Nabad, 11 June 2025: The Saudi Central Bank introduced a micro-loan product offering up to SAR 20,000, repayable over three years with fixed instalments.

This financing option is designed for individuals who need quick access to funds without the burden of high monthly payments. The product does not require a salary transfer or a guarantor, making it accessible to a broader audience, including retirees.

The financing option is available to both Saudi citizens and residents, provided they are employed with a minimum salary of SAR 3,500. Applicants must be between 22 and 60 years old and have a good credit history. Retirees can also apply, subject to retirement age criteria. The required documents include a valid national ID or residency permit, a salary certificate from the employer, and a recent bank statement for the last three months.

The decision to offer this financing option impacts individuals seeking financial assistance without the complexities of traditional loans. It provides a flexible and accessible solution for those in need of immediate funds.

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