Samba Personal Loan - For Expatriates with Assignment of End-of-Service Benefits (EOSB)
|Minimum Salary needed||SR 2,500|
|Maximum amount available||SR 750,000|
|Length of Loan||5 years|
|Profit Rate||Applicable Flat Rate starts from 1.45% and Applicable Annual Mark-up Rate starts from 2.79%|
|Upfront Fees ( if any )||Management fees should not exceed 1% of finance amount or SR 5,000 whichever is less|
|Eligibility||You should be at least 21 years of age; You should be employed for at least one year; You should be working with a Samba-approved employer|
|Main Features||Approved by the Shariah Supervisory Board; Finance based on Tawarouq by the purchase and sale of local commodities; Simple documentation; Fixed profit rate for the entire finance period. Your profit rate will not change during the entire finance period; akaful Insurance – In case of death or permanent total medical disability, God forbid, all outstanding amounts will be considered paid subject to terms and conditions of insurance policy; No guarantor required; Samba Credit Card without annual fees for the entire finance period; Opportunity to top up your Al Khair finance for extra cash;|
Samba Financial Group
Samba Financial Group is among the largest and most successful financial services groups in the Middle East. The bank has a solid reputation for world-class financial solutions matching the very best in the world.
Since it was born, Samba Group has been leading the industry in innovation with a long list of pioneering moves and solutions in the industry. This has in turn played a key role in the modern transformation of the banking industry in Saudi Arabia.
Indeed, Samba’s world-class services, market-leading solutions and superior technology have transformed Samba into one of the most accomplished financial services brand names and the most internationally celebrated bank in Saudi Arabia and the Middle East.
In the western coastline of Saudi Arabia’s Red Sea rests a modern city named Jeddah .It is the principal city in the western region of Saudi Arabia. Jeddah is also the largest city in Makkah Province, the main sea harbor on the Red Sea, and the second largest city in the kingdom of Saudi Arabia.
Jeddah has a ballooning population of 5.1 million people. The city is a fine commercial center in Saudi Arabia in a similar context with Riyadh and Dammam, that is, in terms of function, economy and regional significance.
Jeddah’s economic focus is on harnessing and refining capital investment in scientific and engineering leadership throughout Saudi Arabia, and the Middle East.
Our personal finance is tailored to stand with your financial goals and dreams from the day of conception until they are safely birthed into the land of realization.
Beautiful features and benefits:
- Enjoy instant approval over the phone;
- Repayment period of up to 5 years;
- Fixed profit rate for the entire finance period;
- Takaful Insurance cover – just in case of death or permanent disability all outstanding amounts will be waivered as per the terms and conditions of the insurance policy; and
- Financing amount of up to SAR 750,000.
Eligibility and requirements:
- Applicants should be at least 21 years of age;
- A monthly salary of at least SR 2,500; and
- Applicants should have been employed for at least 1 year.