Yes, this is a Shariah compliant finance product approved by SAIB’s Shariah Committee.

• For Non-Saudi Residents
• The customer must open a Salary Account with Saudi Investment Bank.
• Work for an employer which is included in the bank’s approved list.
• Have a basic salary of at least SAR 12,000 per month.
• Minimum age requirement is 23 years old.
• Maximum age requirement at maturity of the finance is 60 years for males and females.
• Debt Burden Ratio (DBR) should not exceed 33% of the salary
• Applications are not accepted unless making sure that the last 3 salaries have been credited to the customer’s account at one of the local banks.
• First salary must be credited into customer’s SAIB account, before providing the finance amount to the customer.
• The customer’s employer classification in the ministry of labor in “Nitaqat” program must be in green color or above.

SAIB guarantees disbursement of the finance amount on the same day (subject to complete documentation).

Minimum finance amount is SAR 50,000

Maximum finance amount is SAR 200,000.

Our profit rate is highly competitive and is fixed for the entire tenor of the Murabaha finance. For our current profit rates or to enquire about special promotions, please call our Flexx Call contact center at 800 124 8000.

You automatically qualify for a host of free benefits:

• Sharia compliant, Salary Account with no minimum balance requirement
• mada Debit Card from The Saudi Investment Bank
• Access to re-financing products.
• Debt relief in case of death or permanent disability (God forbids).
• WOOW reward points

Yes we can buy-out your existing debt.

• Valid Iqama
• Introduction letter from employer, which would typically include the basic salary, allowances, date of joining, End of Service amount and the introduction letter’s date (must be ensured that the guarantor’s name in “Iqama” is consistent), the customer must be on the same sponsorship which issued the introduction letter.
• Official salary assignment letter in favor of SAIB, which includes all financial allowances, End of Service amount, salary account number and date of salary transfer, job classification in the Ministry of labor (MOL) in “Nitaqat” program (stamp and signature consistent with the bank’s record).
• A valid Release Letter from the previous bank. (Making sure that the issue date of the transfer letter is aligned with the validity of the release letter).
• Account statement for the past 3 months showing past 3 salaries stamped from the previous bank.

Please contact our Flexx Call contact center at 800 124 8000 or visit any of our branches.