Our debt transfer product is built to fit your needs. Quick, simple and transparent, with an easy online application process you can get more for less with meem.

We simply review your current debt, consolidate it and offer you the most competitive profit rate if you transfer it to us!

Get more for less with meem.

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Get more for less with meem

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Customer Eligibility
and Other conditions

Product Buyout


Salary Credit in meem by GIB

Salary assignment mandatory

OnePack a/c held


Minimum age at commencement 

18 Years

Maximum Age at maturity 

60 Years

Minimum salary (SAR)

Starting from: 4,000

Whitelist employer

Not Necessarily

Maximum finance Amount (SAR)

Up to 1,500,000

Minimum current employment period (Govt sector)

1 Month

Minimum current employment period (Private sector)

Employer classes A, B&C: 6 months

End of service


Minimum existing SIMAH history

No minimum existing SIMAH history

Maximum tenor (months)


Debt Burden Ratio (DBR)  

0.3333 %

Documentation required:

Recent no-objection letter of no less than 10 days to transfer the finance (including finance amount and other bank's IBAN number).

Salary letter

3-month statement on the bank's letterhead including last 3 salaries

Payslips of the last 3 months


Management fees

Monthly installment amount

Annual Percentage Rate

Maturity in years

Finance amount

4,080 SAR

8330 SAR


5 Years

408,000 SAR

The above table is an example and the Annual Percentage Rate (APR) may vary according to the amount, maturity period and credit score of each customer.



Monthly Income

Note: This calculation is approximate and not final

There is no hidden cost or surprises. With our real time calculator you can know all you need about the plan you have chosen.


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Percentage Rate (APR)


Frequently asked questions

What is meem Buyout (debt transfer) product?

meem Buyout (debt transfer) facility, offers customers the opportunity to transfer their existing Personal Finance financial debts to meem with better rates

Is meem buyout (debt transfer) product Shariah compliant?

Yes, all meem products are 100% Shariah compliant. meem buyout (debt transfer) product is based on the principles of Murabaha, for more information call 8001166336

Do I need to visit a meem store to apply for meem buyout (debt transfer) product?

No, our aim is to make your life easier. With meem, you can apply and receive your finance digitally through our app

What is the minimum salary to be eligible to apply for meem Buyout (debt transfer) product?

The eligible income starts from SAR 4,000 depending on customer profile and employer classification

How can I calculate my finance amount?

An estimate amount can be checked through the online finance calculator on meem's website 

What are the required documents to apply for Buyout (debt transfer)?
  • A no-objection letter dated no less than 10 days from the date of your application agreeing to transfer your existing finance amount to meem. The letter must also include the existing bank’s IBAN number.
  • Salary letter
  • 3-months’ validated account statement on your current bank’s letterhead including your last 3 salaries
  • Salary payslips of the last 3 months
How long does it take for the Personal Finance amount to be deposited in my account?

We offer 24-hour disbursement if all your documentation is submitted and complete, and your salary has been assigned to meem.

Download the app to get started

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