Last update on 19/9/2023
| Credit Card | Charges |
|---|---|
Annual fee primary card |
SAR 350* |
|
Annual fee supplementary card |
SAR 50 |
|
Late payment fees |
SAR 100** |
|
Credit card re-issue |
SAR 30 |
|
Cash advance fees: |
|
|
For cash advance up to SAR 5,000 |
SAR 75 |
|
For cash advance greater than SR 5,000 |
3% of the transaction amount and subject of a maximum of SAR 300 |
|
Credit card dispute fee (if wrong dispute) |
SAR 50 |
|
Account of Balance enquiry on ATM |
Free |
|
FX rate |
2.5% |
* No annual fees for the first year, meem Credit Card remains free for life against a minimum spend of SAR 24,000 per annum from the date of the card’s issuance.
If the minimum spends required are not met, annual fees for the subsequent year will be applied.
meem Digital Banking has the right to cancel the Credit Card if not been activated within 90 days.
** The collected late payment fees are paid on your behalf for charity activities as per the guidelines and supervision of the Shari’ah Supervisory Board.
Fees and charges are excluded the VAT.
Terms and conditions apply.
Annual Percentage Rate (APR)
Monthly Profit Rate
Minimum repayment Amount
Months until Balance Repaid
Without fee** 35.71%
2.75%
5%
94 months
**If a customer only makes minimum payments on an initial outstanding principal balance of SAR 10,000/- it will take the customer 8 years to repay in full of a Total profit margin of SAR 9,579/- assuming there is no annual fee and no charges, like late payment fee and no further spending and considering Annual profit margin at the rate of 33%
| Credit Card | Charges |
|---|---|
|
Annual fee primary card |
SAR 500* |
|
Annual fee supplementary card |
SAR 100 |
|
Late payment fees |
SAR 100** |
|
Credit card re-issue |
SAR 30 |
|
Cash advance fees: |
|
|
For cash advance up to SAR 5,000 |
SAR 75 |
|
For cash advance greater than SR 5,000 |
3% of the transaction amount and subject of a maximum of SAR 300 |
|
Credit card dispute fee (if wrong dispute) |
SAR 50 |
|
Account of Balance enquiry on ATM |
Free |
|
FX rate |
2.5% |
* No annual fees for the first year, meem Credit Card remains free for life against a minimum spend of SAR 48,000 per annum from the date of the card’s issuance.
If the minimum spends required are not met, annual fees for the subsequent year will be applied.
meem Digital Banking has the right to cancel the Credit Card if not been activated within 90 days.
** The collected late payment fees are paid on your behalf for charity activities as per the guidelines and supervision of the Shari’ah Supervisory Board.
Fees and charges are excluded the VAT.
Terms and conditions apply.
Annual Percentage Rate (APR)
Monthly Profit Rate
Minimum repayment Amount
Months until Balance Repaid
Without fee* 28.46%
2.25%
5%
81 Months
**If a customer only makes minimum payments on an initial outstanding principal balance of SAR 10,000/- it will take the customer 7 years to repay in full of a Total profit margin of SAR 6,581/- assuming there is no annual fee and no charges, like late payment fee and no further spending and considering Annual profit margin at the rate of 27%
| Credit Card | Charges |
|---|---|
|
Annual fee primary card |
SAR 750* |
|
Annual fee supplementary card |
SAR 150 |
|
Late payment fees |
SAR 100** |
|
Credit card re-issue |
SAR 300 |
|
Cash advance fees: |
|
|
For cash advance up to SAR 5,000 |
SAR 75 |
|
For cash advance greater than SR 5,000 |
3% of the transaction amount and subject of a maximum of SAR 300 |
|
Credit card dispute fee (if wrong dispute) |
SAR 50 |
|
Account of Balance enquiry on ATM |
Free |
|
FX rate |
2.5% |
* No annual fees for the first year, meem Credit Card remains free for life against a minimum spend of SAR 72,000 per annum from the date of the card’s issuance.
If the minimum spends required are not met, annual fees for the subsequent year will be applied.
meem Digital Banking has the right to cancel the Credit Card if not been activated within 90 days.
** The collected late payment fees are paid on your behalf for charity activities as per the guidelines and supervision of the Shari’ah Supervisory Board.
Fees and charges are excluded the VAT.
Terms and conditions apply.
Annual Percentage Rate (APR)
Monthly Profit Rate
Minimum repayment Amount
Months until Balance Repaid
Without fee* 28.46%
2.25%
5%
81 months
**If a customer only makes minimum payments on an initial outstanding principal balance of SAR 10,000/- it will take the customer 7 years to repay in full of a Total profit margin of SAR 6,581/- assuming there is no annual fee and no charges, like late payment fee and no further spending and considering Annual profit margin at the rate of 27%
| Personal Finance (PF) | Charges |
|---|---|
|
Processing Fees for Personal Finance |
1% of the finance amount or 5000 SAR, whichever is less (excluding VAT) |
|
Service charge in case delivering commodity |
SAR 2,000 (excluding VAT) |
|
Late payment fees * |
SAR 250 (excluding VAT) |
* The collected late payment fees are paid on your behalf for charity activities as per the guidelines and supervision of the Shari’ah Supervisory Board.
Management fees
Monthly instalment amount
Annual percentage rate
Maturity in years
Finance amount
500
1010.42
7.86%
5 years
50,000
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.
Management fees
Monthly instalment amount
Annual percentage rate
Maturity in years
Finance amount
3,770
8325.42
11.68%
5 years
377,000
Management fees
Monthly instalment amount
Annual percentage rate
Maturity in years
Finance amount
4,080
8330
8.29%
5 years
408,000
| Home Finance | Charges |
|---|---|
|
Property evaluation & management fees |
1% with a cap of SAR 5,000 maximum |
|
Late payment fees |
SAR 250 |
Property Market Value (SAR)
Loan to value Ratio
Fixed or Variable Rate
Annual Percentage Rate (APR)
Maturity in Years
Payment Type
Monthly Repayment Amount* (SAR)
Early Payment Charges
500,000
90%
Fixed
6.78%
25 Years
Principal and Profit
3,030.00
Profit of future 3 installments
*Annual Percentage Rate & Monthly repayment amount may differ depending on the amount and the maturity period and the prevailing bank rate
Murabaha Deposit
Charges
Early withdrawn charges exceeding 20%
100% of the profit amount will be forfeited from the withdrawn amount
In case of receiving commodity's order
SAR 2,300
Early liquidation charges
Profit amount Forfeited
Minimum Deposit Amount
Deposit tenor
Equivalent annual rate
Number of withdrawals in the first year
Number of withdrawals in the second year
Total Profit
1,000.00
one month
5.14%
Once
Not applicable
SAR 4.28
1,000.00
three months
5.50%
Once
Not applicable
SAR 13.75
1,000.00
one year
5.47%
Once
Not applicable
SAR 54.7
*Given that the deposit is limited to a period of ( three months only )
** As per the bank’s policy, there is no maximum amount for the deposit
** Refer to the fees and charges file
GIB-Saudi Arabia, Commercial registration No. (2052001920) Unified No: (7001399042), licensed by the Saudi Central Bank under number 2007, and operating under the Saudi Central Bank’s control and supervision, unit number 54 – Al Khobar 34721 – 8208 Kingdom of Saudi Arabia.
Local Tel.: 8001166336, International Tel.: +966920026336
Credit cards
Personal Finance
