Search Personal Loans

Reset
Advertisement

8,000

1,500,000

from 2.7%

from 1.49%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Shariah Compliant; Local commodities for Murabaha transaction; Financing up to SAR 1.5 Million; Repayments over five years. New finance after 15% repayment of existing finance; In case of death (God forbidden); customer will be exempted from remaining payments; Balance transfer from other banks

3,000

1,500,000

from 2.7%

from 1.49%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Shariah Compliant; Local commodities for Murabaha transaction; Financing up to SAR 1.5 Million; Repayments over five years. New finance after 15% repayment of existing finance; In case of death (God forbidden); customer will be exempted from remaining payments; Balance transfer from other banks

2,500

1,500,000

N/A

N/A


  • Features
  • Main Benefit
    Finance amount up to SR 1500000; Repayment period of up to 60 months depending on your current age and retirement age; Fixed profit rate for the entire finance period; Takaful insurance at no additional cost to you. In case of death or total disability the remaining instalments are waived by Samba.

2,500

2,000,000

3.36%

1.85%


  • Features
    • No Arrangement Fee
  • Main Benefit
    No administrative fees; Finance up to SAR 2000000; Financing period up to 5 years

30,000

3,000,000

N/A

N/A


  • Features
    • No Salary Transfer
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Available to Priority Banking Customers; Products include Salary Transfer, Non-Salary Transfer and Self-employed Financing, Finance amounts up to SAR 3 million; Extended Financing Tenors; Dedicated Relationship Manager to handle your application; Free Ipad Mini; Free Infinite Visa Credit Card; Available in Riyadh only

100,000

250,000

N/A

N/A


  • Features
    • No Salary Transfer
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Financing up to SAR 250,000 without collateral; Easy monthly payments from 48 months; Shariah compliant. For Saudi in Riyadh only

3,000

1,000,000

from 4.92%

from 2.71%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Tenor period up to 60 months; Fast Approval; Relief of heirs from remaining due monthly installments of the tenor in case of death; Refinancing; Shariah compliant

3,000

1,000,000

from 4.92%

from 2.71%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Tenor period up to 60 months; Fast Approval; Relief of heirs from remaining due monthly installments of the tenor in case of death; Refinancing; Shariah compliant

3,000

1,000,000

N/A

N/A


  • Features
    • No Salary Transfer
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Designed for Pensioners who seek short term financing to cover emergency expenses; No fees charged on the remaining finance term in case of early settlement.

3,000

1,500,000

3.61%

1.99%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Repayment upto 5 years; Maximum amount upto SAR 1500000; Fully Shariah Compliant

N/A

5,000,000

3.36%

1.85%


  • Features
    • No Salary Transfer
    • No Arrangement Fee
  • Main Benefit
    Max financing is open; Max repayment period of up to 1 year; Flexible repayment option; Available for all employed or self-employed individuals and all nationalities

3,000

1,500,000

from 2.88%

from 1.59%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Shariah-compliant; Possibility of transferring the personal finance from other banks; Takaful insurance covering the finance amount in case of death

3,500

3,000,000

from 2.52%

from 1.39%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Financing of SAR 3,000,000; Monthly installments period up to 60 months (5 years); Possibility of refinance after paying 9 installments of the outstanding finance amount; Possibility to postpone monthly payment; Purchasing existing financing from other banks; Shariah compliant; Available in Riyadh only

7,500

750,000

from 7.24%

from 3.99%


  • Features
    • No Salary Transfer
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Salary transfer not required; Shariah compliant; Monthly installment period up to 48 months (4 years); Available in Riyadh only

2,500

60,000

0%

0%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    No administrative fees; Financing period of up to 12 months; Freedom of choice of school from Alinma’s approved list

1,900

2,000,000

2.63%

1.45%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Finance up to 15 times your salary; Fully Shariaa compliant personal finance; For home renovation; wedding arrangements and child education; Repayment period upto 5 years

3,000

1,500,000

from 2.88%

from 1.59%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Shariah-compliant; Possibility of transferring the personal finance from other banks; Takaful insurance covering the finance amount in case of death

2,000

1,500,000

1.81%

1.00%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Approved by Riyad Bank Islamic Banking Sharia Committee; Financing worth up to SR1.5 million; Repayment period up to 60 months

3,000

2,500,000

2.54%

1.40%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Sharia Compliance, Instant Approval, Payment programs with easy installments for up to 5 years, Possible Top-up financing, Deferred installments during the holy month of Ramadan, Insurance in case of death or disability, Repayment period up to 60 months

3,000

1,500,000

from 2.7%

from 1.49%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Shariah Compliant; Local commodities for Murabaha transaction; Financing up to SAR 1.5 Million; Repayments over five years. New finance after 15% repayment of existing finance; In case of death (God forbidden); customer will be exempted from remaining payments; Balance transfer from other banks

3,000

500,000

4.08%

2.25%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Repayment upto 5 years; Maximum amount upto SAR 500000; Fully Shariah Compliant

3,000

1,000,000

from 4.92%

from 2.71%


  • Features
    • No Arrangement Fee
    • No Early Settlement Fee
  • Main Benefit
    Tenor period up to 60 months; Fast Approval; Relief of heirs from remaining due monthly installments of the tenor in case of death; Refinancing; Shariah compliant

3,000

1,500,000

from 3.99%

from 2.20%


  • Features
    • No Arrangement Fee
  • Main Benefit
    Sharia Compliant based on Murabaha and Tawarruq; Repayment period of up to 5 years; Fixed profit rate and fixed installments; In case of death or permanent disability – God Forbid- the legal heirs will be exempt from paying the outstanding contributions

3,500

1,000,000

N/A

N/A


  • Features
    • No Arrangement Fee
  • Main Benefit
    Approved by the Shariah Committee of SAIB; Sponsor/Guarantor not required; Maximum repayment period of 60 months; Maximum loan amount of SAR 1000000; Access to re-financing facilities; Debt relief in case of death

3,000

60,000

0%

0%


  • Features
    • No Early Settlement Fee
  • Main Benefit
    Finance amount up to SR 60000; Available for Saudi nationals and expatriates working in government; semi-government or private sectors; Takaful insurance at no additional cost to you. In case of death or total disability God forbid the remaining instalments are waived by Samba.
Page 1 of 2

Our Guide to Personal Finance in Saudi Arabia

You can now search and compare over 30 personal loans in the Kingdom of Saudi Arabia. Your search criteria can be refined based on your needs, i.e. a shariah compliant or conventional personal finance, is a salary transfer required or not and more. Souqalmal.com will allow you to compare all the different personal finance products offered in the market and pick the product that is most suited to you.

What should you know before you decide to apply for a personal finance in Saudi Arabia?

Across the various banks in Saudi Arabia, you can now compare over 30 personal loans and choose the one that matches your financial requirements and eligibility.

1. On Souqalmal.com, you can start your search by choosing whether you want a Shariah Compliant or a conventional personal finance. You can filter your search results by Islamic or conventional on the search box.   

2. How much do you need? The loans or finance options listed on our website will give you the maximum finance amount the banks in Saudi Arabia offer however, the final amount given to you will be based on which employer you work for, how much your monthly salary is and whether you have any other financial payments going out.

3. Every personal loan offered has a minimum salary criteria and a transfer salary requirementYou can sort by minimum salary on the website and look at the products that fall within your eligibility. And then you can look at the salary transfer requirement. General rule is that a personal loan or a personal finance product with a salary transfer has a lower profit rate than one that does not require a salary transfer.

4. What is the rate the bank is quoting you – Flat or Reducing? The difference between a flat and a reducing rate is the calculation method, whereby a flat rate is calculated on the principal loan amount you have taken from the bank for the full duration of the finance while the reducing rate is calculated on the outstanding balance. A personal loan offered to you at a flat rate of 4.41% is the same as a personal loan with a reducing rate of 8%. We provide you both rates on the website so you can compare products side by side and the calculation we currently use is dividing the reducing rate by 1.814 to get the flat rate.

5. There is an upfront fee charged by the banks in Saudi Arabia to process your personal loan and this amount can vary from bank to bank and personal finance product to another so make sure you are aware of the fees.

6. Do you think you would pay your personal finance ahead of the agreed time? The common law for Islamic personal finance is that you need to settle the agreed profit amount in full. However banks in Saudi Arabia can offer you a rebate or a discount on the profit amount as a gesture of goodwill at their end.


Read less
Read more
Advertisment
Back to Top