Financing And Savings Products

Last update on 17/1/2024

Credit Cards

Platinum And MRSOOL Credit Cards

Fees & Charges

 

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.

Illustration:

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%

Annual Precentage Rate (APR)

SAR

Salary Used for Assessment

SAR

Total Credit Cards limit *

SAR

Total Monthly Installments **

* Sum of total limit of your credit cards

** All installments other than home finance

Calculate

Start over

Profit

Rate

2.75%

Annual

Charge

SAR 350

Tenor

12MONTHS

Minimum

Monthly Amount Due

5%

Credit Limit

SAR -----

Credit Card Annual

Percentage Rate (APR)

----%

- Credit Card APR is based on rough estimate.

- If there is no annual fee associated to your Credit Card the APR will be furthered reduced.

- This calculation is subject to change depending on the influencing factors such as consumer’s credit records.

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Signature Credit Card

Fees & Charges

 

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.

Illustration:

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%

Annual Precentage Rate (Infinite)

SAR

Salary Used for Assessment

SAR

Total Credit Cards limit *

SAR

Total Monthly Installments **

* Sum of total limit of your credit cards

** All installments other than home finance

Calculate

Start over

Profit

Rate

2.25%

Annual

Charge

SAR 750

Tenor

12MONTHS

Minimum

Monthly Amount Due

5%

Credit Limit

SAR -----

Credit Card Annual

Percentage Rate (APR)

----%

- Credit Card APR is based on rough estimate.

- If there is no annual fee associated to your Credit Card the APR will be furthered reduced.

- This calculation is subject to change depending on the influencing factors such as consumer’s credit records.

Apply Now

Infinite Credit Card

Fees & Charges

 

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.

Illustration:

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%

Annual Precentage Rate (Signature)

SAR

Salary Used for Assessment

SAR

Total Credit Cards limit *

SAR

Total Monthly Installments **

* Sum of total limit of your credit cards

** All installments other than home finance

Calculate

Start over

Profit

Rate

2.25%

Annual

Charge

SAR 500

Tenor

12MONTHS

Minimum

Monthly Amount Due

5%

Credit Limit

SAR -----

Credit Card Annual

Percentage Rate (APR)

----%

- Credit Card APR is based on rough estimate.

- If there is no annual fee associated to your Credit Card the APR will be furthered reduced.

- This calculation is subject to change depending on the influencing factors such as consumer’s credit records.

Apply Now

meem Finance

Personal finance

Fees & Charges

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.

Illustration:

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.

Personal Finance
Calculator

SAR

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.

Calculate

Start over

Finance

Amount

SAR - - -

Monthly

Payment

SAR - - -

Total

Amount

SAR - - -

Percentage Rate (APR)

----%

No Salary Transfer

Illustration:

Management fees

Monthly instalment amount

Annual percentage rate

Maturity in years

Finance amount

3,770

8325.42

11.68%

5 years

377,000

No Salary Transfer
Calculator

SAR

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.

Calculate

Start over

Finance

Amount

SAR - - -

Monthly

Payment

SAR - - -

Total

Amount

SAR - - -

Percentage Rate (APR)

----%

Buyout

Illustration:

Management fees

Monthly instalment amount

Annual percentage rate

Maturity in years

Finance amount

4,080

8330

8.29%

5 years

408,000

Buyout
Calculator

SAR

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.

Calculate

Start over

Finance

Amount

SAR - - -

Monthly

Payment

SAR - - -

Total

Amount

SAR - - -

Percentage Rate (APR)

----%

Home Finance

Fees & Charges

Home Finance Charges

Property evaluation & management fees

1% with a cap of SAR 5,000 maximum

Late payment fees

SAR 250

Illustration:

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

Home Finance
Calculator

SAR

Property Value

SAR

Monthly Income

MONTHS

Finance Tenure

Note: This calculation is approximate and not final

Calculate

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Finance

Amount

SAR - - -

Monthly

Payment

SAR - - -

Total

Amount

With Profit

SAR - - -

Fees

(incl. valuation cost)

SAR - - -

Annual

Percentage

- - -%

Murabaha Deposit

Fees and charges

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

Illustration:

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

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