Sanad Finance

Sanad is a brand of Tasheel Gateway Financing Company, offering micro consumer financing solutions using advanced financial technologies. Sanad is committed to adhering to Islamic Sharia guidelines and operates under the supervision and regulation of the Saudi Central Bank.

The company offers financing solutions and operations that comply with the principles of Islamic Sharia. The Sharia Committee is responsible for reviewing the company's Sharia policies and procedures and issuing timely decisions on referred Sharia-related matters. Specifically, the committee ensures that the company’s financing products comply with the provisions and principles of Islamic Sharia and approves the terms and conditions included in the product manuals, templates, contracts, and other official documents used in the company’s operations.

Minimum and maximum period for repayment:
3 months to 24 months.

Maximum Annual Percentage Rate (APR):
87.99%

Example of a Personal Loan:

Loan principal: SAR 10,000
Loan term: 12 months
Annual Percentage Rate (APR): 89.77%
Administrative fee: SAR 100 (1% of the loan principal)
15% VAT on processing fees: SAR 15
Total interest charged: SAR 3,500
Monthly payment: SAR 1,125
Total loan cost: SAR 13,500
Amount received: SAR 9,885 (Loan principal minus admin fee and VAT: SAR 10,000 – SAR 100 – SAR 15)
Total repayment amount: SAR 13,500