Riyad Bank has launched a personal financing program for retirees—both current and new customers—who are retirees of the General Organization for Social Insurance and the General Organization for Retirement,  offering them the opportunity to access special personal financing offers with the lowest profit margin and numerous incentives.

Saleh Al-Saif, Head of Products and Services for Retail Banking at Riyad Bank, explained that the bank has established flexible terms for those wishing to take advantage of this campaign, including a minimum monthly salary of 2,000 riyals, and that repayment can be spread over five years (60 months), provided the customer is 70 years old at the time of the final installment.

Al-Saif noted that the bank’s deep understanding of the needs and requirements of each customer segment is behind the launch of these products, emphasizing that those wishing to benefit from the personal financing campaign for retirees will receive immediate preliminary approval, with the option of financing through commodity murabaha or domestic stock murabaha, both of which comply with Sharia law, all accompanied by swift processing.

Al-Saif added: “At Riyad Bank, we have prepared a list of personal financing rates for retirees, secured by salary direct deposit, starting at a minimum of 2,000 riyals and reaching 20,000 riyals or more,” noting that those interested can access all information regarding the details of the marketing campaign launched for this financing product on Riyad Bank’s website or by contacting the sales support representative in their area.

Al-Saif emphasized that the personal financing campaign for retirees is part of a series of exclusive campaigns, offers, and unique benefits that Riyad Bank is committed to providing its customers to enhance the added value of its products and services, and to provide more innovative solutions that offer customers greater flexibility, greater convenience, and more successful financing solutions for their financial and banking transactions.