The Alternative Finance Hajj Financing Plan allows you perform Hajj with a flexible payment plan, helping you fulfil your desire to make this journey. This helps you achieve your Hajj plans without the burden of cash flow.  

The Prophet (peace and blessings of Allah be upon him) said: “Hasten to do Hajj – meaning the obligatory Hajj – for none of you knows what will happen to him.” Narrated by Imam Ahmad (may Allah have mercy on him), 1/314; classed as hasan by al-Albaani in Irwa’ al-Ghaleel, 990.  

With 50% down payment, you can make the pilgrimage to Makkah and spread the balance payment across 24 Months. 

To get started, you would require an Alternative Finance account. If you have one kindly proceed to filling the required forms, if you do not have an Alternative Finance account kindly click the link below to open one.

Alternative Finance Hajj Plan Terms

The Alternative Hajj Plan facilitates and eases the
achievement of Hajj for interested and intending Muslims.

1. Make equal periodic payments over an agreed period. 

2. SAF pays for your Hajj early while you continue to make
your periodic payments prior to proceeding on Hajj.

Employees of reputable organisations as defined and
approved from time to time by the Bank
Self-Employed individuals with proven capability to meet up
with periodic payment

As presented by the preferred Hajj Service provider of
the customer or SAF Hajj Services Partners.

50% of Cost of Hajj Package must have been saved
up prior to Hajj payment date.

12 to 36 months

Pre-Payment for Hajj – Mudarabah Deposit
Post-Payment for Hajj – Ijarah for Services

Customer makes request to lease SAF Hajj Services
executing a promise to lease and Security Deposit
agreement prior to Hajj payment date.

Alternative Finance Hajj Services Application Form
Promise to Lease Agreement

Last 3 payslips or last 3 months bank statement

Customer gives post-dated cheques OR standing order for
monthly debits for Hajj savings and lease payments.

2 Clean and Recent Credit Reports

1 Guarantor who must be a senior colleague at work
for officers below mid-management grade level or
minimum of a mid-level professional for self-employed
individuals (e.g. Banker, lawyer, doctor, engineer,
accountant, etc.)

Post-Dated Cheques
Direct Debits instructions

Eligibility Requirements

1. Security deposit of 50% of Hajj Fare due on or before
end of Ramadan
2. Maximum of 24 months starting in the month
immediately after Hajj.
3. Credit life insurance put in place by the Bank to
secure uncleared debt against customer in the
event of death.
4. 14% (flat) per annum rental on cost of Hajj package.
5. Choice of Hajj Operator must be NAHCON licensed.
6. Cost of Hajj Package not exceeding N4million
7. Proposed financing Tenor not exceeding 24 months

  • Salary domiciled with Sterling Bank/NIB
  • Employment confirmation
  • 3 Clean credit checks
  • DSCR 66.67% of monthly take-home salary

Minimum of 50% security deposit

  • Fully completed application form
  • Hajj services utilization contract
  • Last payslip
  • 3 months bank statement
  • Guarantor’s undated cheque – Non-Staff
  • Invoice from Hajj Operator (Addressed to Sterling

If you have read and understood the terms and conditions kindly proceed by following the steps below.

  1. Download Hajj Acquisition Agreement and Financing Utililization Contract, fill the forms as it would be uploaded at the final stage. (Please note that the forms should be signed but not dated)
  2. Proceed to filling the Hajj Finance form .