The Saudi British Bank Personal Loan - for retirees

Minimum Salary needed Minimum monthly pension requirement of SAR 3,000
Maximum amount available SAR 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 Age 40 to 65 years; Salary Assignment Letter, signed by an authorised signatory; banks can provide finance of up to 33% of your monthly salary; you must transfer your salary to a SABB account.
Main Features Fully Shariah-compliant; No guarantor required; Covers the outstanding financing amount in the event of death (God forbid), thereby protecting your family from unforeseen liability