STC Bank Launches 'Smart Finance' - Saudi Arabia's First Fully Electronic Financing Product

STC Bank has introduced "Smart Finance," its inaugural financing offering - a fully digital, Sharia-compliant product accessible within minutes with a maximum cap of SAR 50,000. The new product addresses customer financial needs by delivering rapid financing options, flexible repayment schedules, and straightforward application procedures, all available entirely within the STC Bank mobile app.

The financing is structured to help beneficiaries enhance their living standards or fund income-generating ventures that bolster economic resilience. It operates with a minimum threshold of SAR 3,001 and a maximum of SAR 50,000. Borrowers can extend repayment across 24 months, with flexibility to extend to 36 months. The service features instant approval and permits customers to defer one installment during the loan term.

The application process is 100% digital and integrated with government platforms to retrieve information instantly, with no salary transfer required. STC Bank emphasises delivering "banking services and financial solutions that comply with Sharia principles" while maintaining "the highest levels of security and customer protection using advanced financial technologies."

The launch supports Saudi Arabia's Vision 2030, which prioritises digital transformation and financial inclusion. STC Bank seeks to expand access to financing for individuals through modern, secure, and ethical banking tools.