#1 2012-05-20 14:26:16
- fahadn70
- New member
- From: Dammam
- Registered: 2012-05-20
- Posts: 4
i need bank loan in KSA
i live in saudia arab last 6 years and working in steel mills can i get this loan from samba bank where my salary deposit in SABB bank but i need bank loan from samba bank tell me is it possible if yes how
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#2 2012-05-20 14:28:30
- fahadn70
- New member
- From: Dammam
- Registered: 2012-05-20
- Posts: 4
Re: 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
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#3 2012-05-20 14:31:00
- fahadn70
- New member
- From: Dammam
- Registered: 2012-05-20
- Posts: 4
Re: i need bank loan in KSA
how i know i am with samba approved employer
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#4 2012-05-20 17:38:52
- TheLegendLeads
- A SharpShooter

- From: Riyadh
- Registered: 2010-04-06
- Posts: 3066
Re: i need bank loan in KSA
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.
"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker
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#5 2012-05-20 17:44:48
- fahadn70
- New member
- From: Dammam
- Registered: 2012-05-20
- Posts: 4
Re: i need bank loan in KSA
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
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#6 2012-05-20 18:14:46
- TheLegendLeads
- A SharpShooter

- From: Riyadh
- Registered: 2010-04-06
- Posts: 3066
Re: i need bank loan in KSA
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.
"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker
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#7 2012-06-05 20:26:29
- shahrukh khan 0786
- New member
- From: karachi
- Registered: 2012-06-05
- Posts: 1
Re: i need bank loan in KSA
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.
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#8 2012-06-06 12:24:53
- agent47
- Contributor
- From: Jeddah
- Registered: 2012-01-16
- Posts: 141
Re: i need bank loan in KSA
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"
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#9 2012-06-06 12:28:11
- agent47
- Contributor
- From: Jeddah
- Registered: 2012-01-16
- Posts: 141
Re: i need bank loan in KSA
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.
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#10 2012-10-08 06:27:38
- tonguetwister
- Contributor
- From: Riyadh
- Registered: 2012-01-05
- Posts: 185
Re: i need bank loan in KSA
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?
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#11 2012-11-29 21:52:13
- TheLegendLeads
- A SharpShooter

- From: Riyadh
- Registered: 2010-04-06
- Posts: 3066
Re: i need bank loan in KSA
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.
"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker
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#12 2012-12-01 18:09:15
- balamuruganvaithilingam
- New member
- From: jubail
- Registered: 2012-12-01
- Posts: 4
Re: i need bank loan in KSA
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
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#13 2012-12-01 23:01:33
- Kymadoce
- Contributor

- From: Riyadh
- Registered: 2012-05-24
- Posts: 166
Re: i need bank loan in KSA
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 !
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#14 2012-12-02 12:35:03
- balamuruganvaithilingam
- New member
- From: jubail
- Registered: 2012-12-01
- Posts: 4
Re: i need bank loan in KSA
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
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#15 2012-12-02 13:26:51
- wilson_derry
- SEO

- From: Bombay
- Registered: 2011-07-16
- Posts: 1583
Re: i need bank loan in KSA
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 !
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#16 2012-12-02 13:29:40
- wilson_derry
- SEO

- From: Bombay
- Registered: 2011-07-16
- Posts: 1583
Re: i need bank loan in KSA
@ Kymadoce can you post the bank loan pamphlates online so that others will know the procedure and how much is the interest rate? 
Last edited by wilson_derry (2012-12-02 13:31:20)
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#17 2012-12-02 16:27:35
- Kymadoce
- Contributor

- From: Riyadh
- Registered: 2012-05-24
- Posts: 166
Re: i need bank loan in KSA
@ Wilson
Bala check this out :-
http://www.sabb.com/1/2/sabb-en/contact-us
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#18 2012-12-04 21:42:28
- TheLegendLeads
- A SharpShooter

- From: Riyadh
- Registered: 2010-04-06
- Posts: 3066
Re: i need bank loan in KSA
SABB is the easiest but at the cost of bigh interest @ 4.77 per annum.
"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker
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#20 2012-12-05 19:06:10
- balamuruganvaithilingam
- New member
- From: jubail
- Registered: 2012-12-01
- Posts: 4
Re: i need bank loan in KSA
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
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#21 2012-12-05 21:34:58
- TheLegendLeads
- A SharpShooter

- From: Riyadh
- Registered: 2010-04-06
- Posts: 3066
Re: i need bank loan in KSA
Yes, at least 01 year of service with current company. Also the interest offered may depend on your tenure with your employer.
"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker
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#22 2012-12-06 07:57:34
- balamuruganvaithilingam
- New member
- From: jubail
- Registered: 2012-12-01
- Posts: 4
Re: i need bank loan in KSA
ok thank you, then i will try after 1 year
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#23 2012-12-06 20:58:28
- TheLegendLeads
- A SharpShooter

- From: Riyadh
- Registered: 2010-04-06
- Posts: 3066
Re: i need bank loan in KSA
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
"The cure for boredom is curiosity. There is no cure for curiosity." -- Dorothy Parker
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