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Idikhari Program

Page Title

Idikhari is a mobile financial advisor investment-driven savings platform that enables clients to access to multiple investment options and enhanced reporting services.

Idikhari has been designed for those who want to embark on a journey of goal based investing; it is designed to learn about your financial planning goals, target amount, periodic savings amount, and risk appetite. Based on these inputs, a tailored investment plan would be recommended to you and automated standing instructions will be created automatically from your SNB current account and linked with your portfolio.

Once subscribed to the plan, clients would be able to see their investment growth in real time and track progress in achieving their financial goals. During the investment horizon, at any point of time, if the clients would not be able to achieve the goals, an alert would be triggered to the client to take corrective action.

 

To download SNB Capital Mobile App, click here.


Program Benefits

  • Easy access through SNB Capital mobile app
  • Easy enrollment and subscription process
  • On spot account opening and subscription, no waiting time
  • Ability to have more than one plan with different goals
  • Flexibility to switch between plans
  • Advantage of having lower minimum subscription amounts through the program to SAR 100 and USD 26 instead of SAR 7500 and USD 2500 
  • Automated Rebalancing and Alerts

How to Subscribe

  • Login to SNB Capital app (Click here to download the app)
  • Go to “Menu” from the bottom bar
  • Choose “Individual Saving Platform” from the menu
  • Choose “Create a New Plan”
  • Start designing your plan based on your goals


FAQs

Do I need to have an active current account with SNB?
  • Yes
Do I need to be on boarded correctly with SNB Capital?
  • Yes
How can I enroll in ISP?
  • Clients who are successfully on boarded will be able to enroll in "Idikhari Program” at SNB Capital mobile App.
  • From the main menu of SNB Capital mobile app (after Securities and Mutual Funds), Individual saving Program (Idikhari) then click on create a new plan
What are the available plans in the platform?
  • Target based plan: know the target amount that I want to achieve after a specific period of time.
  • Investment based plan: have a fixed amount that I am planning to invest either on Monthly, Quarterly or Annually basis.
What are the available goals to invest for?
  • Client can choose from a list of saving goals as below:
  1. Car
  2. Education
  3. Marriage
  4. House
  5. Travelling
  6. Savings
  7. Retirement 
What is the minimum amount that I can invest with?
  • The minimum periodic amount is SAR 100 or USD 26 based on the fund currency
What are the criteria for the recommended plan?
  • The program would display automatically the recommended mutual funds based on your risk profile, duration and amount.
What are the funds that are available within Idikhari program?
  1. SNB Capital Multi-Asset Conservative Fund
  2. SNB Capital Multi-Asset Moderate Fund
  3. SNB Capital Multi-Asset Growth Fund
  4. SNB Capital Al Sunbullah SAR
Can I select a mutual fund higher than my risk profile?
  • If you wants to invest in non-recommended funds, you have to sign a risk waiver within the creation of the plan.
How many mutual funds can I subscribe to my Idikhari program? 
  • Each Idikhari portfolio will have only one linked mutual funds. 
How the amount will be deducted from my current account?
  • While setup Idikhari plan the system will request from you to select the current account and the investment start date from the calendar, afterward the system automatically will create standing orders from your SNB account.
When the investment amounts will be deducted from my SNB current account to Idikhari program?
  • The amount will start based on the selected investment start date.
Can I modify my Idikhari program?
  • Yes, log in to SNB Capital app and from the main menu click on existing plans then select the plan you would like to modify. Choose one of the modification options below:
  1. Modify duration
  2. Modify Subscription amount
  3. Modify asset Distribution
Can I add subscription to my existing Idikhari?
  • Yes
Can I Redeem any amount from my existing idikhari?
  • Yes, based on the fund terms and conditions.

Can I suspend my Idikhari\ Standing orders?
  • Yes you can suspend your plan and accordingly your standing orders will be adjusted.
Will the plan will be reactivated automatically after suspension?
  • Yes, after the selected suspension period is elapsed.
Are there any fees for Idikhari?
  • Currently Idikhari program fees are waived and only funds fees applied as per the mutual funds terms and conditions.
Are there any special reports for Idikhari?
  • Yes, it is available in the program under reoprt to view the performance of your Idikhari portfolios
Will I receive a notification near my plan completion?
  • Yes 
Can I cancel my idikhari plan? Any time?
  • Yes
Is there any cancellation fees?
  • No
Is idikhari program Sharia compliant?
  • Yes, all existing mutual funds in Idikhari program are Sharia compliant:
  1. SNB Capital Multi-Asset Conservative Fund
  2. SNB Capital Multi-Asset Moderate Fund
  3. SNB Capital Multi-Asset Growth Fund
  4. SNB Capital Al Sunbullah SAR
Am I exempted from Zakat payment when investing in Idikhari?
  • The existing mutual funds in the program are not Zakat exempted funds and the client need to pays his zakat accordingly