meem’s personal finance is created to be simple, transparent and suitable to our customer’s needs.

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For New Customers

Features

Digital application journey

Financing amount up to SAR 1,500,000.

Financing period up to 60 months

Shariah Compliant

Competitive rates across all segments

Buyout (debt transfer) option available

Asset 1 Asset 3

Customer Eligibility and Conditions:

Personal Finance (PF)

Product

Expatriates

Saudi

Nationality

Salary assignment mandatory

Salary Credit in meem by GIB

Yes

OnePack a/c held

18

Minimum age at commencement (Years-G)

65

Maximum Age at maturity (Years-G)

A B C

Employer classification

Employer classes A&B:5,000


Employer class C:4,000

Employer classes A&B:5,000


Employer class C:4,000

Minimum salary (SAR)

Not Necessarily

Whitelist employer

1 month

Minimum current employment period (Govt sector)

2 years

Employer classes A, B&C:
6 months

Minimum current employment period (Private sector)

EOS cover 100 % from the PF loan

N/A

End of service

No minimum existing SIMAH history

Minimum existing SIMAH history

Employer class A: 500,000 S.R

Employer class B: 200,000 S.R

Employer class C: 150,000 S.R

Employer class A: 2,500,000 S.R

Employer class B: 2,000,000 S.R

Employer class C: 1,500,000 S.R

Minimum credit limit (SAR)– not including non-white list

36

60

Maximum tenor for loans (months)

Debt Burden Ratio (DBR)

0.333

Employed

NO

0.25

Retired

Documentation required:

Employment Certificate, Salary Assignment Letter with End of Service Commitment, No Objection Certificate and Commitment Letter (in case of buyout), 3 Months Bank Account Statement, National Address, Work ID or military ID (if applicable), Pay slips (if applicable), and GOSI (if applicable).

Example of Murabha financing:

Management fees

Monthly installment amount

Annual Percentage Rate

Maturity in years

Finance amount

500 SAR

900 SAR

3.58%

5 Years

50,000 SAR

The above table is an example and the APR may vary according to the amount, maturity period and credit score of each customer.