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Zood Saving Product

Social Development Bank

An electronic service offered by the Social Development Bank to help clients save monthly amounts for their short-term future needs. The program provides a simplified savings plan with fast and easy procedures, and eligible clients receive proactive invitations via text messages. The service is fully electronic and does not require visiting bank branches.

Service Level Agreement

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Application procedures for the Zod savings product linked to social financing:
The client must register his account in the electronic application service for social financing, and he will have the ability to apply for one of the following types of loans (marriage - family - restoration) .
Choose to subscribe to the Zod savings product while submitting the application on the Social Development Bank website .
After initial approval, a Zod savings account can be opened through one of the partner banks within a period not exceeding 15 days.
The customer must ensure that the IBAN number matches the Zod savings account before approving it on the Social Development Bank website.
The customer must verify the status of the Zod savings account and that it is active while transferring the amount of 6,000 riyals. If the account is inactive, the amount of 6,000 riyals will be charged. As part of paying the installments of the financing amount.
Procedures for applying for the Zod savings product for productive families:
Log in to the account of the National Platform for Productive Families.
Request the product from the available electronic services.
After initial approval, the beneficiary must open a savings account with one of the partner banks within a period not exceeding 15 days.
The customer must ensure that the IBAN number matches the Zod savings account before approving it on the National Platform for Productive Families website

The applicant must be Saudi
The client must be a beneficiary of social financing, self-employment financing, or a recipient of a productive families document from the National Platform for Productive Families.
The customer does not currently have an active subscription to the Zod Savings Program
The client opens the savings account (Zod) with the partner bank after the financing request is approved and the account number is confirmed on the bank website after 24 hours.

Application procedures for the Zod savings product linked to social financing:
The client must register his account in the electronic application service for social financing, and he will have the ability to apply for one of the following types of loans (marriage - family - restoration) .
Choose to subscribe to the Zod savings product while submitting the application on the Social Development Bank website .
After initial approval, a Zod savings account can be opened through one of the partner banks within a period not exceeding 15 days.
The customer must ensure that the IBAN number matches the Zod savings account before approving it on the Social Development Bank website.
The customer must verify the status of the Zod savings account and that it is active while transferring the amount of 6,000 riyals. If the account is inactive, the amount of 6,000 riyals will be charged. As part of paying the installments of the financing amount.
EProcedures for applying for the Zod savings product for productive families:
Log in to the account of the National Platform for Productive Families.
Request the product from the available electronic services.
After initial approval, the beneficiary must open a savings account with one of the partner banks within a period not exceeding 15 days.
The customer must ensure that the IBAN number matches the Zod savings account before approving it on the National Platform for Productive Families website

General Notes
Please make sure that the mobile number and email address registered in the account are correct, as customers will be contacted through them.
The customer will be informed of the status of his order via mobile messages and his account on the site.

Application procedures in the Zod savings product linked to the Nafath product to finance self-employment:
The client must register his account in the electronic application service with Nafath product to finance self-employment, (cash financing, car financing)
Choose to subscribe to the Zod savings product while submitting the application on the Social Development Bank website, or after receiving the financing
After initial approval, a Zod savings account can be opened through one of the partner banks within a period not exceeding 5 days.
The customer must ensure that the IBAN number matches the Zod savings account before approving it on the Social Development Bank website.

Individuals , citizen

Target Audience

2 Working Days

Service Duration

Website Portal

Service Delivery Channels

Arabic

Service Offered In Language

Free

Service Cost

FAQ's

Phone

920008002

Email

[email protected]

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