“Sah” product closes its 1st savings round for February 2024 worth SR 861 million

On Tuesday, Rajab 25, 1445 AH, corresponding to February 6, 2024 AD, the “Sah” product closed its first savings round, as the total volume of savings requests reached (861) million riyals, and it was fully allocated on Tuesday, Shaaban 03, 1445 AH, corresponding to February 13, 2024 AD, to savers, which amounted to 861 million riyals. Their total number is (35) thousand savers.

It is noteworthy that the return of the “Sah” product in February is (5.64%), and is due after one year in February 2025 AD. The second saving round is scheduled to begin on Sunday, Shaban 22, 1445 AH, corresponding to March 3, 2024 AD, according to the calendar announced by “Sah”. The window will also be opened through the digital channels of participating financial institutions.

The “Sah” product, which was launched by the Ministry of Finance and the National Debt Management Center, comes within the initiatives of the Financial Sector Development Program (one of the Saudi Vision 2030 programs) aimed at raising savings rates among individuals by motivating them to deduct a portion of their income periodically and allocate it to saving, in addition to increasing The supply of savings products, enriching financial culture, and raising awareness of the importance of saving and its benefits for planning future goals.