This program enables Riyad Bank customers to apply for a salary advance as maximum not exceeding 25% of the monthly customer salary deposited at Riyad Bank, after applying the conditions of the service application. The salary advance amount must be fixed throughout the period of the annual subscription.
Features:
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0% profit margin
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Service valid for one year with the possibility of stopping it at any time
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Shariah- compliant
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Get 25% of the monthly salary immediately
An example:
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The customer salary is SAR 8,000
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The salary advance is SAR 2,000
“Ahmed” estimated salary is 8000 SR and in 20th of each month he has zero money in his account, so he decided to go with “Tas’heel Program | Riyad Bank” with 250 SR for one payment to use the advance salary for 12 months, his request is agreed on 2000 SR. In 21th of the month he used 2000 SR to pay the bills and in 25th Ahmed’s salary is been deposit and the system deducted 2000 SR (which is the advance salary Ahmed took in 21th of the month), now Ahmed can benefit from Tasheel next month.
Conditions:
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The age must not be less than 18 years old for Saudis
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The age must not be less than 22 years old for non-Saudis
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The net salary must not be less than SAR 5,000
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The beneficiary must be from RB payroll customers
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The advance amount as maximum is not exceeding 25% of the net salary, as the maximum amount of the advance is SAR 10,000
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The service fees for subscription is SAR 250 ( 50% discount on fees until 31-12-2021) paid only once upon subscription in which the service is valid for a year (12 months)
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The customer must not obtain any other financing product (personal finance, home finance, or auto-leasing) when applying for this service
Note: If the conditions are not met, the service icon will not appear in the digital channels.
You can apply for the service only through Riyad Online or Riyad Mobile