The Social Development Bank in Saudi Arabia has announced a significant increase in the marriage loan amount, now set at 72,000 Riyals for Saudi citizens.

Reports indicate that the loan can be repaid through manageable installments over a four-year period.

The bank has stated that the loan will be forgiven in the event of the borrower’s death, as per the terms of the insurance policy.

Eligibility criteria for the loan require applicants to be between 18 and 70 years old, and individuals with a monthly income exceeding 14,500 Riyals will not qualify.

The loan is designated for first marriages, though a loan may be obtained for a second marriage if the wife has passed away.

Applicants are required to provide a certified marriage certificate, and loans will not be approved if more than two years have elapsed since the marriage.

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In related news, the Passport Department in Saudi Arabia has urged resident foreigners to renew their residency permits promptly upon expiration. A three-day grace period is allowed for renewals after the permit expires.