Salary
Tawaruq Personal Finance
Key features
- Shariah-compliant financing
- Quick turnaround time
- A top up facility is available after repayment of 20% of your existing finance
- Financing of up to SR 2,500,000
- Minimum salary: 3500 For Saudi / 5000 Non-Saudi
- Customers with dual income can be financed on the average of incomes
- Step-down financing before retirement
- A repayment period of up to 5 years
- Exemption from remaining repayments in case of death (** Terms and Conditions apply)
- Possibility of loan transfer
- The management fees 1% of the financing amount or SAR 5,000 whichever is less.
Documentation
- Salary Certificate & salary assignment letter
- Bank Statement
- Original ID
- BSF current account
Example 1
| Early Payment Charges | Monthly Installment | Maturity in Years | APR | Salary | Drawdown Amount |
|---|---|---|---|---|---|
| Profit of future 3 installments | 2,715 | 60 Month | 3.96% | 15000 | 150,000 |
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.
Example 2
| Early Payment Charges | Monthly Installment | Maturity in Years | APR | Salary | Drawdown Amount |
|---|---|---|---|---|---|
| Profit of future 3 installments | 3,340 | 48 Month | 4.11% | 15000 | 150,000 |
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.
Example 3
| Early Payment Charges | Monthly Installment | Maturity in Years | APR | Salary | Drawdown Amount |
|---|---|---|---|---|---|
| Profit of future 3 installments | 4,382 | 36 Month | 4.36% | 15000 | 150,000 |
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.
| Early Payment Charges | Monthly Installment | Maturity in Years | APR | Salary | Drawdown Amount |
|---|---|---|---|---|---|
| Profit of future 3 installments | 6,467 | 24 Month | 4.87% | 15000 | 150,000 |
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.
| Early Payment Charges | Monthly Installment | Maturity in Years | APR | Salary | Drawdown Amount |
|---|---|---|---|---|---|
| Profit of future 3 installments | 12,725 | 12 Month | 6.50% | 15000 | 150,000 |
Rates/prices presented are examples and they may vary depending on different factors such as the customer’s credit history and worthiness.
* APR may differ depending on the amount and the maturity period different from the above example and subject to credit scoring of each customer
Personal Finance Tawaruq Agreement
