up to 50,000 SAR
within 5 minutes
Financing does not
require a sponsor
What is EMKAN?
- Emkan is a retailer finance product that allows clients to buy products in installments by redeeming a voucher to use for in-store or online purchases.
Am I eligible to benefit from EMKAN?
- Saudis and non-Saudis can benefit from EMKAAN, here are the requirements:
- You must be employed and have a history of a minimum of three salaries.
- You must not have any bank commitments that lead to a salary deductions exceeding 45% of your monthly salary. In case your salary exceeds 25,000 SAR, you may be eligible for a 50% or 60% deduction of your salary as installments, or as regulated by SAMA.
- If you have previous finance plans, or current financing installments, you can still apply to have a financial plan through the application.
- The people eligible for this service are individuals from 20 to 70 years old.
- The segments who can benefit from this service are the government sector, part government, private sector and retirees.
- For Saudis, the monthly salary should exceed 1,900 SAR for retirees and 2,000 SAR for working individuals, for non-Saudis, it should exceed 5,000 SAR.
Is EMKAN available at all SACO Stores?
- This service is available at all SACO stores in Riyadh and can be accessed through the mobile application across The Kingdom of Saudi Arabia.
How do I apply?
- Your request is submitted through the mobile application, obtained by either scanning the QR code or searching for EMKAN Finance in the application store.
- Here are the steps:
- Sign up and verify phone number
- Enter the amount of products you want to buy
- Fill in all needed information
- After approval, the due amount and the monthly amount will appear
- You will be provided with a voucher that you can redeem in SACO stores or online shop.
- Once all the information is filled out, you should choose the finance amount, enter the employee code: “SACO”, submit all the requested documents, and electronically sign the agreement. The procedure on the application can be finalized in 10 minutes.
- After signing the agreement and the promissory note, you will be able to find the amount in your bank account.
- In case you work in a governmental position, you are required to submit a salary certificate issued by your employer, in addition to a bank account statement.
- If you work in the private sector, you should submit a bank statement, a social insurance certificate and a salary certificate.
- For more information, you can reach the call center by dialing 920011038.
What are the requirements of the application?
- The application will be on the EMKAN website link:
- Online registration
- ID number
- Abshir mobile number
- Bank statement 3 month for the government sector
- Salary Certificate for government sector
What are the features of the loan?
- Employer approval is not required.
- Application can be done without salary transfer.
- Financing amount for Saudis from 500 SAR up to 20,000 SAR, and for non-Saudis up to 10,000 SAR.
- Installment plan can be from 3 months to 24 months.
- DBR up to 70%.
- Credit approval within 5 minutes.
- The voucher can be used from the online store or branches (for merchants)
- EMKAN will generate a SADAD number that will allow the customer to pay the installments on every 27th on a monthly basis.