A quick personal loan for the unemployed in Saudi Arabia, without a guarantor, on easy terms

In this article, we will learn how to get A quick personal loan for the unemployed in Saudi Arabia, without a guarantor, on easy termsWhere banks in the Kingdom provide a service for obtaining a quick personal loan for the unemployed without a guarantor and on easy terms, whether for citizens or residents on its lands in accordance with the provisions of Islamic Sharia, as a kind of the Kingdom’s keenness to support and assist residents on its lands and provide them with a decent life.

But which bank gives loans without a guarantor? Are there loans for residents of Saudi Arabia? How can one get a personal loan for the unemployed in Saudi Arabia without a guarantor and on easy terms, even if you are in default? This is what we will learn about in the topic of our article today.

Many people want to get a loan, and the loan is one of the most important things in Saudi Arabia, because banks provide personal loans according to certain conditions and various advantages to facilitate repayment and work to reduce the interest rate and other facilitating matters to obtain a loan.

In our article today, let us and you get to know the personal loans and the best ones that do not require the availability of a guarantor. We will also discuss the details of personal loans in the Kingdom of Saudi Arabia, and we will mention to you the conditions and papers required and what are the documents to apply and obtain the loan.

A personal loan for the unemployed without a sponsor in Saudi Arabia

There are many banks and various financing agencies in the Kingdom of Saudi Arabia that offer personal loans without a guarantor, and we will put in your hands loans for the unemployed, which are the best and do not require a guarantor to obtain them.

Abdul Latif Jameel loan for the unemployed:

It is one of the best personal loans in the Kingdom of Saudi Arabia for the unemployed, as it extends a helping hand to them to help them implement their small and medium projects, for details follow the following:

The loan applicant must have a specific project to implement in the city in which he settles.
The applicant must also succeed in the interview that takes place with him.
It is also available to apply for people who do not have a fixed job, and it is available for those who have a job with a monthly income of 25 Saudi riyals.

Unemployed loan Credit Bank

This bank is based on providing social and interest-free loans to all the unemployed and of both sexes who have the ability to work and are allowed to practice certain self-employment for their own account and the details are as follows:

It works to reduce informal credit and works to reduce the unemployment rate by providing them with self-employment opportunities.
And submit a document for self-employment through the platform for self-employment and provide licenses for that.
The applicant for the loan must not have debts from the Social Development Bank with another loan.
The loan application is submitted through the official website of the Credit Bank.

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Personal loan without a guarantor in Saudi Arabia

Many banks in the Kingdom of Saudi Arabia offer personal loans without asking the applicant to bring a guarantor, and these banks work to compete to provide the best benefits, and we will discuss the best personal loans.

Personal loan in installments, Al Ahli Bank:

The bank works to provide loans to residents within the Kingdom of Saudi Arabia, and it also provides many advantages, for example, the rapid approval of the loan application and the deposit of the loan value in the personal account of the applicant as soon as he fulfills the conditions and submits his required papers, and the loan details are as follows:

The coffee grants a grace period for the loan up to five years.
What gives the borrower early repayment.
The loan is also compatible with the legal provisions of Islam.
The loan is available to workers in the private and public sectors.
The applicant is required to have worked in the private sector for a full year, and for the public sector, the applicant is required to have worked for a period of three months, and this applies to workers in large companies.
The loan applicant must not be less than 23 years old and not more than 60 years old.

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Personal loan by installments investment bank

The investment bank in the Kingdom of Saudi Arabia provides personal loans without the need for a guarantor. It also offers many advantages that would attract people to obtain a personal loan. The investment bank also set many conditions that the loan applicant must fulfill, which are:

The applicant must be at least 23 years old and not more than 60 years old.
The minimum salary transferred to the bank must be eight thousand Saudi riyals, and not more than ten thousand Saudi riyals.
It also allows obtaining more funding in case there is an increase in salaries.
The borrower may be exempted from repaying the loan in the event of death or complete disability.
The repayment period varies up to five years.
The loan complies with Islamic Sharia.
The loan is disbursed to the borrower on the same day of application.

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How to apply for a personal loan in Saudi Arabia

It is available for all people to apply and obtain a personal loan in one way for all banks, as we will give you a brief explanation of the method:

The application for the loan is made through the official website of the bank electronically.
All data is sent to SIMAH Credit Information Company.
The credit history of the business must be reviewed and the credit score should be determined according to the credit rating model through the Saudi Arabian Monetary Agency.
The loan applicant obtains approval by observing the classification of the employer.
The maturity period and the rate allocated to the borrower are calculated, as well as the burden ratio of the indebtedness imposed on him.
The personal loan is calculated by multiplying the value of the monthly installment, which is determined by the specified repayment period, to get to the total value of the loan.
The total loan and the total rate to be paid by the borrower are calculated.

Papers required to obtain a personal loan in Saudi Arabia

All banks that provide personal loans to residents in the Kingdom of Saudi Arabia set conditions for loan applicants to obtain through them, which are:

Provide a postal code for the place of residence.
Providing a statement issued by the bank that the borrower will deal with when the borrower wants to obtain another loan from another bank.
The balances for the obligations of the borrower are presented from the previous bank to the bank through which he wishes to obtain the loan.
He submits a salary statement.
He submits a water, electricity or telephone bill, proof of the place of residence.
It should also not have any due installments.

And here we have come with you to the end of our article today, which talks about the fast personal loan for the unemployed without a sponsor in the Kingdom of Saudi Arabia, we hope you have won your admiration.