With the Easy Payment Plan, holders of The Saudi Investment Bank Credit Cards can enjoy a more convenient shopping experience when making purchases worth SAR 500 or more at any store. The program allows them the flexibility to pay for their purchases through easy and equal payment plans that extend up to 18 months.
Payment Plans
- 3 Months
- 6 Months
- 9 Months
- 12 Months
- 18 Months
Features:
- Assisting you in managing unexpected large purchases, such as furniture, electronics, home appliances, and more.
- You can repay your purchases through equal and manageable monthly installments.
- Flexible payment plans: 3, 6, 9, 12, and 18 months.
- You can transfer multiple purchases to the Easy Payment Plan.
Requirements:
- Payment should be made with a SAIB Credit Card.
- Minimum transaction amount is SAR 500, and the maximum transaction amount is capped at 90% of the Credit Limit.
How to Transfer Purchases to the Easy Payment Plan?
- Shop at any store.
- Make your purchase using your SAIB Credit Card and keep the invoice.
- Call the Phone Banking Flexx Call at 8001248000 and transfer the transactions before the 2nd statement is generated, starting from the date of the transaction.
- Submit your request to transferring your purchase to the Easy Payment Plan
Service Fees:
The service fee for transferring the purchase to the Easy Payment Plan starts at 1% of the total transaction amount, as shown below:
| Payment Plan | Service Fees | Profit Rate (Paid monthly) |
|---|---|---|
| 3 Months | 1% | 0.99% |
| 6 Months | 1% | 0.99% |
| 9 Months | 1% | 0.89% |
| 12 Months | 1% | 0.89% |
| 3 Months | 1% | 0.79% |
Example:
Muhammad is interested in furnishing his new house during Ramadan offers. However, he doesn't have enough cash to purchase all the furniture before the end of the offer period. In this situation, how can the Easy Payment Plan assist him in paying for these purchases?
| Muhammad’s Credit Card | SAIB Vista Signature |
| Store he shopped at | A furniture store |
| Cost | SAR 75.000 |
| Profit rate (Paid monthly) |
0.89% |
| Installment amount if he chose the 12 Payment Plan | SAR 6,917.5 |
| Service fees (Paid only once) |
1% |
Terms and Conditions:
- Minimum purchase that can be transferred to the Easy Payment Plan is SAR 500.
- Maximum transaction amount is capped at 90% of the Credit Limit regardless of the chosen payment plan.
- Requests of transferring purchase to the Easy Payment Plan must be before the 2nd statement is generated, starting from the date of the transaction by calling the Phone Banking Flexx Call at 8001248000.
- Service fee starting from 1% will be applied on the total transaction amount of each purchase transferred to the Easy Payment Plan.
- Profit rate will be applied in accordance with the schedule outlined.
- Once a payment plan has been processed, it cannot be changed to another plan.
- SAIB Credit Card terms and condition will be applied.
FAQs
How can I transfer my purchases to the Easy Payment Plan?
You can transfer your purchases to the Easy Payment Plan when you make purchases worth SAR 500 or more using a SAIB Credit Card at any store. To initiate the process, call the Phone Banking Flexx Call at 8001248000 and transfer the transactions before the 2nd statement is generated, starting from the date of the transaction.
Is there a minimum limit for the transaction enrolled in the program?
Yes, the minimum transaction amount is SAR 500, and the maximum transaction amount is capped at 90% of the Credit Limit.
Are there any fees to enroll in the program?
Yes, a service fee starting from 1% will be applied on the total transaction amount of each purchase transferred to the Easy Payment Plan, with profit rates being implemented according to the outlined schedule.
Will I earn WooW points on purchases transferred to the Easy Payment Plan?
Yes, you will earn WooW points on any transaction on your Credit Card.
