum Salary: SAR 5,000 Salary Transfer: Yes Islamic Finance: Yes Maximum Term: 6 Years Flat Rate: 0.0% Reducing Rate: 0.0%
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Shares Murabaha Finance is an Islamic financing product approved by SAIB's Shariah committee. You buy a certain quantity of local shares owned by the Bank at an agreed upon profit and repayment plan. You then have the option to sell or retain the shares for trading.
  • 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
  • Filled finance application form
  • Copy of a valid national ID card (For Saudis) or a valid Iqama (For expats)
  • Introduction letter from employer
  • Salary certificate from employer or last salary slip
  • Copy of employee ID card specifying rank/position (for armed forces, if applicable)
  • Account statement of 3 months, showing last 3 salaries and verified by the bank
  • Saudi nationals or expats
  • Minimum age when applying:
  • 18 years for Saudi nationals
  • 38 years for retirees
  • 23 years for expats
  • Maximum age at the time of finance maturity:
  • 60 years for males and females
  • 65 years for retirees
  • Minimum salary per month is:
  • Basic salary: SAR 5,000 for employed
  • Gross salary: SAR 6,500 for military sector individuals
  • Gross salary: SAR 10,000 for expats
  • SAR 4,000 for retirees
  • Debt Burden Ratio shall not exceed one-third of the gross monthly salary (33%)
  • Employment:
  • Employees of government, semi-government, military and private sectors (Bank’s approved list of companies)
  • Service period:
  • For Saudis:
  • For Government Sector: 1 months with current employer
  • For Private Sector: 3 months with current employer
  • For expats: Minimum service period with current employer is 1 year
Additional Information
*In case all applicant documents are complete *For Military personnel, maximum age would depend on rank / position held and minimum gross salary is SAR 6,500 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
  • The SAIB Murabaha Personal Finance comes with a complementary salary account with no minimum balance requirements. The account also offers 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