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Bank employee financing product without salary transfer
The program targeted Saudi banks employees they are working at approved banks and they are interested to obtain personal finance with a competitive profit margin without salary transfer.
Benefits and Features
- Financing without salary transfer
- Competitive profit rate
- The minimum financing amount is 10,000 and the maximum 1 million Saudi riyals.
- for Saudi customers only
- the period of service in the current job (the bank) should not be less then 1 year.
- the entity should be approved to ARB.
- the financing period is up to 5 years (60 months).
- The age of the customer shall not be less than 18 years and not more than 55 years.
- The minimum total income of the client (8,000 Saudi riyals
Requirement
- GOSI certificate.
- Salary certificate should include the length of services and certified by the chamber of commerce
- Certificate of statement of terms and wages
- A bank statement for the last three months includes last three salaries.
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Salary Range | Duration | Finance Amount | APR | Monthly installment | |
---|---|---|---|---|---|
Example 1 | 8,000 - 14,999 | 5 years | 55,000 | 6.77% | 1,066 |
Example 2 | 15,000 - 24,999 | 5 years | 80,000 | 6.30% | 1,533 |
Example 3 | ≥ 25,000 | 5 years | 150,000 | 5.82% | 2,844 |
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