Personal Finance

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

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For New Customers

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For Existing Customers

Features

In case of death or permanent total medical disability, god forbid, all outstanding amounts will be considered paid.

Amount of SAR 10,000 to SAR 1,500,000. This product is for Salary transferred and Buyout.

Repayment period from 12 months to 60 months

Our Personal Finance is Shariah Compliant

Competitive Personal Finance offers

Automated and quick process to ensure fast disbursement of personal finance

Asset 1 Asset 3

Customer Eligibility and conditions:

Product

Personal Finance (PF)

Nationality

Saudi

Expatriates

Salary Credit in GIB

Salary assignment mandatory

One A/c Held

Yes

Yes

Minimum Age at Commencement (Years-G)

18

18

Maximum Age at Maturity (Years-G)

Retirement Age s.t. max 65

Retirement Age s.t. max 65

Employer Classification

A B C

Minimum Salary (SAR)

5000

 A & B 5000, C 7000

Whitelist Employer *

Yes

Minimum Period in Employment (Govt Sector)

1 Month

1 Month

Minimum Period in Employment (Pvt Sector)

A & B 3 months, C 1 year

2 Years

End Of Service

NA

EOS cover 100 % from the PF loan **

Minimum Existing SIMAH History

12 months for class C only

Maximum Credit Limit (SAR)

 A: 1500000
B: 1000000
C: 500000

 A:500000
B: 200000
C:150000

Maximum Tenure for Loans (Months)

60

36

Debt Burden Ratio (DBR)

 

 

Employed ( Saudis / Expats)

0.3333

Retired

0.25

NO

Documentation Required

 

Employment Certificate

Yes

Salary Assignment Letter with
 EOS Commitment.

Yes

3 Months Bank Account Statement

Yes

Murabaha Finance Example:

Loan amount

Tenures

APR

Monthly installment

Admin fee

SAR 50,000 

60 Months

3.58%

SAR 900

500 SAR