Top 5 Loan Repayment Companies in Saudi Arabia

The Loan Repayment companies in Saudi Arabia provide the best services to settle the debts of various banks, as they enjoy a high reputation and take the priority of the clients to turn to them when they fail to pay off the debts, and the reason is You must trust these offices because of the honesty they provide when dealing with many of the payment companies. Loans in the Kingdom, and the following is an explanation of your role in paying defaults, a statement from the major debt settlement offices, and a presentation. of all the details about these companies, so follow us. 

Read more: What is Personal Loan in UAE.

loan repayment companies in Saudi Arabia

The Kingdom of Saudi Arabia includes many companies and institutions Loan Repayment and defaulters, in addition to providing financing for projects. These offices and companies include the following:

1- Meshary to repay loans

This company has Repayment branches in all regions of the Kingdom, including Dammam, so it is easy for the client to communicate with them, and they can get a new loan with all the banks and pay the old one, they work to pay off the defaulters. at SIMAH and pay off Samba loans, and they can pay for suspension services in court.

2- The kingdom of payment

To Repayment loans and provide many distinguished services such as:
 

• Loan repayment at the lowest rate.
• Loan repayment.
• Repayment part of the loan.
• Financing up to 22 salaries.
• Repayment the Riyadh loans.
• Repayment off grandma's loans.
  

working hours

• Work daily from eight in the morning until five in the afternoon.
• The Kingdom of Payment for all financial services within the Kingdom, working to pay defaulters in the shortest possible time.
  

3- The foundation of the payers

Providing loan repayment services, solving financial problems, delinquency and financial financing - Providing payment services in all parts of the Kingdom, financing in large quantities and in a fast time according to the provisions of the Islamic Sharia.

A personal finance system without endorsement for the private sector, with the lowest rates of return, and is considered one of the best companies for the amortization of installment debts.

4- Abu Zain Company for financial failures and payment of military debts

It offers the best loan and debt repayment services. Loans and debts are amortized, personal loans are paid to citizens, and military loans of all kinds are paid to all clients with all the different banks and in one integrated system. The company has experience in this field for many years, and enjoys honesty, credibility and achievements in work, and you can get its services Through all regions and cities of the Kingdom, it is always available.

Loan repayment and get a new loan

You can Loan repayment through several methods, including prepayment, which we will review together, as well as obtaining a new loan.

Amounts payable
These amounts due are paid in monthly payments. They are based on the determination of the amounts that the client pays in installments, but not restricted to salary. The amounts are usually equal and the amount is spread over the repayment period, for example: as the repayment of the Al Rajhi loans.

repayment without grace period
Here the bank deals with annual, not monthly installments, and there is no grace period that restricts the matter, and the payment is made on the original value of the loan.

Monthly deduction method
One of the most famous methods of loan repayment, which is done by deducting a fixed monthly amount from the borrower's salary, which ensures credibility between the bank and the borrower, and continues to be deducted until the full value of the loan is completed. loan with interest. There are many methods in this section that relate to the deduction rate and interest.

early repayment
Here, the individual resorts to repaying loans and transferring from one bank to another by taking a new loan from a bank and repaying the old one.

profit sharing
The bank participates in the profits of the projects in whose name the loan is taken, and can take a percentage of the profits or part of the project in its favor. For example, you can get several floors of a building according to the agreement between the two parties.

Penalty for not Loan repayment in Saudi Arabia

A person is said to be in default if he loses the ability to repay what he owes on loans payable to the authorized financing agencies that granted him the loan, and has been late in paying defaulters more than once, exposing the borrower to procedures and sanctions of different degrees and nature depending on various factors, including the circumstances of the client and the value of the loan The delay period. 

Consequences of not Loan repayment

• It becomes difficult for the client to obtain any other loan within a period close to the loan that the client defaulted.
• A measure can be taken to freeze customer balances or seize their bank account in the event that the competent authorities issue decisions and judgments.
• If the loan is subject to collateral, the property will be seized in accordance with regulations and laws.
• The client is subject to the filing of a civil lawsuit by the financing party "the bank" and is then subject to judicial responsibility and legal prosecution of the creditors.