Saudi Social Development Bank seeks to provide innovative financial products that meet the needs of individuals and families, contribute to improving the quality of life and improving financial stability.
As part of its continuous efforts to support social and economic development, the Bank provides a variety of loans to empower various groups and help them achieve their ambitions.
Freelancing
The Social Development Bank provides cash financing within self-employment support programs, targeting citizens who are able to work and want to increase their monthly income, and this program includes workers in the distribution sector through specialized crafts and electronic applications.
The Bank provides financing of up to SAR 120,000, with an easy repayment period of up to 40 months from the value of the financing, with low administrative fees not exceeding SAR 9,000.
Supporting low-income families
To help low-income families cope with the burdens of life, the Bank provides financial assistance ranging from SAR 18,000 to SAR 100,000, with a repayment period of up to 4 years, with full exemption from administrative fees.
The program aims to help families meet their basic needs and achieve financial stability.
Seasonal Finance
The Bank has dedicated its Seasonal Finance program to support individuals during seasonal periods such as Hajj and Umrah.
The program provides access to financing of up to SAR 30,000, repayable over up to 18 months, with a nominal administrative fee not exceeding SAR 2,000, in addition to the possibility of exemption from payment in the event of death in accordance with the terms of the insurance policy.
Financing for productive families
In support of small projects and productive families, the Social Development Bank offers an indirect financing program with financing of up to SAR 50,000 through accredited intermediaries.
The program allows for repayment of the financing in convenient installments over a period of 36 months, with the possibility of obtaining additional financing upon repayment of half of the initial financing amount. The program covers more than 120 economic activities to support entrepreneurship and enterprise development.
