Saudi Credit Bank (SCB) announced plans to expand its loan facilities to cover all segments of society including civil servants and citizens working in the private sector, according to sources. Interest-free loans will be extended to those having three dependants and earning a monthly salary of SR5,000, those having four dependants and earning SR5,600 a month, those earning SR6,000 a month and having five dependants, those having six dependants and earning SR6,800 and those with 12 dependants and earning SR10,000 a month. The borrowers should not be under 30 years of age. The bank will extend soft loans ranging from SR20,000 to SR30,000 to borrowers, who must state in their applications the purpose for which they need the loan. Loans must be repaid on monthly installments in five years. The SCB was established on Nov. 10, 1971, to extend interest free loans to Saudi citizens with limited financial resources to help them overcome their financial difficulties. The SCB provides loans for marriage, home repair, vocational pursuits, as well as other social endeavors, including family loans. The bank has 26 branches allover the Kingdom. – Okaz __
