The Saudi British Bank Personal Loan - Tawarruq Concept – MAL & Murabaha Concept – SAHM

Minimum Salary needed SAR 3,000 (Saudis) / SAR 4,000 (non-Saudis)
Maximum amount available SAR 1,500,000
Length of Loan 5 years
Profit Rate Not mentioned
Upfront Fees ( if any ) Administrative charges is 1% of the finance amount or SAR 5,000/- whichever is less
Eligibility Minimum age: 21; Must have been employed for at least one month in his/her current job; you must transfer your salary to a SABB account; banks can provide finance of up to 33% of your monthly salary;
Main Features The customer may top-up after paying six instalments; The customer may pay off existing debts with other banks (switch programme); Exemption from finance payments in the event of the death or permanent disability of the borrower (God forbid); Fully Shariah-compliant; Instant approval: the customer can receive the finance within 24 hours