Non-salary Transfer Personal Finance

Whatever your needs, SAB provides you flexible financing solutions to cover your personal and family expenses easily and without the need for salary transfer.

Tawarruq Concept

The “Tawarruq” concept is Islamic finance agreement that approved by SAB Shariah Supervisory Committee. SAB owns metals that it purchased from the global market. These metals are then sold to you at a known and fixed annual percentage rate. After buying the metals from SAB, you can issue a power of attorney to SAB for the purpose of selling the metals for cash.

Features & Benefits:

  • Fully Shariah-compliant financing solution
  • Instant approval and you can get your finance within 3 hours, if you have provided all required documentation
  • Financing of up to SAR 300,000
  • Repayment period of up to 5 years (60 months)
  • Ability to select the repayment monthly installment date of your choice.
  • Additional personal finance (top up) is possible after paying off a minimum of 20% from your current finance principle amount.
  • In case of death or permanent disability (God Forbid), outstanding finance amount will be waived after providing the required documents.

Eligibility Criteria:

  • The applicant must be at least 21 years of age and maximum 58 years for government or 60 years for private sector.
  • A minimum total salary starts from (SAR 10,000) and for non-Saudis (SAR 15,000)
  • The applicant must be employed for at least 6 months in his/her current job.
  • For retirees, customer must be between 40 and 70 years of age
  • Available for approved employers list.
Finance amount APR   Maturity in Years Monthly installment
200,000 8.18% 5 Years 4,000

Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.

 *APR & Monthly repayment amount may differ depending on the amount and the maturity period and the prevailing bank rate


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