With Easy Cash service, you can transfer up to 30% of your Credit Card limit to your current account by contacting our call center at 8001000102, and pay it back in monthly installments (up to 18 months) with Competitive profit rate and admin fee
Features & Benefits
Up to 30% of the credit card limit
Up to 0.99% Profit Rate
Instant cash credited to your current account
Equal monthly installments (3, 6, 9, 12, and 18 months)
Terms and Conditions
The terms and conditions below are complementary to the Credit Card Agreement that is accepted and agreed to by the Cardholder:
- Easy Cash service is a transaction initiated by the cardholder via application form, the Bank’s online channels, or via the contact center, in which the Cardholder agrees to repay SAIB in equal monthly installments.
- Customer is allowed to transfer up to 30% of the Credit Card limit to the current account.
- If the Easy Cash amount to be transferred exceeds the eligibility criteria on the date of acceptance by SAIB, SAIB will automatically transfer only an amount equal to eligibility criteria of Credit Cardholder’s available credit limit as well as cash limit as authorized by Credit Cardholder in the application form, recorded call, or online channels.
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EPP terms and conditions mentioned in the Credit Card Agreement apply on all Easy Cash transactions
How to Apply
Call us at 8001000102 and make sure you prepare the below information within hand reach:
- The account number of your Current or Savings account that you want to transfer your balance to.
- The amount you would like to pay
- Tenor to pay
Easy Cash Example
Customer requests to transfer 30% of the Credit limit to the current account (assuming that the customer had not made any cash withdrawals and is eligible for a total of 30% of his credit limit)
| Easy Cash amount | SAR 3,000 |
| Administration Fees | 1% (SAR 30) |
| Tenor | 3 months |
| Profit Rate | 0.99% |
| Profit Amount: | (3,000 * 0.99%) * 3 = 89.1 |
| Monthly installments: | (3,000 + 89.1) / 3 = 1029.7 |
Fees
Easy Cash is a service provided to credit cardholders with the following fees:
| Product | Tenor (Months) | Administration Fees | Profit Rate |
|---|---|---|---|
| Easy Cash (installments) | 3 | 0.99%* | 1% |
| 6 | 0.99%* | 1% | |
| 9 | 0.89%* | 1% | |
| 12 | 0.89%* | 1% | |
| 18 | 0.79%* | 2% |
FAQs
What is Easy Cash service?
Easy Cash allows you to transfer up to 30% of your Credit Card limit to your current account via our e-services and pay it back in monthly installments (up to 18 months) with a competitive profit rate.
Who can request Easy Cash service?
Easy Cash is available for all Primary SAIB Credit Cardholders based on their available cash limit.
What is the maximum Easy Cash amount that I can avail?
You can avail a maximum of 30% of your available Credit limit. The amount varies based on your available Cash limit.
How do I pay back "Easy Cash"?
Easy Cash is paid in monthly installments up to 18 months.
