Features
Type
Showing 10 of 32 loans
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Arzaq Murabaha Finance
Saudi Investment Bank
New FinanceNon-Saudi
Min APR2.21%
Max AmountSAR 3,000,000
Max Tenure5 years
Admin Fee1% (max SAR 5,750)
Tawarruq Personal Loan
Riyad Bank
New FinanceNon-Saudi
Min APR2.92%
Max AmountSAR 3,000,000
Max Tenure5 years
Admin Fee0.5% (max SAR 2,875)
Min SalarySAR 3,000
Online Personal Finance
Riyad Bank
New FinanceNon-Saudi
Min APR2.92%
Max AmountSAR 3,000,000
Max Tenure5 years
Admin Fee0.5% (max SAR 2,875)
Min SalarySAR 3,000
Finance Without Salary Transfer
Riyad Bank
New FinanceNo Salary TransferNon-Saudi
Min APR2.92%
Max AmountSAR 3,000,000
Max Tenure5 years
Admin Fee0.5% (max SAR 2,875)
Min SalarySAR 8,000
New Personal Finance
Al Rajhi Bank
New FinanceNon-Saudi
Min APR3.07%
Max AmountSAR 2,500,000
Max Tenure5 years
Admin Fee1% (max SAR 5,750)
Min SalarySAR 2,000
Additional Income Financing
Al Rajhi Bank
New FinanceNo Salary TransferNon-Saudi
Min APR3.1%
Max AmountSAR 2,500,000
Max Tenure5 years
Admin Fee1% (max SAR 5,750)
Min SalarySAR 2,000
Personal Finance
Arab National Bank
New FinanceNon-Saudi
Min APR3.15%
Max AmountSAR 3,000,000
Max Tenure5 years
Admin Fee0.5% (max SAR 2,875)
SAB Personal Finance
Saudi Awwal Bank
New FinanceNon-Saudi
Min APR3.21%
Max AmountSAR 2,000,000
Max Tenure5 years
Admin Fee1% (max SAR 5,750)
Top-Up Finance
Al Rajhi Bank
New FinanceNon-Saudi
Min APR3.32%
Max AmountSAR 2,500,000
Max Tenure5 years
Admin Fee1% (max SAR 5,750)
Min SalarySAR 2,000
Personal Finance
Alinma Bank
New FinanceNon-Saudi
Min APR3.43%
Max AmountSAR 7,500,000
Max Tenure5 years
Admin Fee0.5% (max SAR 2,875)
Min SalarySAR 3,000
Showing 1-10 of 32
Your Complete Guide to Personal Loans in Saudi Arabia
Everything you need to know about personal finance from Saudi banks
What is a Personal Loan?
A personal loan is a sum of money granted by the bank for any personal purpose such as home renovation, travel, medical expenses, or debt consolidation. In Saudi Arabia, most banks offer Sharia-compliant personal finance using the Tawarruq structure — the bank purchases a commodity and sells it to you at a disclosed profit, which you then sell on the market to receive cash liquidity.
Repayment is made in fixed monthly installments that include the principal and the agreed profit. All banks are regulated by the Saudi Central Bank (SAMA), which mandates disclosure of the Annual Percentage Rate (APR) inclusive of all costs under Article 21.
Types of Personal Loans Available
Saudi banks offer several types of personal finance. Standard personal loans are the most common and give you cash for any purpose. Debt buyout loans let you transfer your existing loan from one bank to another at better terms. Top-up loans add an additional amount on top of your current loan.
Specialized types also exist, including education loans and installment deferral products (which offer a grace period before repayment begins). Some banks offer loans without salary transfer, though usually with stricter conditions or lower amounts.
Understanding APR and Costs
The Annual Percentage Rate (APR) is the most important metric for comparing loan costs — it includes the profit margin plus all administrative fees and insurance costs. SAMA requires all banks to disclose this rate. Administrative fees typically range from 0.5% to 1% of the loan amount with caps that vary by bank, all inclusive of 15% VAT.
When comparing loan offers, always focus on the APR rather than the profit rate alone, because two banks may advertise the same profit margin but have different total costs due to administrative fees and insurance. On Bankkie, we display the inclusive APR for every product to make comparison straightforward.
The 65% Debt Burden Ratio Rule
SAMA caps the Debt Burden Ratio (DBR) at 65% — meaning your total monthly installments (personal loans, mortgage, car finance, and credit cards) cannot exceed 65% of your monthly salary. This rule protects borrowers from over-indebtedness and determines the maximum loan amount you can qualify for.
For example, if your salary is SAR 10,000, the maximum for all your installments is SAR 6,500 per month. If you already have a SAR 2,000 car payment, you have SAR 4,500 remaining for personal loans. You can improve your borrowing capacity by paying off existing debts or using a debt buyout loan to consolidate installments at a lower amount.
Eligibility and Requirements
To qualify for a personal loan, the bank checks your SIMAH (Saudi Credit Bureau) report to review your payment history and existing obligations. Most banks require salary transfer, with minimum salary thresholds ranging from SAR 2,000 to SAR 5,000 depending on the bank and loan type. Some banks require a minimum service period with your current employer.
Expats can apply for personal loans with a valid Iqama and salary transfer, though terms and available limits may differ. Previous late payments recorded in SIMAH negatively affect approval chances — the report retains data for 5 years. Paying off existing debts and improving your SIMAH report increases your chances of getting better terms.
Early Repayment and Loan Management
All Saudi banks allow early repayment of personal loans, but charge an early settlement fee typically equivalent to 1 to 3 months of profit on the remaining balance. Some banks waive this fee under specific promotions or after a certain period. Upon early settlement, unearned future profits are deducted.
If you face difficulty making payments, you can contact the bank to reschedule installments or request a temporary deferral. Debt buyout is another option — a new bank takes over your loan at better terms, potentially lowering your monthly payment. Compare all options on Bankkie to find the best offer.
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Frequently Asked Questions
Answers to common questions about personal loans
📋What are the requirements for a personal loan in Saudi Arabia?
Key requirements include: Saudi nationality or valid Iqama, minimum salary (starting from SAR 3,000–5,000 depending on the bank), salary transfer in most cases, and employment with an approved employer. The bank checks your SIMAH credit report to verify existing obligations.
📊What is the Annual Percentage Rate (APR) and how is it calculated?
APR is the total effective annual cost of financing, including the profit margin, admin fees, and insurance. SAMA requires all banks to disclose APR per Article 21 of financing regulations. The lower the APR, the lower the actual cost of your loan.
⚖️What is the Debt Burden Ratio (DBR) and how does it affect my loan?
The Debt Burden Ratio is the percentage of your total monthly installments (including the new loan) relative to your salary. SAMA caps this at 65% for most borrowers. This means your combined monthly payments across all loans cannot exceed 65% of your income, which determines the maximum amount you can borrow.
🕌What's the difference between Murabaha and Tawarruq?
Murabaha: the bank buys a commodity and sells it to you at a disclosed profit with installment payments. Tawarruq: the bank buys a commodity, then you sell it on the market to obtain cash liquidity. Most personal financing in Saudi Arabia uses Tawarruq as it provides direct cash. Both structures are approved by Sharia supervisory boards.
💰What's the maximum loan amount I can get?
The maximum amount depends on your salary, existing commitments, and the 65% DBR rule. Some banks offer financing up to SAR 5 million for qualified customers. As a rule of thumb, estimate your maximum by multiplying your available monthly installment (65% of salary minus existing payments) by the number of financing months.
⏱️Can I pay off my personal loan early?
Yes, SAMA requires banks to allow early repayment. When you pay early, a portion of future profits is discounted according to each bank's policy. Some banks offer full rebate on remaining profits, while others charge limited early repayment fees.
🧾What are the admin fees for personal loans?
Most banks charge admin fees ranging from 0.5% to 1% of the financing amount, with a maximum cap that varies by bank (typically SAR 5,750 including VAT). Admin fees are charged once at disbursement and are included in the APR calculation.
🔓Can I get a loan without salary transfer?
Some banks offer financing without salary transfer, but typically at higher profit rates or lower amounts. This option suits freelancers or those who prefer keeping their salary account at another bank. Use the "No Salary Transfer" filter to view these offers.
📊How does my SIMAH credit report affect my application?
The bank checks your SIMAH report to review existing commitments and payment history. Past late payments or defaults reduce approval chances or result in higher profit rates. You can get your report for free from simah.com before applying to check for errors.
🌍Can non-Saudis get personal loans in Saudi Arabia?
Yes, most banks offer personal financing to residents with a valid Iqama and salary transfer. Conditions may be stricter: higher minimum salary, sufficient remaining Iqama validity, and employer guarantee. Some banks require a minimum remaining Iqama validity (at least 6 months).