There are a large group of questions about the conditions required to obtain a loan through the Social Development Bank in the State of Saudi Arabia, as the bank has provided a huge range of soft financing, including family financing without interest and in installments for only 48 months. Financing can also be obtained without administrative fees and other benefits and financing services available. For individuals to solve the high cost of living in the Kingdom of Saudi Arabia, we will therefore explain to you all the terms and conditions required to obtain this financing program with the Social Development Bank in Saudi Arabia.
Applying for a family loan
Social Development Bank loan conditions for Saudis
There are some Saudi citizens, male and female, who want to obtain a family loan through the Social Development Bank in the State of Saudi Arabia because it does not conflict with the teachings of the Islamic religion. It can also be obtained without a guarantor of Saudi nationality in the event that the applicant is a Saudi employee. The loan can also be obtained without a profit margin. However, this requires providing all necessary guarantees as follows:
- The applicant must have Saudi citizenship.
- Providing a fixed monthly income equal to 3,000 Saudi riyals per person.
- The family income must not exceed 14,500 Saudi riyals.
- The appropriate age must also be provided for application, which may reach 70 years only.
- The applicant must be of Saudi nationality to obtain the family loan program in the State of Saudi Arabia.
- Providing the Saudi national address in the Kingdom of Saudi Arabia.
Advantages of a family loan from the Credit Bank
- Family loan without a Saudi national guarantor for all government sector employees.
- Also, a family loan without additional interest or without profits from the Social Development Bank.
- Social Development Bank without administrative fees up to the maximum limit for electronic submission.
- As well as a family loan in easy monthly installments for a period of up to 48 months.
- Family financing ranges from 18 thousand Saudi riyals to a maximum of 100 thousand Saudi riyals.
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2024-02-16 23:53:45
