Saudi Arabia has started accepting applications for its savings product, Sah, for June, which will offer a return of 5.55%.

The Shariah-compliant, government-backed sukuk opened on June 23 and will run until June 25, the National Debt Management Center (NDMC) said in a post on social messaging platform X.

The minimum subscription amount is SR1,000 ($266.43), equivalent to the value of one bond, while the maximum is SR200,000, allowing up to 200 bonds per user during the program period.

The Sah product is available to Saudi nationals aged 18 and above who open an account with SNB Capital, Aljazira Capital, or Alinma Investment.

Sah is issued by the Ministry of Finance and organized by the NDMC. It is the first government sukuk issued aimed at enhancing saving habits.

(Editing by Seban Scaria