Bank loan in Saudi

Hello Imran,

There have been different levels of employer's commitment with bank when it comes to offering a loan to an employee.

initially banks insisted on employer's guarantee then came a reference letter and some banks wanted a commitment that bank be informed in case employee decides to leave KSA.

Unfortunately, an increasing number from all sorts of nationalities failed to return to Saudi after their annual vacations ,leaving their bank loans, Credit Cards and leased vehicles in debts.

Therefore it is not surprising to see that most employers do not want to get involved in their employee's borrowings.

Your best bet is to contact other banks as well , I am sure most banks are still offering loans on basic documents which you already possess e.g.  copy of Iqama, copy of employment contract and 6 months bank statements of the bank where your salary is credited.

Hi riaz

Thanks ,i will be looking for other bank options or take advanve salary or gain experiancee and move to better package company.

Azizo111 wrote:

Hi ,everyone this is Imran ,im currently working here in saudi for 1 year and my salary gets credited in bank al fransi .However when i inquired but getting a loan ,the bank.person said your company does not has agreement with us. Whats does it mean and my salary is tranfered still no agrement ?? And do i get a loan in riyad bank if i apply as non salary transfer..or does every bank has to check company is listed or not..? Please help me.

No agreement means your company has no agreement with the bank for financial dealings. Check with your company which bank they have agreement with and switch to that bank.

Most companies have / make agreements with banks for loan services for staff which complies with the banks request of salary transfer + loan closure from end of service in case staff defaults.

So check with your company as to which banks they have agreements with and then can approach that bank for loans.

Asalamualikum every one , i have taken the  bank loan  but due to some reason i was unable to pay back, today i got a call from the bank they , said if i dont pay the full within week , they put a case in court ,
i asked him to give me some discount on the amount but what they are offering its like nothing .
please advice me m ready to pay back 50% from the amount ,
can they will agree ? as a settlement amount .
one more thing if they book me in SAMA , what will happen ? my other bank accounts also blocked ?
please some one answer .

Hi!my husband is working in Jeddah..but unfortunately, he suffered to much depression and anxiety that he act and think in abnormal manner..now his boss advice him to file a resignation,and he is ok with it..the problem here is that, he has outstanding loan and credit card in SABB..i dont think his end of service will cover the amount..what will my husband do so he cant leave KSA and be back here so that we would treat his sickness..really need an advice since im so worried of my husband situation

Dear all my company doesnt allowed us to any bank to have loan its hard to apply that every application it was turned down..can anyone advice me what more options and where could someone like me can borrow..