Salary Account

Salary Account

Salary Account

The features you need to know:

Saudi Riyals

Available in Saudi Riyals only.

Free cheque-book

Free cheque-book (Available only for Saudi Riyal Accounts).

Account Statement

Your choice of statement frequency (i.e. monthly, quarterly, half-yearly or yearly).

Settlement of bills and payments

Settlement of bills and payments through SADAD and ability to transfer funds locally and internationally.

Free access to your account through multiple channels :

Following requirements need to be fulfilled to open an account:

Eligibility Criteria 

  • Age:
    • 18 years.
    • 15 years for Saudis holding a valid ID card.
  • Nationality:
    • Saudis.
    • GCC citizens with valid passport, or national identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE), and proof of address in the Kingdom (evidenced by a utility bill, house rental contract, real estate title deed, or a letter from a Saudi citizen attesting to the GCC citizen’s address) along with their home country address.
    • Non-Saudis (and Non-GCC) holding a valid residency permit (Iqama).

Documentation 

  • A filled out SAIB account opening application
  • Valid identity document

charges and minimum required balance 

No minimum balance requirements or fall below fee is charged.

No minimum deposit required to open the account.

Terms & Conditions  

Click here to view the account opening terms and conditions

Service Standards 

  • The entire process of opening an account takes no more than 25 minutes at any of SAIB Branches
  • Your mada Debit Card, PIN and account identification card are issued immediately
  • Cheque book is issued within 2-3 business days
FAQs

What is the Salary Account?

It is a Sharia compliant current account specially designed to meet the requirements of individual customers transferring salary to SAIB.

What are the benefits of the salary account?

  • Free Cheque Book.
  • Free mada Debit Card for ATM cash withdrawals and Point of Sale (PoS) transactions.
  • Free Supplementary mada Debit Card from The Saudi Investment Bank for a family member.
  • Choice of account statement frequency - you can choose either a monthly, quarterly, or half-yearly frequency.
  • No minimum balance requirement or fall below fee.

Do I get any additional benefits?

The account also facilitates:

  • Settling bills and payments through SADAD
  • Transferring money within the Kingdom or abroad, through payment instructions or standing orders.
  • Earn WooW points on the average balance in your account each month

How do I access my account?

The account can be accessed via

  • Flexx Click–Internet Banking
  • ATM services
  • Flexx Call – Contact Center
  • Any SAIB branch
  • Flexx Touch – Mobile Banking

To whom it is offered?

  • Saudi nationals who are at least 15 years old and hold a valid ID card.
  • GCC citizens who are at least 18 years old, hold a valid passport, and provide a proof of address in the Kingdom.
  • Non – Saudi nationals who are at least 18 years and hold a valid residency permit (Iqama).

How much do I need to open a Salary account?

No minimum deposit is required to open a Salary Account.

What are the required documents to open a Salary account with SAIB?

  • A filled out account opening application booklet.
  • Copy of a valid national ID document.
  • Salary assignment letter from your employer.
  • For expatriates, a letter of introduction from the sponsor is also required.

How do I apply?

Please click here to submit your contact details. Our representative will call you shortly. You can also contact our Flexx Call contact center at 800 124 8000 or visit any of our branches.