Best Loan Bank in Saudi Arabia and UAE

The best banks for obtaining loans in Saudi Arabia and the UAE with different types of loans. Getting a good personal loan is very important for many. It may be the only solution for many problems. You will know about the types of loans and the best banks in Saudi Arabia for personal loans. United Nations.


Types of loans that can be obtained from banks.

A loan is a sum of money that is assumed by a person, entity or institution such as the bank. Each loan has a set of conditions that must be met, plus an interest to be imposed on it and a deadline for repayment of the loan.
The loans that the bank gives to its customers are divided into several types:

First: personal loans

Which are the loans obtained by the individual in return for providing data to the bank indicates the ability of the person to repay the loan, and personal loan is the most common types of loans and use among customers.
A personal loan can be obtained by guaranteeing the individual's salary or by securing title to a property, land or other assets. This confirms the bank's ability to repay the loan and guarantees the right of the bank to recover in the event of a bad situation and the customer can not repay the loan on time.
Personal loans are very important. They provide quick solutions to many family or personal crises that can be experienced by the individual, but the most important drawbacks are the benefits that the bank calculates above the original loan amount.
Loan interest is calculated through a set of rules and regulations that the Bank agrees with the client prior to delivery of the loan, such as the fixed and variable interest concept, interest rate, multiplication and grace period for the loan.

Second, bank cards "debt card"

A credit card is one type of credit card. These cards can be used by anyone with a bank account. This card is a form of loan that allows you to pay in case you do not have money in your account.
However, once you have shipped the money or refilled the account once again, you withdraw the borrowed money as well as a high interest rate on that amount.
The benefits of cards are the worst. They are double the benefits of regular bank loans, and they double over time.

Third: Mortgage loans

We have talked before about mortgages, which are loans given to the citizen in the case of the desire to buy a home for him. This house may be fully equipped, or still need equipment, or even a piece of land.
This is the property you purchased until you pay the last installment of the loan you received, and the terms for the mortgage vary from one bank to another.

As for the best personal loan bank in Saudi Arabia I read the following.

Best personal loans bank in Saudi Arabia.

Getting a personal loan may be the ideal solution for many problems, but you should be careful to choose the best banks to get this loan at the best rate of interest.
Here's a list of the best banks in Saudi Arabia for a personal loan:

SABB Bank

  • SABB provides a good choice for personal loan seekers in the Kingdom. You can get a loan to plan a marriage, get a vacation or even wish things in less than 24 hours.
  • You may be able to get a loan of up to SAR 1,500,000 if you are in compliance with the terms.
  • The loan is amortized over a period of more than five years, ie about 60 months.
  • To obtain this loan, the minimum salary for the customer must be SR 3,000.
  • The client must be at least 21 years old and not more than 58 years old.
  • The fixed ratio of the loan is 3.12%, while the decreasing ratio is 5.62%

Alawal Bank

  •  First Bank offers a personal loan of up to SR 1,500,000.
  • Additional funding can be obtained after payment of 20% of the loan amount.
  • Payment is made for up to 5 years.
  • Premiums can be postponed for the first six months.
  • The salary of the customer must be transferred to First Bank and the salary shall not be less than SR 3,000.
  • The fixed ratio is 3.79% and the decreasing rate is 2.5%

Riyad Bank

  • Riyad Bank is an opportunity for personal loan seekers. It provides personal loans to pensioners up to the age of 70.
  • Provides special programs for employees in various governmental and private sectors.
  • Customer's salary must not be less than SR 3,000.
  • Offers an opportunity to borrow for non-Saudis and residents in the Kingdom.
  • Riyad Bank does not require the transfer of the customer's salary to the bank.
  • The fixed ratio of the loan is 1.32%, either the decreasing percentage is 2.58%

Best Personal Loan Banks in UAE

Samba Bank

  •  Samba Bank offers a personal finance opportunity of AED 125,000.
  • The fixed ratio of the loan is 14.33% and the decreasing rate is 26%
  • There is no guarantee required to obtain this loan and the bank does not require the transfer of salary.
  • Early repayment fees and administrative fees for this loan shall not exceed 1%
  • The repayment period may extend up to 48 months.
  • The minimum wage for the individual is required to be AED 1,000.

Ajman Bank

  • The bank offers an opportunity to get a personal loan worth up to AED 300,000.
  • Loan terms are compliant with Islamic Sharia.
  • A loan may be obtained from Ajman Bank provided that the individual's salary is not less than AED 20,000.
  • The fixed rate of the loan is 3.86%, while the decreasing rate is 7%.
  • There is a management fee of 1% on the amount of financing up to a minimum of 500 dirhams and a maximum of 2500 dirhams.
  • Early settlement fees for this loan are only 1%.

Do not forget to check all the conditions and benefits in the loan before you sign the receipt, and you must compare well between the payment fees and the administrative letter imposed on each loan.
Source site "mosoah"

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