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Impact of interest on 500,000 riyal loan
The article explains how the rise in the Sibor rate affected mortgage loan costs in Saudi Arabia. For instance, the monthly installment for a 500,000 Riyal loan increased from approximately 1,838 Riyals in mid-2021 to a peak of 3,316 Riyals at the end of 2023, representing an 80.4% increase. Subsequently, the Sibor rate declined, and the financial situation improved, reducing the installment to around 2,854 Riyals currently, with the interest rate dropping to 4.76% in the second quarter of 2026. The study shows that the change in the Sibor rate led to a total increase of about 139,000 Riyals in loan payments from the peak, highlighting clear fluctuations in interest rate trends and their impact on mortgage financing costs.
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