How to apply for an instant loan from Nafath up to 120,000 riyals
In the event that a citizen requests a financing product from the Social Development Bank, the unified national platform made available a quick and immediate advance through Nafath with a financing value of up to 120,000 Saudi riyals as a maximum. This was done in order to encourage citizens to engage in self-employment in addition to living a decent life.
Conditions for obtaining an immediate advance from the force
In the event that a person intends to acquire an immediate loan from Nafath, it is required for him to complete all eligibility conditions provided by the bank, which have been established based on the bank's policy. These conditions are as follows: In the event that a citizen wishes to obtain an immediate loan from Nafath, it is necessary for him to fulfill all eligibility conditions set by the bank, which have been established
The presence of a sponsor or guarantor is essential before the financial product may be provided to the unemployed citizen so that they can find work.
The applicant's age must be at least 18 years old at the time of application.
The age of the customer is under or equal to seventy years old.
If the candidate works for a government agency, then the requirement for a sponsor does not apply; nevertheless, this is the only exception to the rule.
If the applicant is employed in any of the industries found within the Kingdom, his monthly salary must be at least 20,000 riyals in order for him to be eligible for financing. This requirement must be met in order for the applicant to be considered.
The consumer is obligated to hold a legitimate national ID and a permanent national address within the Kingdom of Saudi Arabia.
The supply of a self-employment document issued by the Ministry of Human Resources of the Kingdom is another one of the prerequisites that must be satisfied.
Advantages of financing a person from the effect of 120,000 riyals
An instant and swift financing program with a total value of 120,000 riyals has been made available by the unified national access. This program comes with a number of advantages and features, the most notable of which are as follows:
The financing is not in any way in conflict with the stipulations or regulations of Islamic law, as it is compatible with those laws' requirements and limitations.
This immediate commodity was made available to all residents by the Social Development Bank, regardless of whether they were employed or jobless at the time.
Through the permission of the Social Development Bank, the financing was also characterized by certain administrative fees totaling no more than 7,500 Saudi riyals. These fees were special to the financing.
It is also possible to acquire financing without any additional interest, and one of the advantages of the product is that it is granted to workers in government sectors without the necessity for a guarantor. Other advantages include the possibility of obtaining financing without any additional interest.