Zood Saving
Product

It is one of the products of the savings program and targets the clients of the Social Development Bank to help them save monthly sums of money that cover their future needs in the short term through a simplified savings plan, and with easy and fast procedures
Product's Video - with Sign Language

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  • A monthly cash incentive of up to 20%
  • A cash incentive at the end of the program up to 3000 riyals
  • Compatible with Islamic law
  • Full flexibility in savings management
  • Withdrawals and deposits are allowed without any fees.

  • The customer must review the conditions and obligations of the social financing system before starting the registration to ensure that he complies with the lending conditions in the bank.
  • The customer must register his account in the electronic application service for social finance, and he will be able to apply for one of the following types of loans (marriage - family - restoration).
  • Choose to subscribe to the savings product when submitting the application on the Social Development Bank website.
  • After the initial approval, the savings account was opened through one of the partner banks within a period not exceeding 15 days.
  • The customer must ensure that the IBAN number matches the savings account before it is approved on the Social Development Bank website.
  • The customer must verify the status of the savings account and that it is active when transferring the amount of 6,000 riyals.

According to the financing requirements of social loans

Reaches up to 20%
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Target Audience
Citizens
Beneficiaries
 163.9K
Service Fees
Nominal fee
Response Time:
24/7
Submission channels:
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Submission language:
Arabic
User's guide:
 Create Online Account 
 User's Guide
 Sponsor Documentation
Service application start date
    2019  114-200.png    2022   m-icon2.png       
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Internal Strategic Engagement

Zood savings product intersects with the third strategic plan of the Social Development Bank. Encouraging the growth of savings and financial planning.

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International strategic link

Zood savings product intersects with the twelfth goal of the United Nations Sustainable Development Goals. It can be found here

Product Features

Monetary Incentive

Up to 20%

Program Duration
Up to 5 Years

Payment Method
Monthly

Withdrawal and deposit fees

None

Program legality

Compliant with Islamic law 

Customer Journey

Submit Application

Eligibility Check

Processing

Deposit

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Do you have any inquiries? 

If you have any questions regarding the Zood Product, please see the Frequently Asked Questions.

FAQ Contact Us
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3.2 (From 3636 Ratings)
 
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