STC Bank has launched ‘Smart Finance’, its first digital, Sharia-compliant financing product, offering customers fast access to funding of up to $13,330 (SAR 50,000), entirely processed online within minutes.
The fully electronic financing solution, Smart Finance is designed to meet the personal financial needs of customers, providing quick access, flexible repayment options, and a streamlined digital application process. The product aligns with Islamic finance principles and can be accessed via the bank’s digital platforms without the need for in-person visits or paperwork.
Smart Finance offers financing amounts ranging from $800 (SAR 3,001) to $13,330 (SAR 50,000). Customers can benefit from repayment periods of up to 24 months, extendable to 36 months, with immediate approval and the flexibility to postpone one installment during the financing period.
These features provided by Smart Finance aim to help customers manage personal financial obligations, improve their living standards, or invest in income-generating projects to enhance their economic stability.
Notably, with Smart Finance, the STC Bank aims to provide banking services and financial solutions that comply with Sharia principles while ensuring the highest levels of security and customer protection using advanced financial technologies.
The launch is also in line with Saudi Arabia’s Vision 2030, which prioritizes digital transformation and financial inclusion. By introducing Smart Finance, STC Bank seeks to expand access to financing for individuals through modern, secure, and ethical banking tools.
With the launch of the new initiative, STC Bank continues to demonstrate its commitment to innovation, financial inclusion, and customer-centric banking. Smart Finance is part of the bank’s broader strategy to empower individuals with accessible financial tools and to support the goals of Vision 2030 by fostering a more digital and inclusive financial ecosystem in Saudi Arabia.
