As Saudi Arabia’s Vision 2030 pushes diversification and boosts consumer savings, high‑yield savings options are gaining momentum. With banks competing in a rising interest‑rate environment (repo rate is now 5%, and one‑year deposit rates around 5.03%) (tradingeconomics.com), savvy savers—both citizens and expats—can maximize returns on Riyal savings. This 2025 guide breaks down the best high‑yield savings and time deposits across major Saudi banks, including Islamic alternatives, to help you optimize your money securely.
1. Why Seek High-Yield Savings in 2025?
- Higher Riyal interest yields: Time deposits now offer over 5%, a decade-high (anb.com.sa).
- Macro support: SAMA’s tight monetary policy (repo rate at 5%) encourages attractive deposit returns .
- Vision 2030 momentum: The government incentivizes savings through Sukuk and diversified financial products (arabnews.com).
- Shariah-compliant demand: Islamic accounts like Mudarabah and Wakalah are increasingly popular and profitable.
2. Bank Highlights: Top Yielding Savings & Deposit Products
Saudi British Bank (SABB) – Mudarabah Savings Account
- Profit rate: Up to ~4.00% for high balances (SAR 250K–10M) (sab.com)
- Structure: Flexible, monthly profit, unrestricted access
- Minimum deposit: None
Ideal for those seeking liquid Riyal savings with attractive returns.
Al Rajhi Bank – Awaeed & Hassad Medal Accounts
- Profit features:
- Awaeed (fixed-term): ~4.75–5.1% (via community reports) (reddit.com)
- Hassad flexible savings: monthly profit distributions with raffles (reddit.com)
- Minimum balance: SAR 50K for term deposits
Great blend of competitive yield and account flexibility.
anb (Arab National Bank) – Time Deposit & Automatic Savings
- Time Deposit:
- Minimum SAR 50K for fixed terms (1 month–3 years) (anb.com.sa, sab.com)
- Competitive and often tiered rates
- Automatic Savings:
- No minimum, flexible plans in SAR or USD, profits credited semi‑annually (anb.com.sa)
- Shariah option: Mudarabah-based.
Saudi Awwal Bank (SAB) – Islamic Mudarabah Savings
- Rate: ~0.1% nominal indicator, but actual profit likely linked to market yields (sab.com)
- Minimum deposit: SAR 5K
- Shariah-compliant option with monthly payouts.
Bank Albilad – Investment Wakalah & Savings Account
- Savings: Profit appears market-linked, monthly credit (anb.com.sa)
- Wakalah Account: Higher-return low-risk investment program
- Shariah-compliant, accessible for regular savers.
3. Comparing Products: Rates, Flexibility, Eligibility
| Bank / Product | Rate Range | Type | Min. Deposit | Access |
|---|---|---|---|---|
| SABB – Mudarabah Savings | 3.5‑4.0% | Shariah, flexible | None | High |
| Al Rajhi – Awaeed (Term) | 4.75‑5.1% | Fixed-term + raffle | 50K SAR | Medium |
| Al Rajhi – Hassad | Variable 4‑5% | Flexible with incentives | None | High |
| anb – Time Deposit | ~4‑5% | Fixed-term | 50K SAR | Medium |
| anb – Auto Savings | Market-linked | Flexible | None | High |
| SAB – Mudarabah Savings | Market-linked | Shariah, flexible | 5K SAR | High |
| Albilad – Savings / Wakalah | Variable | Investment savings | Varies | High |
4. Islamic vs Conventional: Profit vs Interest
- Mudarabah: Profit-sharing from bank investments (SABB, SAB)
- Wakalah: Agent-based investment structure (Albilad)
- Term deposits: Structured as returns or prizes instead of interest (Al Rajhi Awaeed)
If Shariah compliance is a priority, these are robust, halal-friendly alternatives offering competitive yields.
5. Sukuk Savings: Government-Backed Option (2024–25)
In 2024, Saudi Arabia’s first retail Sukuk savings product offered a 5.64% yield and attracted SAR 861 M from 35,000 savers (reddit.com, reddit.com, anb.com.sa, bankalbilad.com, agbi.com). This trend may continue in 2025 with new government-backed savings products aligned with Vision 2030.
6. Maximizing Yield: Smart Strategy Tips
- Mix and match: Use term deposits for top yields while keeping liquid accounts handy.
- Stick to Shariah: Chose compliant products for ethical investment aligned with Riyal returns.
- Work the promos: Al Rajhi raffle-linked savings offer added upside.
- Shop rates frequently: As banks tighten margins, rates can shift—stay updated (agbi.com, reddit.com).
- Check minimums: Term accounts often start at SAR 50K; Mudarabah accounts often require none.
- Align with your goals: Use flexible plans for buffer funds and term deposits for earmarked goals.
7. Opening an Account: A Quick Guide
- For term deposits, specify amount and tenure; access terms vary.
- Mudarabah accounts are instantly available via app or branch.
- Rollover: Set automatic reinvestments or manual renewals depending on product.
8. Factors Influencing Rates in 2025
- Repo rate stabilization at 5% supports fixed deposit yields (reddit.com, tradingeconomics.com).
- Government incentives: Vision 2030’s savings push encourages attractive financial instruments.
- Competitive dynamics: Banks squeeze margins—better rates for customers (agbi.com, agbi.com).
9. Risks & Considerations
- Profit variability: Mudarabah returns aren’t guaranteed—they depend on fund performance.
- Early withdrawal penalty: Term deposits may forfeit some profit.
- Inflation impact: Bank yields may trail inflation—consider other assets like Sukuk or equity for balance.
- Shariah compliance scrutiny: Verify committee oversight, especially in Wakalah and Mudarabah programs.
10. Outlook: What to Watch in 2025
- New retail Sukuk offerings expected as part of Vision 2030 savings push.
- Rate fluctuations tied to global monetary trends and domestic liquidity needs.
- Digital onboarding surge: Fintech banks like D360/STC Bank may introduce competitive savings solutions.
- Increased transparency: Digital platforms, aggregators (e.g. Giraffy.com), will show real-time profit rates (reddit.com, en.wikipedia.org).
Final Summary
- Top contenders:
- Al Rajhi Awaeed for fixed-term yields
- SABB Mudarabah for flexible, forex-free returns
- anb Time Deposit & Auto for diversified savings
- SAB & Albilad Islamic accounts for Shariah compliance
- 2025 snapshot: Fixed deposit rates hover around 5%, flexible savings offer ~4%, and new Sukuk options approaching 5.6% yield
- Savvy approach: Match products to purpose—liquidity vs yield vs compliance
- Stay informed: Watch repo rate trends, bank promos, and Vision 2030 savings initiatives
Whether you’re aiming for predictable term yields or flexible, compliant savings, Saudi banks offer strong 2025 options to grow your Riyals smartly.