FAQs

This is an Islamic financing product approved by the Bank’s Shariah Board.

SAIB guarantees disbursal (subject to complete documentation) within one business day.

SAR 50,000.

The profit rate you pay is fixed for the entire tenor of the Murabaha facility. For our current profit rate, or to enquire of special promotions, please call our Allo Banking toll free centre on 800 124 8000.

• You do not need any collateral or guarantors.
• You also own the vehicle. 

• Complete set of SAIB application forms.
• Quotation (3 copies), for car value, from approved dealers addressed to the Bank.
• Introduction letter from your employer which would include salary and allowance details and the date of employment commencement.
• Salary assignment letter in favor of SAIB.
• Valid identity card.
• Acknowledgment form signed upon receipt of the car.

  Kindly note that Saudi Armed Forces personnel may need to provide additional documentation. Please contact us for more details.

   

Please click on the “Apply” button on this page and submit your contact details. Our representative will call you to complete formalities within 2 business days. You can also call our Allo Banking toll-free number on 800 124 8000 or visit any of our Branches.

We can finance you up to a maximum of SAR 1,000,000.

Yes. The SAIB ASALAH Home finance product is Sharia’a compliant and has been designed on the basis of Islamic principles.

To apply for this facility you need to meet the following eligibility criteria:

• Be a Saudi Citizen.
• Be at least 20 years of age.
• Maximum age (as at maturity of the facility) of 60.
• Work for an employer included in the Bank’s pre-approved list.
• Have a salary of at least SAR 5,000 per month.
• Incase of Joint finance, the combined income of the borrower & co-borrower should be at least SAR 10,000.
• Transfer salary, supported by a salary assignment letter from your employer, to your account with SAIB.
• Incase of joint finance, both borrower and co-borrower must have a Salary Account with us.
• Have a minimum length of service period with your current employer of at least 3 months.

You would need to make an immediate repayment of the principle outstanding amount and we may offer you a discount on the outstanding profit.

Your total monthly outflows or payments (including the property financing installments) should not exceed 50 percent of your total monthly income.

You can avail financing up to a maximum limit of SR 3,000,000.

SR 300,000.

We provide home financing for the purchase of Lands as well as ready property (Villas) not more than 10 years old and not less than 300 sq. mtrs in size.

We can provide financing with tenors up to 25 years.

Yes, you may repay your financing early. As this is a Sharia'a compliant product, you do not have to pay penalty charges for prepayment and we can offer you a discount on the outstanding profit .

No, as part of our extra benefits, we provide Free "Property Takaful", as well as a Free "Family Protection Plan".

• Finance application form
• Introduction letter from your employer.
• Salary assignment letter in favor of the Bank.
• Copy of a valid identity document (to be taken after sighting the original).

Two persons can jointly avail the facility if both persons assign their salary to an account with SAIB.

• SAIB guarantees in-principle approval within one business day (subject to complete documentation).
• Final approval within 12 business days (subject to complete documentation).

Please click on the “Apply” button on this page and submit your contact details. Our representative will call you to complete formalities within 2 business days.
You can also call our Allo Banking toll-free number on 800 124 8000 or visit any of our Branches.