Available in Saudi Riyals as well as other major currencies approved by SAIB.
A savings option where customers deposit a specific amount of money for a predetermined period, ranging from months to years, at an agreed-upon interest rate.
It offers fixed returns upon maturity, making it an ideal choice for individuals seeking a secure and predictable way to grow their savings.
Multiple Currencies
Investment Period
Choice of investment period from 1 week to 12 months.
Conventional Banking Product
Offered only at our Regional Head Office branches in Khobar, Jeddah, Jubail and Riyadh.
Key Requirements
to open a Time Deposits Account
Minimum age of 18 years, except for Saudi nationals with a valid ID card, who may qualify at 15 years old.
Saudis, GCC citizens with proof of Saudi address, and non-Saudis/GCC residents with valid Iqama.
Minimum investment amount of 10,000 or USD 5,000.
Premature withdrawals are permitted subject to a handling fee.
Documentation
SAIB Time Deposit agreement form.
Service Standards
The entire process of opening an account takes no more than 25 minutes at any of SAIB Branches.
Account identification card is issued immediately.
Terms & Conditions
Click here to view the account opening terms and conditions.