/ Social Funding / Family Loan

Last Modified 22 Jun 2023

Family
Loan

Granted for low-income families to help them bear the costs and burdens of life which contributes to maintaining the stability of families and their persistence in the face of crises.

Product's Video - with Sign Language

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The financing ceiling is up to 100,000 riyals (when you did not benefit from a social financing product previously).
Financing period up to 5 years.
Payment method on a monthly basis.
No administrative fees.
Exemption in the event of death or total disability, God forbid, according to the terms of the insurance policy

The age of the borrower should not exceed 70 years and the sponsor 55 years.
The monthly income should not exceed 14,500 riyals.
The number of family members should not be less than two.
The per capita share of family income should not exceed (3000) riyals, and the per capita share is calculated by dividing the monthly income of the head of the family by the number of family members.
A man has the right to apply for family financing if he is married and if he is widowed or divorced, and he is required to support one or more children.
A woman has the right to apply for family financing if she is divorced, widowed, or the abandoned wife, and it is required that she supports one or more children.
The age of the abandoned wife loan applicant should not be less than (30) thirty years, and that the age of her youngest child should not be less than one year, according to the Gregorian date.
- Employees (customers who have income) The calculation is based on the per capita income of the head of the household.
Non-employees (customers who have no income) are calculated based on the number of family members.

Funding limits:

The value of financing available to the beneficiary is calculated based on two determinants according to the employment status.

Conditions for calculating the number of family members:

The son is counted if he is less than twenty-four years old, unless he is employed or married.
The girl is counted unless she is employed or married, regardless of her age.
Children of persons with disabilities are counted without regard to age if they are unmarried and not employed.

Customer ID photo
Family record photo
A copy of the sponsor's ID
A definition of the client's pension from the General Organization for Social Insurance website
A definition of the sponsor’s salary, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
A certificate of duration and wages for a participant from the General Organization for Social Insurance website, the date of its issuance does not exceed 60 days
IBAN account number certified by the commercial bank

Customer ID photo
Family record photo
The IBAN account number on the bank's official paper and certified by the commercial bank
Account statement for the last 3 salaries attested by the Commercial Bank
A certificate of duration and wages for a participant from the General Organization for Social Insurance website, the date of its issuance does not exceed 60 days (if it is subject to the social insurance system)

If the age group is over 60 years old and less than 65 years old, the maximum financing limit is 30 thousand riyals.
If the age group is over 65 years old and less than 70 years old, the maximum financing limit is 18 thousand riyals

Copy of the Client ID.
Copy of the Family Register.
IBAN endorsed by the Commercial Bank.

Copy of the Client ID.
Copy of the Family Register.
Copy of the Guarantor ID.
Client’s detailed salary certificate letter signed and sealed by the Client’s employer, and endorsed by the Chamber of Commerce, where the signature date does not exceed 60 days.
Guarantor’s detailed salary certificate letter signed and sealed by the Guarantor's employer, where the signature date does not exceed 60 days.
Certificate of subscriber terms and wages from the GOSI website for the client, where the issuance date does not exceed 60 days.
IBAN endorsed by the Commercial Bank

Customer ID photo
Family record photo
A copy of the sponsor's ID
A definition of the sponsor’s salary, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
IBAN account number endoursed by the Commercial Bank

Customer ID photo
A copy of the family register with the dependent children added
Detailed salary definition for the client signed and stamped by the client’s employer and certified by the Chamber of Commerce not exceeding 60 days from the date of signature
Detailed salary definition of the sponsor, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
Certificate of duration and joint wages from the social insurance website for the client, the date of its issuance does not exceed 60 days for the client
IBAN account number endoursed by the commercial bank
The maintenance deed is directed to the Social Development Bank
Copies of birth certificates for dependent children
An affidavit form printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for abandoned women only
The form of matching the national identity of the witnesses in the affidavit of the relatives, and it is printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for the abandoned woman only

Customer ID photo.
A copy of the family register with the dependent children added
Detailed salary definition for the client, signed and stamped by the client’s employer, and certified by the Chamber of Commerce, not exceeding 60 days from the date of signature
Certificate of extension and wages of a contributor from the General Organization for Social Insurance, the date of its issuance does not exceed 60 days
IBAN account number endoursed by the Commercial Bank
The maintenance deed is directed to the Social Development Bank
Copies of birth certificates for dependent children
An affidavit form printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for abandoned women only
The form of matching the national identity of the witnesses in the affidavit of the relatives, and it is printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for the abandoned woman only

Customer ID photo
A copy of the family register with the dependent children added
IBAN account number certified by the commercial bank
Account statement for the last 3 salaries certified by the Commercial Bank
Certificate of duration and wages for a participant from the General Organization for Social Insurance website, the date of its issuance does not exceed 60 days (if it is subject to the social security system)
The maintenance deed is directed to the Social Development Bank.
Copies of birth certificates for dependent children
An affidavit form printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for abandoned women only
The form of matching the national identity of the witnesses in the affidavit of the relatives, and it is printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for the abandoned woman only

Customer ID photo
Family record photo
Definition of the pension salary from the Public Pension Agency
IBAN account number certified by the commercial bank
The maintenance deed is directed to the Social Development Bank
Copies of birth certificates for dependent children
An affidavit form printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for abandoned women only.
The form of matching the national identity of the witnesses in the affidavit of the relatives, and it is printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for the abandoned woman only

Customer ID photo
Family record photo
A copy of the sponsor's ID
A definition of the client's pension from the General Organization for Social Insurance website
A definition of the sponsor’s salary, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
IBAN account number certified by the commercial bank
The maintenance deed is directed to the Social Development Bank.
Copies of birth certificates for dependent children.
The original form of declaration of cohabitation, printed from the bank’s website, and authenticated by the nearest branch of the Social Development Bank for abandoned women only.
The original form of matching the national identity of the witnesses in the affidavit of the relatives, printed from the bank’s website, and authenticated by the nearest branch of the Social Development Bank for the abandoned woman only.

Customer ID photo.
A copy of the family register with the dependent children added
A copy of the sponsor's ID
A detailed salary statement of the sponsor, signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature
IBAN account number certified by the commercial bank
The maintenance deed is directed to the Social Development Bank
Copies of birth certificates for dependent children
An affidavit form printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for abandoned women only
The form of matching the national identity of the witnesses in the affidavit of the relatives, and it is printed from the bank’s website and authenticated by the nearest branch of the Social Development Bank for the abandoned woman only

National Identity
National address
IBAN account number
Mobile registered in Absher

Repayment begins 30 days after receiving the financing amount

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Target Audience

Citizens

Beneficiaries

1.2M

Service Fees

Free

Response Time:

24/7

Submission channels:

Submission language:

Arabic

User's guide:

Create Online Account

User Guide

Sponsorship documentation

Service application start date

2011

2022

Internal Strategic Engagement

Family financing intersects with one of the bank's strategic objectives: providing targeted and effective social financing to serve the beneficiary segments