Saudi Arabia launches March ‘Sah’ savings with 4.98% return 

JEDDAH: Saudi Arabia has launched the third round of its Sah savings product for 2025, offering a 4.98 percent return for March under the Ijarah sukuk structure. 

Issued by the Ministry of Finance and managed by the National Debt Management Center, Sah is the Kingdom’s first savings bond designed for individuals. It operates under the Ijarah format, a Shariah-compliant structure akin to leasing, where investors receive returns in exchange for the right to use an asset. 

The offering, part of the local bond program and denominated in riyals, aligns with Saudi Vision 2030’s goal of increasing the national savings rate from 6 percent to 10 percent by the end of the decade.  

The NDMC said the format will be retained for future issuances as part of ongoing efforts to offer accessible, low-risk savings solutions. 

The latest issuance opened at 10:00 a.m. Saudi time on March 2 and will close at 3:00 p.m. on March 4. Redemptions are expected within a year, according to an NDMC post on X. 

The bonds, available through digital platforms of approved financial institutions, feature a one-year savings period with fixed returns paid at maturity. The minimum subscription is SR1,000 ($266), while the maximum is SR200,000 per user across all issuances during the program period. 

The product is fee-free and offers low-risk returns. Eligible Saudi nationals aged 18 and older can subscribe through Aljazira Capital, Alinma Investment, and SAB Invest, as well as Al-Rajhi Capital and SNB Capital. 

In January, the NDMC announced the closure of the year’s first issuance, allocating SR3.724 billion across four tranches. The first tranche, valued at SR1.255 billion, matures in 2029, while the second, worth SR1.405 billion, matures in 2032. The third totaled SR1.036 billion with a 2036 maturity, and the fourth, at SR28 million, matures in 2039. 

The previous issuance, which closed on Feb. 4, offered a 4.94 percent return, while the first 2025 issuance concluded on Jan. 7 with a 4.95 percent return. Future rates will depend on market conditions.