Balance your life with Wazen!

Balance your life and free your mind!

How many of us decided to save money every month and ended up not doing it? We remember to save one month and we forget to do it the other, and we feel guilty when we spend.

We present you Wazen, a new auto-save program... an innovative service that will help you save with less effort to be able to realize your goal. With Wazen you can balance between your spends and savings because the program will deduct an amount to save with every transaction, and all your savings will be automatically transferred at the end of the day to Wazen savings account on Riyad Online!

Wazen program allows the customer to balance between the spends and the savings to enable him to reach a specific financial goal. With Wazen , the system will convert the determined percentage by the customer in the current account to the saving account when conducting the following transactions:

  • Point of sale purchases
  • ATM withdrawal
  • Credit card payment
  • Bill payment

You can also save when you do the following deposits:

  • Salary deposit
  • Incoming transfers
  • Deposits from stock dividends

All the customer has to do is determine the desired percentage that will be automatically calculated upon any pre-set withdrawal or deposit. The amounts will be transferred directly to the saving account. In addition, the customer can change the percentage and transaction type at any time.

How are profits calculated?

Amount Customer ratio per year
From 0 to SAR 19,999 0.00%
SAR 20,000 and above 0.30%

For Saving Accounts APR disclosure, click here

Why Wazen?

  1. Helps you manage your finances and balances your spends and savings
  2. You can join and open a savings account automatically thru Riyad Online without the need to visit a branch
  3. You can choose specific settings and saving options according to your spends 
  4. Provides a choice of saving with returns which gives you the ability to easily save and invest via Wazen (sharia complaint product)
  5. You can stop and restart the program any time
  6. You can access your savings whenever needed and transfer funds to your current account
  7. The program can transfer a certain percentage (you set) from deposits made in your current account to Wazen savings account

How to Apply:

All you need to do is:

  1. Log on to Riyad Online 
  2. From the main menu choose “apply online” 
  3. Choose “Wazen program” then Click on “create new wazen program”
  4. Choose “start saving now”
  5. Select  the account for Wazen enrollment 
  6. If you prefer saving with return, choose “Saving account with income”, if not then choose without return and click next
  7. Define your goal and complete all the necessary information    
  8. Specify the percentage  for each type of transaction and click “start now”

Hurry and apply for Wazen by clicking here!

To learn about the steps, please click here and watch the video.

Frequently Asked Questions :

What is Wazen?
How does it work?
What is the list of goals (purposes)?
What are the requirements to join the program?
Why Wazen?
Do I have to visit the branch to subscribe to Wazen?
What are the transactions that Wazen covers? How do I do the settings?
Can I stop Wazen anytime?
What if I needed to withdraw the savings for an emergency?
Are there any fees to join?
What are the advantages of Wazen?