I need bank loan in KSA

Eligibility conditions
You should be at least 23 years of age
Your monthly income should be at least SR 5,000
You should be employed for at least one year
You should be working with a Samba-approved employer

Required Documents
Application form
A clear photocopy of a valid Iqama
Certificate of employment stating job title, joining date, monthly income and    allowances, if any
Salary transfer letter from the employer

how i know i am with samba approved employer

SABB is quite flexible these days issuing loans charging a pretty high interest rate 4.77%.

Your best best here would be to give it a shot. Just visit SAMBA and apply in the devised way.

i have salary account in SABB bank so if i need bank loan from SAMBA bank i need to open a bank account with SAMBA BANK do you have any idea about this

fahadn70 wrote:

i have salary account in SABB bank so if i need bank loan from SAMBA bank i need to open a bank account with SAMBA BANK do you have any idea about this

So, Didn't you consider SABB for a loan?

By the way, if you go for SAMBA, they'll ask you to open an account with them and your salary will be trasnferred to THAT account.

One basic question: did you check with your HR department? They may have a contract with some bank about employee loans.

dear,

a have account in samba a bank and i want to take loan form samba bank. my salary package sr.7500 but basic salary sr.4300.so please tell me how much riyal i can get loan and how much i have to pay intrest please give me full detail about loan policy.

shahrukh khan 0786 wrote:

dear,

a have account in samba a bank and i want to take loan form samba bank. my salary package sr.7500 but basic salary sr.4300.so please tell me how much riyal i can get loan and how much i have to pay intrest please give me full detail about loan policy.

"Dear" a wise word. no one will ever tell you that sitting here on the forum. so "dear" why dont get you A** moving to the nearest Samba bank branch. Kind Regards, a "Dear"

fahadn70 wrote:

i have salary account in SABB bank so if i need bank loan from SAMBA bank i need to open a bank account with SAMBA BANK do you have any idea about this

Stay tuned as SABB is going to unveil special corporate rates for personal financing. I heard something lower than 4%.

So go checkout if SABB is offering any special corporate financing rate to you.

TheLegendLeads wrote:

SABB is quite flexible these days issuing loans charging a pretty high interest rate 4.77%.

Your best best here would be to give it a shot. Just visit SAMBA and apply in the devised way.

4.77% interest is low. My loan for law school was charged at a rate of 7.9%! If only I had known.

As a side note, I thought the charging of interest was contrary to Sharia? Anybody shed any light on this?

tonguetwister wrote:

TheLegendLeads wrote:

SABB is quite flexible these days issuing loans charging a pretty high interest rate 4.77%.

Your best best here would be to give it a shot. Just visit SAMBA and apply in the devised way.

4.77% interest is low. My loan for law school was charged at a rate of 7.9%! If only I had known.

As a side note, I thought the charging of interest was contrary to Sharia? Anybody shed any light on this?

Yeah. Personal loans in the world are given at a much higher rate e.g. in my home country, it's 19% per annum. The catch here is: Others offer it even lower than 4.77%

About the side note: Ah... It's a long long discussion. But my perspective is quite simple and realistic here (I trust). In the leading Islamic state, with government authorozing banks to call the interest as Shariat compliant with legal acclaimation (fatwas) in-hand, it's no more our responsibility to doubt or justify it. Nor we'll be considered answerable.

Dear All

I came to saudi on last month and i worked in qatar for past 5 years. Till now i didnot open the account in any bank and the company is also not opening the account, but it will done within a month. Normally my company is opening the account in SABB bank.

I got the salary certificate from my company and went to riyadh bank, they are telling your company is not having agreement, so u can ope nthe account but u cannot get the loan because your company does not have agreement in riyadh bank like that replied.

Then i went to SABB bank since all my colleagues salaries are crediting in that bank. They are also telling your company is not having agrement with us like that. I asked to my company personnel, they are replying it is not possible to get loan in saudi.

Please tell any good idea to get the personal loan. it is very urgent for me

Don't have all the answers but few pointers :-
1. Your best shot for a loan is always in the bank your salary gets credited as the bank can see the records of salary transfer happening every month.

2. For approved companies, even without a salary transfer banks are offering loans.

3. Best bet is to call the call center of the bank and find out their conditions and if ur company is listed. Alternatively, U can visit the branch ,and meet a bank officer to find out. Do check the loan pamphlates available in the branches on the conditions s well. Also, try to check in ur company can give u advance salary , some companies actually do !

Thanks mr.kymadoce

I will follow my bank where the salary is credited.
And if i need to call to the call center of the bank, do u have any no to call. please advice i dont know the details.

bala

Give the bank call center numbers, balamuruganvaithilingam is still waiting

Kymadoce wrote:

Don't have all the answers but few pointers :-
1. Your best shot for a loan is always in the bank your salary gets credited as the bank can see the records of salary transfer happening every month.

2. For approved companies, even without a salary transfer banks are offering loans.

3. Best bet is to call the call center of the bank and find out their conditions and if ur company is listed. Alternatively, U can visit the branch ,and meet a bank officer to find out. Do check the loan pamphlates available in the branches on the conditions s well. Also, try to check in ur company can give u advance salary , some companies actually do !

@ Kymadoce can you post the bank loan pamphlates online so that others will know the procedure and how much is the interest rate?

@ Wilson 

Bala check this out :-
http://www.sabb.com/1/2/sabb-en/contact-us

SABB is the easiest but at the cost of bigh interest @ 4.77 per annum.

Bank loan is easy but required manythings

dear Kymadoce & wilson

I checked with saudi hollandi bank today. they are ready to give the loan because my company is tie-up with that bank. But they refused because it is necessary to complete my job with my company for atleast one year. so it is also not possible.

i dont have any problem even the bank interest is 5%per annum.

BALA

Yes, at least 01 year of service with current company. Also the interest offered may depend on your tenure with your employer.

ok thank you, then i will try after 1 year

Just sharing an old file again. Must help all loan-seekers at least as a starting point.

http://dl.dropbox.com/u/23723725/Loans%20in%20KSA.pdf

How can I get a personal loan

Asif hassan wrote:

How can I get a personal loan

please read the above post, click the link and you will get the info, still not satisfied call the bank in which you want to apply for loan.

regards

If the expatriate was terminated by the company and they still balance loan in the bank what will happen to him?

If the loan was applied through the company, they had signed a contract with the bank that the loan will be paid back from employee's end of service benefits.

If the company was not involved, the employee has to deal directly with SIMAH (the saudi credit bureau)

I have balance loan in SABB now the company terminate with final exit visa my service awards and benefits was taken by the bank Now after 4 years I came back in KSA with new company. I call the SABB to check the status of my balance loan. According to SABB I had to continue my payment of my balance loan. Why I had to continue? as far as I know once you are terminated by the company you had no responsible with your balance loan.

Please advise.

kuyakoy wrote:

I have balance loan in SABB now the company terminate with final exit visa my service awards and benefits was taken by the bank Now after 4 years I came back in KSA with new company. I call the SABB to check the status of my balance loan. According to SABB I had to continue my payment of my balance loan. Why I had to continue? as far as I know once you are terminated by the company you had no responsible with your balance loan.

Please advise.

Comning back after four years, having the knowledge that the bank has taken your esb from your previous company -- you just have to check with them, don't you?

Dear,
I need a loan from any bank where my salary ac is in N C B bank, but i want to take it from Sabb.so it is possible?
Thanks

Mohammed Nazrul islam wrote:

Dear,
I need a loan from any bank where my salary ac is in N C B bank, but i want to take it from Sabb.so it is possible?
Thanks

Yes, you can; but expect a higher interest rate.

nelson115 wrote:

Dear Customer
Are you tired of seeking loans and Mortgages,have
you been turned down constantly By your banks
and other financial institutions,We offer any form
of loan to individuals and corporate bodies at low
interest rate.If you are interested in taking a
loan,feel free to contact us today,we promise to
offer you the best services ever.Just give us a
try,because a trial will convince you.
What are your Financial needs?
Do you need a business loan?
Do you need a personal loan?
Do you want to buy a car?
Do you want to refinance?
Do you need a mortgage loan?
Do you need a huge capital to start off your
business proposal or expansion? Have you lost hope and
you think there is no way out, and your financial
burdens still persists?

1. NAME OF APPLICANT.............................

2. RESIDENTIAL COUNTRY .....................

3. RESIDENTIAL ADDRESS:........................

4. BUSINESS ADDRESS:...........................

5. AGE:........................................

6. OCCUPATION:.....................

7. AMOUNT OF LOAN REQUIRED ..................

8.Loan Duration .......................

9. PURPOSE OF THE LOAN:.........................

10. Phone NUMBER:.......................

11.LOAN DURATION........................

FILL IN THE ABOVE INFORMATION AND SEND
IT TO THE CONTACT INFORMATION BELOW:

EMAIL: [email protected]

[email protected]

Kind Regards.

Tel : +447012985702

Mr Nelson Gay

Mr. Gay is going to help out every other person who is unable to get a loan! wohoo! and to my amazment he will be doing that over the @gmail and @hotmail email addresses whilst he sits across the globe. sounds legit Mr. Gay!

All we need is your bank account details to get the loan to you.

SCAMMERS I think.

i want a loan for 50000 riyal

Hi jamshidafredi,

Please an introduction for a good start?

Regards,

David.

P.S: Sorry for off-topic.

dear all im living in Saudi Arabia i like to take loan in samba bank i take may salary in samba bank my salary was only 1,960 Sr. can i take loan for my salary please tell me if my salary is ok

Francis (or whoever you are),

Wow, you worked hard just to make the point that you are not one of the scammers. Actually you are the meaner one. You know what? Only idiots can believe in whatever you wrote.

Reporting your post to admins for moderation. Bye bye!

moimai wrote:

dear all im living in Saudi Arabia i like to take loan in samba bank i take may salary in samba bank my salary was only 1,960 Sr. can i take loan for my salary please tell me if my salary is ok

@moimai,
The minimum requirement to get a loan from any bank (being an expatriate), your salary must be at least 3,000 SAR.

Having a look at this document must be helpful (though it's  little old).

http://dl.dropbox.com/u/23723725/Loans%20in%20KSA.pdf

Hi Sir,

Could you help me facilitate loan in Saudi Arabia?
0569453774