Key Requirements
to apply for a Murabaha Personal Finance
Murabaha Personal Finance!
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 an agency (WAKALA) to the bank. Proceeds will be credited into your account at the bank.
Investment period
Months
6
Minumum
Months
60
Maximum
Exceptional Investment period
50,000
Minimum
3,000,000
Maximum
Minimum age of 21 years old with a maximum age of 60 at the maturity.
Standard SAIB finance administration fees will apply. Administrative fee not exceeding 1% of the amount of funding or 5,000, whichever is less.
Saudi citizen employed by an entity on SAIB’s approved list.
The customer must have a salary account at The Saudi Investment Bank.
The account offers a free cheque-book, mada Debit Card from SAIB and access to SAIB Flexx Click Internet Banking, Flexx Touch Mobile Banking, Flexx Call contact center and SMS Banking facilities.
Employer’s salary transfer certificate and Account statement of last 3 months (showing last 3 salaries which are verified from the previous bank).
Terms and Conditions
Kindly note that all Arzaq Murabaha Finance facilities are subject to SAIB credit approval and SIMAH (Saudi Credit Bureau) verification.
Service period
For Government Sector: 1 months with current employer
For Private Sector: 3 months with current employer
Product Risk
To view the Personal Finance product risks, click here
Help & Support
For more information and details, please call us at: 800 100 0102.