Best Personal Loans & Banking in Saudi Arabia
The financial landscape in Saudi Arabia is moving faster than ever.1 With Vision 2030 in full swing, banks are competing aggressively for your business. This is good news for you. Whether you are a Saudi national or an expat resident, you now have access to record-low profit rates and instant cash approvals.
If you need capital—for a new car, a home renovation, or just to boost your liquidity—choosing the right bank is critical. A wrong choice could cost you thousands in hidden fees. This guide breaks down the top financial products in the Kingdom that offer the best value and the fastest approval times.
Why Saudi Banking is Booming in 2026
The Saudi Central Bank (SAMA) has pushed for a digital revolution.2 Gone are the days of waiting in line with a stack of papers. Today, most Personal Loans and Credit Cards can be approved via a smartphone app in under 15 minutes.
Banks are desperate for new customers, which means they are offering high incentives:
- 0% Profit Rates on short-term financing (Tawarruq).
- Massive Cashback on daily spending (up to 11%).3
- No Guarantor requirements for many expats.
Top 3 Banks for Personal Loans (Comparison)
If you need cash fast, these three banks are currently leading the market. They offer high approval limits and transparent terms.
| Bank Name | Best For | Max Loan Amount | Key Feature |
| Al Rajhi Bank | Instant Approval | SAR 2.5 Million | 30,000 Mokafaa Points Bonus |
| SNB (AlAhli) | Salary Transfer Loans | SAR 1.5 Million | Lowest Profit Margins (from 3.07%) |
| Emirates NBD | Expats & Non-Salary Transfer | SAR 300,000+ | “Loan Without Salary Transfer” option |
1. Instant Personal Finance (Shariah Compliant)
This is the most searched financial product in KSA for a reason. Personal Finance (often called a personal loan) gives you a lump sum of cash to use for anything.
In 2026, Al Rajhi Bank and SNB are the heavy hitters here.
- Speed: If you have your salary transferred to them, you can often get the money deposited into your account in less than 30 minutes via their app.
- Tenure: You can spread payments over 60 months (5 years), making the monthly installment very low.
- Retirees: Special rates are now available for retirees up to 75 years old.
For Expats: Getting a Loan Without a Sponsor
Historically, it was hard for non-Saudis to get loans. That has changed. Banks like Emirates NBD and Riyad Bank now offer specialized Expat Loans.4
- Requirement: Minimum salary of SAR 4,000 – SAR 5,000.
- Documents: Valid Iqama and Salary Certificate.
- No Sponsor: Some products no longer require a Saudi guarantor if you work for an approved company.
2. High Cashback Credit Cards
Stop using your Mada debit card for everything. You are leaving money on the table. The current trend in Saudi Arabia is Cashback Credit Cards.
Top Pick: SNB AlAhli Cashback Premium Card
This card is a powerhouse for daily savers.
- 11% Cashback on Gas Stations (Fuel).5
- 5% Cashback on Dining and Groceries.
- Unlimited Cashback on international spend.
If you spend SAR 2,000 a month on groceries and fuel, this card effectively pays you back SAR 200+.6 It is essentially free money.
Runner Up: Al Rajhi Platinum Cashback Plus
- Offers 10% cashback on dining and supermarkets.
- Includes free access to 25 airport lounges worldwide—perfect for holiday travel.7
3. Digital Wallets and Fintech (STC Pay & Urpay)
If you aren’t using a digital wallet yet, you are missing out on convenience. Apps like STC Pay and Urpay have transformed how people pay in Riyadh and Jeddah.8
- International Transfers: Send money to India, Philippines, or Egypt instantly with fees as low as SAR 5.
- Virtual Cards: Generate a Visa card instantly inside the app for safe online shopping on Amazon SA or Noon.
- Salary Advance: Some wallets now allow you to withdraw a portion of your salary early if you are short on cash before payday.
How to Check Your Eligibility (SIMAH)
Before you apply for any of these high-value products, you must check your SIMAH score.9 This is your credit report in Saudi Arabia.
- Score Range: 300 to 900.
- Good Score: Anything above 650 will get you the best profit rates.
- Tip: Pay your mobile bills and existing loans on time. A single missed payment can drop your score and disqualify you from the best offers.
Ready to Boost Your Finances?
Don’t settle for the first bank you see. The difference between a 3% profit rate and a 6% rate can save you SAR 15,000 over the life of a loan.
- Download the Al Rajhi or SNB Mobile app today.
- Check their “Personal Finance Calculator” to see your limit.
- Apply digitally to avoid branch fees.
Your financial freedom in the Kingdom starts with choosing the right partner. Compare the offers above and lock in a low rate before the central bank adjusts prices again.