Key Requirements
to apply for a Car Murabaha Finance
Compatible with the provisions of Islamic Shariah
Debt relief in case of death or permanent disability (God forbids).
No Sponsor /Guarantor required.
Get the finance on the same day in case all applicant documents are complete.
Minimum payment period of 6 Months and maximum 60 Months.
Minimum finance amount of 50,000 and maximum 3,000,000.
to apply for a Car Murabaha Finance
Minimum age of 18 years old with a maximum age of 60 at the maturity.
Administrative fee not exceeding 1% of the amount of funding or 5,000, whichever is less. It comes with a complementary salary account.
Saudi citizen, works for an employer included in the Bank’s approved list.
Transfer salary, supported by salary assignment letter from your employer, to your account with SAIB.
Offers free cheque-book, mada Debit Card from SAIB and access to SAIB Flexx Click Internet Banking, Flexx Touch Mobile Banking, Flexx Call contact center and SMS Banking facilities.
Employer’s salary transfer certificate and Account statement of last 3 months (showing last 3 salaries which are verified from the previous bank).
Kindly note that all Car Murabaha Finance facilities are subject to SAIB credit approval and SIMAH (Saudi Credit Bureau) verification.
To view the Personal Finance product risks, click here
For more information and details, please call us at: 800 124 8000.
The calculator provides estimates only and shall not be considered an approval for the financing application.
An example of information that will be obtained when applying for a product
Finance amount ( ) | 100,000 |
Tenor (Years) | 5 |
APR % | Starting from 4.71 |
Installment amount ( ) | 1,849.79 |
Payment Type | Principal and Profit |
*The Annual Percentage Rate (APR) may differ based on the amount and maturity period.
This is an Islamic financing product approved by the Bank’s Shariah Board.
To apply for this finance you need to meet the following eligibility criteria:
SAIB guarantees disbursal on the same day (subject to complete documentation).
Minimum finance amount is 50,000
The profit rate you pay is fixed for the entire tenor of the Murabaha Finance. For our current profit rate, or to enquire about special promotions, please contact our Flexx Call contact centre at 800 124 8000.
You automatically get a host of free benefits:
Acknowledgment form signed upon receipt of the car.
Kindly note that Saudi Armed Forces personnel may need to provide additional documentation. Please contact us for more details.
Contact our Flexx Call contact center at 800 124 8000 or visit any of our branches.
Maximum financing amount is 1,500,000.