Cash Loan

Social Development Bank

An electronic service provided by the Social Development Bank as part of the freelance financing programs. This loan is available to Saudi citizens who are capable of working but have not been able to secure a job, those looking to enhance their monthly income through a specialized skill or craft, or individuals interested in working in the delivery sector via electronic applications. Customers can benefit from financing of up to 120,000 SAR, to be repaid under flexible terms, with administrative fees not exceeding 9,000 SAR (deducted from the loan amount). Additionally, they can take advantage of financial incentives available through registration in the Freelance Work Incentives Program. This product features a fully digital application process, eliminating the need to visit the banks branches.

Service Level Agreement

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Enter through the national unified access portal
From the main menu, choose Add a new request, then Request a new financing
From the list of programs, click on the Submit icon in the Free Age Products option
From the list of freelance products, click on the Submit icon for cash financing
If you choose cash financing, choose the product type from the product list
On the page requesting a new financing, you agree to read all the pledges and choose the branch
On the application registration page, the freelance work document data is entered and attachments are added
On the application registration page, the data is filled out and the customer data available in Yaqeen is recalled if the customer is an employee
On the application registration page, the profession data is filled out and the client data available in Yaqeen is called if the client is an employee
If there is a sponsor, the sponsor’s work information must be filled out
(If there is a direct connection between the bank and the employer, the data will be automatically recalled)
The appropriate slide is selected for the client and presented
On service
It is possible to modify the financing data and complete the application later from the options bar and choose the financing data option
Financing data can be amended and completed
Order later from the options bar and choose an option
Reports and printing
The required documents are uploaded and then click on the Save icon
If the documents are complete, click on the Approval All Files icon
The application journey has been completed and the customer is shown the application number and expected processing period

Applicant's age from 18 to 65 years
The monthly income of the financing applicant must not exceed 20 thousand riyals
The existence of a freelance work document through FreeLance Portal/ license proving this.
Having a self-employment bank account linked to the self-employment document applied for
The customer must provide one of the guarantees acceptable to the bank
Integrity of credit history

Government Employee / Government-Owned Company Employee:
Copy of the National ID.
Salary certificate.
Bank statement for the last three months.
Freelance Work Document or Professional Practice License.
IBAN bank account number for freelance work (linked to the submitted Freelance Work Document).

Private Sector / Non-Profit Sector Employee:
Copy of the National ID.
Salary certificate.
Bank statement for the last three months.
Employment Duration and Wage Certificate from the General Organization for Social Insurance (GOSI).
Freelance Work Document or Professional Practice License.
IBAN bank account number for freelance work (linked to the submitted Freelance Work Document).
Submission of a personal guarantee.
Guarantor’s required documents.

Self-Employed / Student / Homemaker:
Copy of the National ID.
Freelance Work Document or Professional Practice License.
IBAN bank account number for freelance work (linked to the submitted Freelance Work Document).
Submission of a personal guarantee.
Guarantor’s required documents.

Retiree
Copy of the National ID.
Retirement salary certificate from the General Organization for Social Insurance (GOSI) website.
Freelance Work Document or Professional Practice License.
IBAN bank account number for freelance work (linked to the submitted Freelance Work Document).
Submission of a personal guarantee.
Guarantor’s required documents (if a guarantor is required).