Family financing from the Social Development Bank

A product targeting low-income families to help them bear the costs and burdens of life.

Financing features:

• The financing ceiling is up to 100,000 riyals (if you have not previously benefited from one of the social financing products).
• Financing period of up to 4 years.
• Payment method is monthly.
• No administrative fees.
• Exemption in the event of death, God forbid, according to the terms of the insurance policy.

General conditions for family financing:

• The borrower's age must not exceed 70 years.
• The monthly income should not exceed 14,500 riyals.
• The number of family members should not be less than two.
• The individual share of the family income should not exceed (3,000) riyals. The individual share is calculated by dividing the monthly income of the head of the family by the number of family members.
• A man is entitled to apply for family financing if he is married, widowed, or divorced, provided that he supports one or more children.
• A woman is entitled to apply for family financing if she is divorced, widowed, or the wife is abandoned, provided that she supports one or more children.
• The age of the abandoned wife applying for the loan must not be less than (30) thirty years, and the age of her youngest child must not be less than one year according to the Gregorian calendar.
• If you are not a government employee or retired from a government agency, you must have a sponsor who is a working government employee and whose age does not exceed 55 years.
• Provide a family card or a maintenance certificate.

Provisions for beneficiaries over 60 years of age :

• For those over 60 and under 65, the maximum financing limit is 30,000. If the beneficiary is over 65 and under 70, the maximum financing limit is 18,000.

Conditions for calculating the number of family members:

• The son is counted if he is under the age of twenty-four, unless he is employed or married.
• A girl is counted unless she is employed or married, regardless of her age.
• Children of persons with disabilities are counted regardless of age if they are unmarried and not employed.

Financing limits:

The value of the financing available to the beneficiary is calculated based on two factors, depending on the employment status:

• Employees (customers with income) are calculated based on the per capita income of the head of the household.
• Non-employees (customers who do not have income) are calculated based on the number of family members.

Financing is available according to the following table:

comments:

• The terms were taken from their source, and the terms may be updated from their source at any time. Please check the source before completing the application.
• Applications are temporarily suspended for those who have previously received one of the following types of financing from the Social Development Bank (family - marriage - restoration - protection).

Your trip to Na'in:

1. Request the service and complete the payment
2. We will contact you and send you all the requirements.
3. We submit the request

For more inquiries, please contact us on WhatsApp 0533227672