The Social Development Bank offers an Education Financing product aimed at helping individuals cover tuition and educational costs at various levels including university, diplomas, and accredited private and international schools.
This financing helps students continue their academic and professional journeys with flexible financial support.
Product Features
Financing amount up to SAR 100,000.
Flexible repayment period up to 48 months.
Regular and affordable monthly installments.
No administrative fees.
Fully electronic application without branch visits.
Direct transfer of financing amount to the educational institution.
Debt waiver in case of death under the bank’s terms and conditions.
General Finance Conditions
Applicant must be at least 18 years old.
Monthly income should not exceed SAR 14,500.
The educational institution must be accredited by the bank.
Proof of acceptance or continuity of study is required.
Financing is strictly for tuition fees.
Beneficiary Groups Conditions
Government and government company employees: under 70 years old at last installment, salary certificate, and bank statements required.
Private sector employees: under 70 years old at last installment, minimum 1 year service at current job, social insurance wage certificates, and a bank-guarantor if needed.
Retirees: must be under 70 years old, pension certificate, guarantor if required.
Students, dependents, and housewives: guarantor required, proof of acceptance or continuation of studies, complete documents.
Financing Details
Minimum financing amount: SAR 3,000.
Maximum financing amount: SAR 100,000.
Minimum monthly installment: SAR 250.
Maximum monthly installment: SAR 2,084.
Repayment period: up to 48 months.
No administrative fees.
Repayment method: monthly installments.
Disbursement and Entitlement Mechanism
The financing amount is transferred directly to the accredited educational institution.
Academic record or proof of continued study must be submitted for subsequent payments.
If the next installment is not requested within 9 months, only the amount already disbursed will be considered.
Required Documents
For private sector employees: National ID, acceptance or study continuation certificate, tuition fee statement, certified bank IBAN, salary certificate, social insurance wage certificates, guarantor documents if required.
For government and government company employees: National ID, proof of study or acceptance, tuition fee statement, IBAN number, last 3 salary slips, approved salary certificate.
For students, dependents, and housewives: National ID, proof of study or acceptance, tuition fee statement, IBAN number, guarantor documents.
For retirees: National ID, proof of study or acceptance, tuition fee statement, IBAN number, pension certificate, guarantor documents if required.
Beneficiary Groups
Government sector employees.
Employees of government companies.
Private sector employees.
Students.
Retirees.
Dependents and housewives.
Summary
Education financing from the Social Development Bank is a leading financial support solution in Saudi Arabia providing up to SAR 100,000 with flexible repayment over four years and easy electronic procedures to help beneficiaries continue their education and achieve their academic and professional goals.
