How to Get an Urgent Cash Loan in Saudi Arabia

Although saving money is always a good idea, there may be times when we need to get an urgent cash loan. In cases of emergencies, accidents, and other unexpected events, you might need to visit the bank and inquire about personal loans.

In this article, we will talk about how to apply for urgent cash loans in Saudi Arabia. This involves a discussion on eligibility criteria, requirements, and loan procedures. We have also included a list of banks that offer cash loans to citizens and expats in the Kingdom.

How to Get an Urgent Cash Loan in Saudi Arabia

Guide to Getting an Urgent Cash Loan in Saudi Arabia

In Saudi Arabia, overseas Filipino workers (OFWs) as well as other expats can apply for urgent cash loans. For each bank, the eligibility criteria, requirements, loan amounts, interest rates, and other factors vary.

General Steps

Of course, prior to getting a loan, you should take the time to know the different steps you’ll be taking, as follows:

1. Verify if your employer has an agreement with a bank.

Most companies form agreements with banks, particularly when it comes to opening and maintaining salary accounts for their employees.

One of the first things you can do is to inquire with your company’s HR department if there’s an employee loan agreement with a bank. If the answer is yes, consider applying for a loan, since these type of agreements usually mean that the company’s employees can enjoy lower interest rates.

2. Research different loan options.

Don’t just settle for the first loan product you encounter! Take the time to do some research and learn about the loan products offered by different banks. Should you find a bank where the interest rate is lower compared to your company’s employee loan agreement, then perhaps it would be wise to apply for a loan with that bank.

3. Compare various loan products.

While looking at loan products from different banks, make a list of their similarities and differences. Find out which bank has the lowest interest rates and administrative fees. Ask them about penalties for missed payments, settlement fees, and other matters. This can help you decide which bank — and loan product — fits your needs and preferences.

4. Inquire about salary transfers.

If your salary is already being transferred to an account with the bank where you plan to get a loan, the interest rate is likely to be lower than if you get loans with other banks.


Do you think you qualify for a loan in Saudi Arabia? Here’s a list of eligibility criteria that is common to most banks:

  • Age Range. For most banks in the Kingdom, the minimum age to qualify for a loan is 21 to 23 years old, whereas the maximum age is 60 years old.
  • Length of Service. In most cases, applicants are expected to have worked for at least 1 year with their current company.
  • Salary Transfer. There are banks that require loan applicants to have their monthly salary transferred to an account with them.


When applying for a cash loan, be sure to prepare the following required documents:

  • Duly-filled loan application form
  • Valid IQAMA and Passport (for expats)
  • Salary Slips for the last three (3) months
  • Bank Statement for the last three (3) months
  • Salary Certificate (attested by Chamber of Commerce); and
  • Applicant’s SIMAH Credit Report.

NOTE: In the Kingdom, your Credit Report is issued by the Saudi Credit Bureau, or SIMAH. This is the first and only licensed national credit bureau in the country. It is engaged in the collection and provision of credit information, so that banks can decide whether to approve or to reject a loan application.

Banks Offering Urgent Cash Loans

Below is a list of banks in Saudi Arabia that offer different kinds of cash loans. Let’s take a look at the features of each loan, along with the eligibility and other criteria involved.

1. Banque Saudi Fransi’s Personal Finance

Bank Saudi Fransi’s Personal Finance is offered to Saudis and expats alike. The minimum salary should be SAR 3,500 per month, and salary transfer is required. The maximum loan term is 5 years, with a flat rate of 1.69% and a reducing rate of 3.04%. Borrowers can expect to loan up to SAR 2,500,000.

For Saudi nationals who are government or semi-government employees, the length of service should be at least 3 months. Meanwhile, for expats who are government employees, the length of service should be at least 1 year.

In case of death or permanent disability of the client, his/her legal heirs shall be exempted from paying any outstanding contributions.

2. Riyad Bank’s Tawarruq

Riyad Bank’s Tawarruq is another personal finance option that you can consider. It is offered to both Saudi nationals and expats, along with pensioners and trainees of military sectors and large corporations. The minimum salary of applicants is SAR 3,000 per month, although salary transfer is required. The maximum loan term is 5 years, with a flat rate of 1.32% and a reducing rate of 2.58%.

Notably, through this product, pensioners are given a special package, which allows them to make repayments until the age of 70 years old. Meanwhile in case of death of the client, all outstanding balance shall be waived (for salary transfer financing).

3. Samba’s Personal Finance For Newly Arrived Expatriates

As the name says, this product is offered to newly-arrived expats who need extra help while settling in Saudi Arabia. To qualify, applicants should be at least 23 years old and earning a minimum salary of SAR 5,000 per month. He/She should also be employed for at least one month during the time of application.

This product features loan amounts up to SAR 200,000. The repayment period is 12 months or 1 year.

4. The Saudi Investment Bank’s Expatriates Personal Finance

The Saudi Investment Bank’s Expatriates Personal Finance is offered to expats in Saudi Arabia, ages 23 to 60 years old. Their minimum monthly basic salary should be SAR 8,000 and gross salary must be SAR 10,000. Moreover, they should have been working for at least 1 year with their current employer.

This product has a maximum term of 5 years, and salary transfer is required.


At times when you need extra cash urgently, it’s good to know that there are many options in Saudi Arabia. The fact that the above loans are also available to expats is truly a big help. Nonetheless, interest rates, repayment periods, and other terms vary from bank to bank, so it’s important to do some research beforehand!

Speaking of loans, if you’re a Filipino based in Saudi Arabia, you are probably wondering about your options. Check out this article to learn more about how Pinoys can apply for a loan in this country.