Saudi Arabia Consumer Credit Market

Saudi Arabia Consumer Credit Market Overview:

The Saudi Arabia consumer credit market size reached USD 112.3 Million in 2024. Looking forward, IMARC Group expects the market to reach USD 152.3 Million by ​2033​, exhibiting a growth rate (CAGR) of 3.3% during 2025-2033. The market share is expanding, driven by the rising need for financial support to purchase homes and vehicles, along with the increasing shift towards digital purchases, encouraging financial institutions and fintech companies to offer more credit-based services.

Saudi Arabia Consumer Credit Market Trends:

Increasing need for housing and auto loans

The rising demand for housing and auto loans is fueling the Saudi Arabia consumer credit market growth. With the population steadily increasing, there is a high need for personal mobility and residential space, which is encouraging people to explore loan options that can ease large purchases. As per industry reports, as of August 2024, the total population of Saudi Arabia was roughly 37.5 Million. Many individuals, especially young professionals and families, are turning to credit to fulfill lifestyle aspirations like owning a car or buying a home sooner. The government’s housing initiatives and support for first-time homebuyers is positively influencing the market, making mortgage products more accessible. Similarly, auto loans are becoming more attractive as people look to upgrade their vehicles or move from public transport to personal cars for convenience. Financial institutions and fintech players are offering a variety of tailored loan items with flexible repayment options to meet this rising demand. As a result, consumer borrowing is increasing steadily, with credit providers innovating to meet the changing expectations of a credit-savvy population in a growing economy.

Expansion of e-commerce sites

The expansion of e-commerce portals is offering a favorable Saudi Arabia consumer credit market outlook. More people are turning to online shopping for convenience and variety. According to the information provided on the official website of the International Trade Administration, by 2024, the total of Saudi Internet users engaging in e-commerce (both selling and buying) was projected to hit 33.6 Million, marking a 42% rise since 2019. With the growing number of digital platforms offering everything from electronics to groceries, people are looking for flexible payment options to manage their spending more comfortably. This increasing shift towards digital purchases is motivating financial institutions and fintech companies to provide more credit-based services like buy now, pay later schemes, digital credit cards, and easy installment plans. As individuals get more comfortable with online payments and trust in digital transactions continues to grow, there is a rising demand for seamless credit facilities that can be accessed instantly during the checkout process. People prefer having the flexibility to split payments over time, especially when buying high-value items, which leads to increased use of short-term credit solutions. E-commerce portals are also partnering with financial service providers to offer embedded finance options, making credit more accessible to a larger segment of the population. As digital infrastructure strengthens and Internet penetration rises across the country, individuals in smaller cities and towns are gaining access to online credit facilities. These improvements are steadily catalyzing the overall demand for consumer credit services in the online marketplace.

Saudi Arabia Consumer Credit Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the regional level for 2025-2033. Our report has categorized the market based on credit type, service type, issuer, and payment method.

Credit Type Insights:

• Revolving Credits
• Non-revolving Credits

The report has provided a detailed breakup and analysis of the market based on the credit type. This includes revolving credits and non-revolving credits.

Service Type Insights:

• Credit Services
• Software and IT Support Services

A detailed breakup and analysis of the market based on the service type have also been provided in the report. This includes credit services and software and IT support services.

Issuer Insights:

• Banks and Finance Companies
• Credit Unions
• Others

The report has provided a detailed breakup and analysis of the market based on the issuer. This includes banks and finance companies, credit unions, and others.

Payment Method Insights:

• Direct Deposit
• Debit Card
• Others

A detailed breakup and analysis of the market based on the payment method have also been provided in the report. This includes direct deposit, debit card, and others.

Regional Insights:

• Northern and Central Region
• Western Region
• Eastern Region
• Southern Region

The report has also provided a comprehensive analysis of all the major regional markets, which include Northern and Central Region, Western Region, Eastern Region, and Southern Region.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Saudi Arabia Consumer Credit Market News:

• In March 2025, the Saudi Central Bank (SAMA) issued a license to Tamara Finance, allowing the firm to offer consumer financing and BNPL services within the Kingdom of Saudi Arabia. The institution’s goal in increasing the number of licensed entities was to foster the development of the financial services sector while providing a safe and regulated space for consumers.
• In December 2023, Tabby, the prominent Saudi consumer credit platform, obtained USD 700 Million in asset-backed financing from JP Morgan. This was among MENA's largest asset-backed funding for a fintech. The firm's goal was to enable both consumers and merchants while transforming the future of financial services in Saudi Arabia.

Saudi Arabia Consumer Credit Market Report Coverage:

Key Questions Answered in This Report:

• How has the Saudi Arabia consumer credit market performed so far and how will it perform in the coming years?
• What is the breakup of the Saudi Arabia consumer credit market on the basis of credit type?
• What is the breakup of the Saudi Arabia consumer credit market on the basis of service type?
• What is the breakup of the Saudi Arabia consumer credit market on the basis of issuer?
• What is the breakup of the Saudi Arabia consumer credit market on the basis of payment method?
• What is the breakup of the Saudi Arabia consumer credit market on the basis of region?
• What are the various stages in the value chain of the Saudi Arabia consumer credit market? 
• What are the key driving factors and challenges in the Saudi Arabia consumer credit market?
• What is the structure of the Saudi Arabia consumer credit market and who are the key players?
• What is the degree of competition in the Saudi Arabia consumer credit market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Saudi Arabia consumer credit market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Saudi Arabia consumer credit market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Saudi Arabia consumer credit industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.