Banking products in Saudi Arabia are specially designed to cater to the needs of Saudi nationals. Most banks emphasize on providing Saudi nationals with personal loans and mortgages which differ from other products in finance amounts and rates. Criteria such as salary, age and place of work differ from those required for expatriates, allowing nationals to easily finance their dream home, vacation or a special occasion. Have a look at a few examples below of products designed for Saudi nationals.

Banking products for Saudi Nationals

SAMBA Home Self-Construction

  • Great for:  With this particular loan, you can get financing to build your new home from scratch. Loan amounts can go up to SR 1.5 million with zero down payment requirements. In fact, you have the choice to acquire joint ownership of the property with a close relative, enabling you to get higher loan amounts. There is a fixed profit rate which will remain the same during your entire repayment period. Thus, giving you the option of paying the same installment every month.
  • Be aware: To be eligible for the loan, your employer or your company needs to be listed with SAMBA and you should be working with them for over a year. Also the chosen property cannot exceed 1500 square meters.

Bank Aljazira Home Finance

  • Great for: Get financing up to SR 5 million with monthly payments spread over the course of 30 years. Self-employed individuals are also encouraged to apply for this loan as multiple income sources are taken into considerations during loan approval.
  • Be aware: You will have to show proof of a good credit history during application and abide by any property criteria stated by the bank.

Al Rajhi Personal Finance

  • Great for: Customers applications can be approved within 30 minutes of submission. The minimum salary requirements range from SR 2000 to SR 4000, depending on whether you work for the government sector or the private sector.
  • Be aware: If you work for the private sector, requirements for minimum employment period and eligible age will be higher compared to others working for the government sector.

SAMBA Personal Finance

  • Great for: You will not need a guarantor to take out this personal loan. Finance amounts can go up to SR 1,500, 000 with a repayment period of 60 months. Also, the age and salary requirement is 18 years and SR 2,500 for employees working for a government or semi-government companies.
  • Be aware: Your current age and your retirement age will be taken consideration in order to calculate repayment periods. Other requirements will also apply depending on where you work.

Al Rajhi Personal Finance for Retirees

  • Great for: This loan has been specifically designed for senior citizens with a minimum salary requirement of SR 1,900. The finance amount can go up to 15 times your salary and you can pay off the loan in 5 years.
  • Be aware: There is a 100% early settlement fee if you decide to pay off the loan early. There is also a maximum age to apply for this loan which is capped at 70 years.

While getting a personal loan in Saudi Arabia, keep a special look out for early settlement fees as they can be 100% of the outstanding profit amount due for the full finance period. You can compare rates and charges of all personal loans and home loans for Saudi nationals on