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How long does a family loan take? Where Saudi citizens are interested in knowing the time taken to obtain a family loan provided by the Social Development Bank with the aim of improving the economic conditions of families with limited income, and this comes amid the Kingdom’s endeavor to raise the standard of living for citizens and achieve Vision 2030, and the following will show you the family loan reference site how long it takes In addition to all the information related to the family loan, the conditions that must be met by the applicant, how to obtain it and many other important information.

Family loan from the credit bank

The family loan is one of the loans provided by the Credit Bank, which was launched with the aim of financing family needs by providing targeted, effective and positive social loans. This is to alleviate the burden of Saudi citizens from low-income families, and the division of the financing amounts to a maximum of 60,000 riyals, provided that the value is determined according to the needs of the applicant and the possibility of payment. It is worth noting that the first strategic objective of the Social Development Bank; It is the eradication of poverty in all its forms everywhere in the Kingdom of Saudi Arabia.[1]

How long does a family loan take?

The Social Development Bank announced that the time taken to obtain family loan financing is ten working days, in order to complete and finalize the procedures for the service to obtain support.

Target groups in the family loan Credit Bank

The family loan in the Kingdom of Saudi Arabia targets male and female citizens in the Kingdom of Saudi Arabia from employees in the public and private sectors, the retired employee, the offender or student, the divorced, widowed and abandoned women. The conditions for each category have been approved, as the conditions differ from one person to another, and from one category to another.

Family loan terms Credit Bank 1443

The Social Development Bank stipulated a number of general conditions that must be met by the applicant for the family loan, and these conditions are as follows:

• The age of the borrower should not exceed 70 years and the guarantor is 55 years old.
• The monthly income should not exceed 12,500 Saudi riyals.
• The per capita income of the family should not exceed 3000 Saudi riyals, provided that the per capita share is calculated by dividing the monthly income of the head of the family by the number of individuals.
• Children are counted as family members if they are not over twenty-four years old, and unless they are employed or married.
• A woman has the right to apply for family financing if she is divorced or widowed and supports one or more children.
• The maximum financing limit is 30 thousand Saudi riyals; If the applicant is over 60 years old and less than 65 years old.
• The maximum financing limit is 18,000 Saudi riyals; If the beneficiary is over 65 years old and less than 70 years old.

Read also: Conditions for a car loan from the Social Development Bank 1443

Conditions for applying for a government employee for family finance

The following conditions must be met for a government employee to obtain family finance from the credit bank, as follows:

• The mail delivery form contains the name and signature of the customer and the name, signature and stamp of the Saudi Post employee.
• Customer ID photo.
• Family record photo.
• The original form 104 filled out electronically and printed from the applicant’s account on the bank’s electronic application portal.
  • All necessary signatures must be completed and sealed with the official seal from the employee’s employer authorized for the discount, provided that the approval date does not exceed 60 days.
• Submit the original IBAN account number on the bank’s official paper and certified by the bank’s seal.
• Submit a statement of account for the last 3 salaries preceding the date of approving Form 104 on the bank’s official paper and certified by the bank’s seal.
• My valid customer data permit from the Ministry of Interior website.
• My data permit for dependent children is valid:
  • Males: 18-24 years old.
  • Females aged 18 and over.

Conditions for applying for a private sector employee for family finance

The conditions for applying for a private sector employee to finance the family are as follows:

• The mail delivery form has the name and signature of the customer and the name, signature and stamp of the Saudi Post employee.
• Customer ID photo.
• Family record photo.
• A copy of the sponsor’s ID.
• Submit the original electronically filled out and printed Form 105 from the applicant’s account on the bank’s electronic application portal.
  • Complete all necessary signatures, provided that they are stamped with the official seal from the employee’s employer approved for the discount, and the approval date does not exceed 60 days.
• Submit an original detailed salary definition for the client signed and stamped by the client’s employer and certified by the Chamber of Commerce, provided that the date of signature does not exceed 60 days.
• Submit an original detailed salary identification of the sponsor signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature.
• Submitting a certificate of subscriber terms and wages from the customer’s social security website, not exceeding 60 days from the date of issuance to the customer.
• The original IBAN number on the bank’s official paper and certified by the bank’s seal.
• Submit my data permit for the client, and the sponsor is valid from the Ministry of Interior website.
• My data permit for dependent children is valid:
  • Males: 18-24 years old.
  • Females aged 18 and over.

Conditions for applying for a government pensioner to finance the family

The following conditions must be met to obtain a family finance application for a government retiree, which are as follows:

• The mail delivery form has the name and signature of the customer and the name, signature and stamp of the Saudi Post employee.
• Customer ID photo.
• Family record photo.
• The original IBAN number on the bank’s official paper and certified by the bank’s seal.
• Acknowledgment and Authorization Form for Retirees (106)
• An original statement of account for the last 3 salaries prior to the date of approving Form 104 on the bank’s official paper and certified by the bank’s seal.
• My data permit for the customer from the Ministry of Interior website is valid.
• My data permit for dependent children is valid:
  • Males: 18-24 years old.
  • Females aged 18 and over.

Read also: How to apply for a self-employment loan from the Social Development Bank 1443

Conditions for applying for a housewife to finance the family

A woman who does not work in any of the working sectors must fulfill the following conditions to obtain a family finance application:

• The mail delivery form has the name and signature of the customer and the name, signature and stamp of the Saudi Post employee.
• Customer ID photo.
• A copy of the family record in which dependent children are added.
• A copy of the sponsor’s ID.
• The original form 105, filled out electronically and printed from the applicant’s account on the bank’s electronic application portal.
  • Completion of all necessary signatures and sealed with the official seal from the sponsor’s work authority approved for deduction, provided that the date of approval does not exceed 60 days.
• An original detailed salary definition for the sponsor signed and stamped by the sponsor’s employer, not exceeding 60 days from the date of signature.
• The original IBAN number on the bank’s official paper and certified by the bank’s seal.
• My data permit for the client and sponsor from the Ministry of Interior website is valid.
• The original deed of maintenance is directed to the Social Development Bank.
• Birth certificate copies of dependent children.
• My data permit for dependent children is valid:
  • Males: 18-24 years old.
  • Females aged 18 and over.
• Abandoned women only must submit:
  • The original form of the association’s declaration is printed from the bank’s website and must be approved by the nearest branch of the Social Development Bank.
  • The origin of the national identity matching form for the witnesses in the association’s statement, printed from the bank’s website and certified by the nearest branch of the Social Development Bank.

How to get a family loan 1443

The beneficiary can obtain a family loan electronically through the official website of the Social Development Bank and follow the following steps:[2]

• Entering the family finance page directly “from here”.
• Click on the electronic submission.
• Record your ID number and date of birth.
  • The identity and date of birth of the applicant is validated by the citizen’s data contained in the National Information Center.
• In case of conformity, the citizen’s information is obtained from the concerned government agencies.
• Complete the data required to apply for the loan.
• The system sets a date for the citizen to send the required papers by mail.
• The application is processed internally in the bank, and then the loan amount is transferred to the citizen’s bank account.
• The installments are collected through the SADAD system, or by direct deduction from the salary of the government employee through his employer.

Social Development Electronic Application Procedures

The Saudi Development Bank has approved a set of procedures to be followed prior to electronic submission of the financing programs provided by the Bank, as follows:[3]

• before starting to register; The customer must review the terms and obligations of the social financing system to ensure that it complies with the terms of the financing in the bank.
• The client must register his account in the social finance electronic application service, and he will have the ability to apply for one of the following programs: (marriage – family – restoration).
• The sponsor must enter the application portal of the Social Development Bank after submitting the application, and approve the sponsorship request.
• The application will be checked by the service and its status will be determined immediately after registration.
• Please make sure that the mobile number and email registered in the account are correct, as customers will be contacted through them.
• The customer will be notified about the status of his request via mobile messages and his account on the site.
• Customers must frequently log into their account and follow up on the status of their order, as mobile messages may not arrive for any technical reasons.
• If the application is rejected by the branch, the customer can submit a new application again.

Read also: Conditions of the guarantor in the Credit Bank 1443 and the method of inquiring about the guarantor in the Credit Bank

Application forms for family finance

The Development Bank website offers some application forms for obtaining family finance, and they are as follows:

• Form No. (104) pledge from the applicant’s employer: You can download the form “from here”.
• Form No. (105) Personal Sponsorship: It can be downloaded “from here”.
• National Identity Conformity Form: The form can be downloaded from here “from here”.
• Association Declaration Form – Abandoned Loan: “From here”.

Ahl Social Development Bank

It is a program for clients who have previously obtained one of the social financing products (family, restoration, kanaf). Its aim is to support families who have increased family responsibilities. It benefits the government employee, the private sector, the offender, the retired, the widow, the divorced, and the abandoned. The program has a number of features, including:[4]

• Financing up to 60 thousand Saudi riyals.
• Financing without fees or interest.
• 5 years repayment period

Ways to communicate with the Social Development Bank

You can communicate with the Saudi Social Development Bank through many means of communication, most notably the following:

• Social Development Headquarters: You can learn about the branches of social development closest to you “from here”.
• Phone number: You can contact Saudi Social Development customer service representatives via the number 920008002. All days of the week, within 24 hours.
  • Amer service: You can also contact Social Development through the Amer service via the number 199099.
• E-mail: You can contact the bank via the following e-mail: [email protected]. To be answered within one working day.
• Submit an electronic report: An electronic report is submitted “from here” at any time throughout the week, and you will be responded to within 3 full working days.
• Instant Chat: It is possible to communicate directly with customer service representatives directly “from here”.
• Twitter: You can contact the customer care page on the Twitter platform “from here”.

Family loan link Social Development Bank sdb.gov.sa

You can go to the family loan link in the Social Development Bank “from here” and see the conditions for family financing for all the categories provided, and you can also take advantage of them and apply for them electronically through this link, and follow all the above-mentioned steps to obtain financial support easily and effortlessly.

And here we have come to the conclusion of our article in which we explained how long the family loan takes, and mentioned the target groups in the family loan of the Credit Bank, and the conditions for each category for obtaining the family loan, and we moved to explain how to obtain a family loan, and we reviewed the methods of communication with the Development Bank We concluded the article with a link to the Family Loan, the Social Development Bank, for easy access to it and electronic submission of support.