meem Personal Finance – Salary Transfer facility, offers customer the facility to obtain personal finance loan by assigning salary credit to meem.
Simple, transparent, and easy personal finance is designed just for you. Finance your life with meem, and say goodbye to confusing terms and hidden fees. Get it all by tapping your mobile.
Last update on 19/03/2024
Switch on to meem Personal Finance. Personal finance is easy with meem. Simply apply and get your financing via your mobile, its never been easier.
meem personal finance is created to be simple, transparent and suitable to our customers' needs.
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100% digital and Shariah compliant product including e-Signatory and e-Promissory notes
Competitive rates across all segments
Financing up to SAR 1.5 million
Up to 60 months repayment period
Top-up option available
Buyout (debt transfer) option available
| Saudi | Expatriates | |
|---|---|---|
| Salary Credited in meem by GIB |
Salary assignment is required |
Salary assignment mandatory |
| OnePack a/c held |
Yes |
Yes |
| Minimum age at commencement (Years-G) |
Starting: 18 |
Starting from:18 |
| Maximum Age at Maturity (Years-G) |
Starting from: 58 |
Starting from:58 |
| Minimum salary (SAR) |
Starting from: SAR 4,000 |
Starting from: SAR 5,000 |
| Minimum current employment period |
Starting from: 1 month |
Starting from: 3 months |
| Minimum Finance Amount (SAR) |
10,000 |
10,000 |
| Maximum Finance Amount (SAR) |
1,500,000 |
500,000 |
| Maximum tenor for loans (months) |
Months 60 |
Months 60 |
| End of service |
N/A |
Covers 100 % from the Personal Finance |
| Debt Burden Ratio (DBR) | ||
| Employed |
0.333 |
0.333 |
| Retired |
0.25 |
N/A |
| Minimum existing SIMAH history |
No minimum existing SIMAH history |
No minimum existing SIMAH history |
| 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) |
Management fees
Monthly installment amount
Annual Percentage Rate
Maturity in years
Finance amount
500 SAR
1010.42 SAR
7.86%
5 Years
50,000 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.
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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meem Personal Finance – Salary Transfer facility, offers customer the facility to obtain personal finance loan by assigning salary credit to meem.
Yes, all meem products are 100% Shariah compliant. meem Personal Finance – Salary Transfer product is based on the principles of Murabaha.
No, our aim is to make your life easier. With meem, you can apply and receive your finance digitally through our app.
The eligible income starts from SAR 4,000 depending on customer profile and employer classification or SAR 1,900 for retired.
An estimate amount can be computed trough the online finance calculator on meem’s website.
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
