meem Personal Finance

Let's Get Personal. 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 19/9/2023

meem Personal Finance

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.

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Features

meem personal finance is created to be simple, transparent and suitable to our customers' needs.

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Customer Eligibility
and Other Conditions

  Saudi Expatriates
Salary Credited in meem by GIB

Salary assignment is required
No-Salary Tansfer (NST) is also available

Salary assignment mandatory

OnePack a/c held

Yes

Yes

Minimum age at commencement (Years-G)

Starting: 18
Retired: 40

Starting from:18

Maximum Age at Maturity (Years-G)

Starting from: 58
Retired: 70

Starting from:58

Minimum salary (SAR)

Starting from: SAR 4,000
Retired: SAR 1,900

Starting from: SAR 5,000

Minimum current employment period

Starting from: 1 month
Retired: 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

Schedule of 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)

Example of Murabha
financing:

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.

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

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Finance

Amount

SAR - - -

Monthly

Payment

SAR - - -

Total

Amount

SAR - - -

Frequently asked questions

What is meem Personal Finance – Salary Transfer product?

meem Personal Finance – Salary Transfer facility, offers customer the facility to obtain personal finance loan by assigning salary credit to meem.

Is meem Personal Finance – Salary Transfer product Shariah compliant?

Yes, all meem products are 100% Shariah compliant. meem Personal Finance – Salary Transfer product is based on the principles of Murabaha.

Do I need to visit a meem store to apply for meem Personal Finance – Salary 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 Personal Finance – Salary Transfer?

The eligible income starts from SAR 4,000 depending on customer profile and employer classification or SAR 1,900 for retired.

How can I calculate my finance amount?

An estimate amount can be computed trough the online finance calculator on meem’s website.

Download the app to get started

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