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 meem by GIB

Salary assignment mandatory

OnePack a/c held

Yes

Minimum age at commencement (Years-G)

18

Maximum Age at maturity (Years-G)

65

Employer classification

A B C

Minimum salary (SAR)

Employer classes A&B: 5,000

Employer class C: 4,000

Employer classes A&B:5,000

Employer class C:4,000

Whitelist employer

Not Necessarily

Minimum current employment period (Govt sector)

1 Month

Minimum current employment period (Private sector)

Employer classes A, B&C: 6 months

2 Years

End of service

N/A

EOS cover 100 % from the PF loan

Minimum existing SIMAH history

No minimum existing SIMAH history

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

Employer class A: 2,500,000
Employer class B: 2,000,000
Employer class C: 1,500,000

Employer class A:500,000
Employer class B: 200,000
Employer class C:150,000

Maximum tenor for loans (months)

60

36

Debt Burden Ratio (DBR)

Employed

0.3333

Retired

0.25

NO

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).

Murabaha Finance Example:

Loan amount

Tenures

Annual Percentage Rate (APR)

Monthly installment

Admin fee

SAR 50,000 

5 Years

3.58%

SAR 900

500 SAR

The above table is for example, and the annual percentage rate may differ according to the amount, maturity period, and credit score for each customer.

Price or calculation is subject to change depending on the influencing factors such as consumer’s credit records