Minimum Balance Required Annual Return Features
The Saudi Investment Bank - Saving Account The Saudi Investment Bank - Saving Account Minimum Balance Required: SAR 1,000 Annual Return: 0% Features: Multiple Currencies, Free Cheque Book, Bank Statement, Free Monthly Statements
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This is a conventional banking product available only at our Regional Head Office branches in Khobar, Jeddah, Jubail and Riyadh 
  Features & Benefits:
  • Deposits in foreign currency notes are accepted subject to prior arrangement
  • Free Debit card with SPAN, GCC Net and Maestro capabilities for ATM withdrawals and Point of Sale transactions within the Kingdom and abroad
  • This is a conventional banking product
  • Foreign currency (notes) withdrawals are subject to 0.25% commission.
  • Interest accrues on a daily basis and is credited to the account at half-yearly intervals
  • Free access to your account through multiple channels
Eligibility:
  • Age:
    • 18 years
    • 15 years for Saudis holding a valid ID card
  • Nationality:
    • Saudis
    • GCC citizens with valid passport, or national identity card (applicable only to citizens of Bahrain, Oman, Qatar and UAE), and proof of address in the Kingdom (evidenced by a utility bill, house rental contract, real estate title deed, or a letter from a Saudi citizen attesting to the GCC citizen’s address) along with their home country address
    • Non-Saudis (and Non-GCC) holding a valid residency permit (Iqama)
Documents Required:
  • A filled out SAIB account opening application booklet
  • Valid identity document
Fees & Charges:
  • Your mada Debit Card from The Saudi Investment Bank, PIN and cheque book will be available within the following 2 business days
  • The entire process of opening an account will take no more than 30 minutes at any of our Branches. Your account identification card indicating the SAIB account number will be issued immediately