Recently, many citizens are looking for bank loans to improve their social situation, provide for family and personal needs, as well as improve the level of income. Therefore, the Social Development Bank offers loans to unemployed youth, as well as widowed women and housewives, loans without guarantee, as well as this financing complies with Sharia regulations. And through this article, we will learn about the conditions and steps for obtaining a youth loan.
Conditions for obtaining a youth loan from the Social Development Bank in the Kingdom of Saudi Arabia
- The first condition: the age is between 18 and 60 years, in order for the applicant to be able to obtain a loan application from the Social Development Bank.
- Second condition: The applicant’s nationality must be Saudi in order to approve the application for a loan from the Development Bank.
- The third condition: SR 12,500 income for all family members to obtain the bank loan application.
- Fourth condition: The monthly income of the individual does not exceed 200 Saudi riyals.
- Fifth condition: The loan repayment period is only 60 months.
How to apply for a youth loan from the Development Bank inside the Kingdom
The applicant must follow some steps to obtain a youth loan from the Development Bank in the Kingdom, which are the following:
- The first step is to access the official website of the Social Development Bank.
- The second step is to login to the site.
- The third step is to choose the financing of the marriage and click on it.
- Fourth step: Enter all required personal data, full name and mobile phone number to the latter.
- Fifth step, you must make sure that the data entered by the applicant is correct, then click on submit data.