Recurring Deposit Account
Grow your money effortlessly with the Recurring Deposit Account from Banque Saudi Fransi.
The account that allows you to contribute a monthly fixed amount for specific period of time, with annual returns.
Features and advantages:
- Minimum initial deposit of SAR 5,000 and up to SAR 1 million
- Monthly contribution of SAR 500
- The product is offered to individual customers only
- Available in Saudi Riyal only
- Tenor ranges from 1 to 5 years
- The monthly installment will be Gregorian calendars
- Possibility of maintaining multiple Recurring Deposits Accounts
- Returns are paid at the end of the contract with the basic of investment amount
- Access to your account statement through E-channel without performing any financial transaction
Example: 1 year fixed term Recurring deposit account
| Saving account Type | Minimum Initial deposit Amount | Minimum Monthly Contribution | Maturity in years | Annual Equivalent Rate | Number of Withdrawals Permitted in the remaining years |
|---|---|---|---|---|---|
| Recurring deposit account | 5,000 | 500 | 1 | 0.75% | 0 |
Example: 3 year fixed term Recurring deposit account
| Saving account Type | Minimum Initial deposit Amount | Minimum Monthly Contribution | Maturity in years | Annual Equivalent Rate | Number of Withdrawals Permitted in the 1st Year | Number of Withdrawals Permitted in the remaining years |
|---|---|---|---|---|---|---|
| Recurring deposit account | 5,000 | 500 | 3 | 1.85% | 0 | 0 |
Example: 5 years fixed term Recurring deposit account
| Saving account Type | Minimum Initial deposit Amount | Minimum Monthly Contribution | Maturity in years | Annual Equivalent Rate | Number of Withdrawals Permitted in the 1st Year | Number of Withdrawals Permitted in the remaining years |
|---|---|---|---|---|---|---|
| Recurring deposit account | 5,000 | 500 | 5 | 2.50% | 0 | 0 |
The Annual Equivalent Rates mentioned above are an example and changeable
Cash withdrawals are not allowed during the contract’s validity period because the purpose of the account is to save and invest the amount saved according to the specified period
Terms and conditions applied
Requirements:
- Saudi National ID
- Passport
- National ID
Saudi Citizens
GCC Citizens
- Iqama ID
- Copy of passport
