Bank Loan Interest

With good income you should be able to get a personal loan from your bank at a much lower rate.

3.5% to 6%

That's the maximum interest rate for personal loan? How much they can lend me maximum?

Ok, let me detail it down:

1- Your best bet is to check with your company for a personal loan. Some companies have plans in place to support the employees (that will be 0% interest of course and payable as deduction from monthly salary).

2- The companies who don't facilitate employees in the above mentioned way, they support the employees with the loans from bank (my company is an example). They must have contract(s) with bank(s). The interest rate of such loans is as low as 3.5% [but it depends on the duration you've been there with this company, your package etc]. Your company will provide them assurance that your end-of-service are going nowhese else than their account if due to any reasons (God Forbid) you are unable to pay them back. That's how you get an easy and low-interest rate loan.

3- The third possible way is to apply for a personal loan from the bank independently. Your SAMA records about credit card etc must look good. The interest rate from Saudi British Bank, for example, is 6%.

I hope this helps.

But they will grant only minimum 1 year employment from your company right? Im referring to number 2 and 3 details

Yes, As I remember you have to have completed 1 year minimum to get eligible.

hmmmm okay. Thanks for the info.. till then

Just a tip:
For bank loans, do consider the gulf banks in KSA like Muscat Bank, Alinma etc. They are rather flexible and offer low interest rates becuse they actually need investing in KSA.

i want to ask about car loan in Riyadh..... I want to buy new car
and its cost is 120000
i want to know how much interest it will.... 

    can u give me some idea plz

             thanx.....