Saudi Arabia Increases Marriage loan to 72,000 Riyals (N31M)

Masha Allah the Social Development Bank in Saudi Arabia has raised the marriage loan amount to 72,000 Riyals for Saudi citizens. This loan can be repaid in manageable installments over four years and will be forgiven in the event of the borrower’s death, according to the insurance policy.

Applicants aged 18 to 70 years, Monthly income not exceeding 14,500 Riyals. Designated for first marriages; second marriage loans are available if the first wife has passed away.

A certified marriage certificate is required, and loans will not be approved if more than two years have elapsed since the marriage.

Credit: NewsNG

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