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Best Saudi Banks for Personal Loans

personal loans in saudi arabia

The best Saudi banks for personal loans Many people seek to obtain personal loans through some banks that offer these loans with obtaining an adequate additional amount of financing in exchange for the bank receiving a commission on these for-profit loans, and Each bank differs from the other. . The payback period, which can increase or decrease.

Read moreLearn about the 10 most powerful banks in the Arab Gulf.

Best Saudi Banks for Personal Loans

  • SABB Bank, which is one of the Saudi banks that offers soft loans in the required amount, with a minimum salary of 3000 Saudi Riyals without monthly payment and at a rate of 3.12% and a salary transfer, according to Islamic law. Provides retirees with the same benefits and conditions as borrowing.
  • Riyad Bank, which is one of the Saudi banks that offers loans to citizens who comply with Islamic law, in exchange for the bank receiving a commission on those loans. The loan is without salary transfer and with a minimum salary of 3,000 Saudi riyals, at a rate of 1.32%, and the repayment term does not exceed a year and a half, with easy and convenient procedures. The term of the financing is up to 48 months, and the amount of financing offered ranges from 300,000 riyals to 1,500,000 riyals, having to meet all the conditions provided by the bank. Applicant must be an employee with at least 12 months of service, not less than 30 years of age, and have Saudi citizenship.
  • The Saudi Investment Bank is one of the banks that offers loans with a salary of 3000 Saudi Riyals, and the loan offered is 50,000 to 2 million Saudi Riyals for a period of more than 5 years, but there are conditions for the loan. The holder, who is not less than 35 years old and not older than 65, with the details of the loan, the reasons and guarantees of him.
  • Alawwal Bank, which is one of the banks that offers compatibility in its dealings with Islamic Sharia and provides personal finance to citizens. This additional financing after the repayment rate is 20%. The financing at Alawwal Bank is approximately 1,500,000 Saudi Riyals, the repayment period is up to 5 years, and the minimum wage is 3,000 Saudi Riyals for the government sector. It reaches 5,000 riyals for the private sector and 3,000 riyals for retirees, and the payment of the first six installments can be postponed, and the banks obtain other benefits than the others.
  • Saudi Fransi Bank, one of the Saudi banks that offers personal finance with a minimum wage equivalent to 3,000 Saudi Riyals, with an estimated rate of 1.69%. After payment of 15% with structured and uncomplicated procedures and ensuring the completion of the service with the highest level of efficiency.

Read morePersonal Finance Companies in Saudi Arabia.

The lowest percentage of Saudi banks in real estate financing

One of the lowest Saudi banks in personal finance and the lowest interest in real estate finance with long and comfortable payback periods.

  • Al Rajhi Bank: It is the bank that provides real estate financing service at the lowest interest rate with comfortable and long repayment terms with the best forms of payment. Under Islamic Sharia, Al Rajhi Bank requires the loan holder's salary to be at least SAR 2500 with a personal finance ratio equal to 3.12%.
  • The National Commercial Bank: It is one of the Saudi banks that works to provide all the necessary loans for real estate financing at the lowest rate, with comfortable repayment terms and on easy and convenient terms. The National Commercial Bank requires that the holder of the loan be a Saudi citizen, the salary is not less than 3000 Saudi Riyals and the age of him is less than sixty years, with the completion of the bank form.
  • Alinma Bank: It is one of the lowest banks in personal finances, either with salary transfer or financing without salary transfer, the possibility of financing projects, construction and repair of houses, and the possibility that the resident obtains the loan without endorsement, with the heirs they do not repay the loan upon the death of the client. Alinma Bank also offers real estate loans with ease. It is easy and there are no complicated conditions that make the client not think about going to the bank again when resorting to loans.