Flat Rate
5.59%
Minimum Salary
SAR 1900.00
Monthly Payment
SAR 1,327
Down payment
NA
Auto Loan
Al Rajhi Bank - Auto Murabaha Finance for Retiree
Description :
Auto Finance is a tailored made flexible solution designed to enable you to Finance a car you want, Quick Processing time, Salary Transfer not mandatory requirement, Flexible finance tenure, Simple documentationCompetitive profit rates, No insurance hassle, Balloon Payment & Balloon Refinance option available.
Fees & Costs:
• Management fees equal to 1% of finance amount or SAR 5,000 whichever is less.
Requirements:
• Minimum income requirement starting from SAR 1900.00
• Maximum age for Civilians 65 years
• Maximum age for Military: subject to their rank at retirement.
• 4-Saudi Nationals Only.
Car Documents:
• Quotation addressed to Al Rajhi Bank and customer.
• Completed Application form.
Eligibility:
• Minimum income requirement starting from SAR 1900.00
• Maximum age for Civilians 65 years.
• Maximum age for Military: subject to their rank at retirement.
• 4-Saudi Nationals Only.
Documents required:
• Quotation addressed to Al Rajhi Bank and customer.
• Completed Application form .
• Copy of Valid ID.
• Copy of evidence of income from Government.
Benefits:
• Quick Approvals.
• Allows customer to acquire cars finanicng in a Shari'a compliant manner.
• Relaxed Eligibility.
• Flexible financing Tenor.
• No hidden charges.
• Competitive Profit Rates.
• No Early Settlement Penalty.
• Simple Documentation.
Al Rajhi Bank - Auto Murabaha Finance for Non Saudi Nationals
Flat Rate
5.59%
Minimum Salary
SAR 2000
Monthly Payment
SAR 1,327
Down payment
NA
Description :
Auto Finance is a tailored made flexible solution designed to enable you to Finance a car you want, Quick Processing time, Salary Transfer not mandatory requirement, Flexible finance tenure, Simple documentationCompetitive profit rates, No insurance hassle, Balloon Payment & Balloon Refinance option available.
Fees & Costs:
• Management fees equal to 1% of finance amount or SAR 5,000 whichever is less.
Requirements:
• Minimum income requirement starting from SAR 2000.
• Maximum age for Civilians 65 years.
• 3-Maximum age for Military: subject to their rank at retirement.
Car Documents:
• Quotation addressed to Al Rajhi Bank and customer.
• Completed Application form.
Eligibility:
• Minimum income requirement starting from SAR 2000 .
• Maximum age for Civilians 65 years.
• 3-Maximum age for Military: subject to their rank at retirement.
Documents required:
• Quotation addressed to Al Rajhi Bank and customer.
• Completed Application form.
• Copy of Valid Saudi IQAMA.
• Copy of Passport.
• National address.
• Salary letter attested by the Ministry of Commerce.
• Bank statements for the last 6 months for Non Salary Transfer customers.
• Location map* Further documents may be required for self employed customers.
• Copy of the Chamber of commerce certificate attested by Ministry of Commerce.
• Copy of the Article of association attested by Ministry of Commerce.
Benefits:
• Quick Approvals.
• Allows customer to acquire cars finanicng in a Shari'a compliant manner.
• Relaxed Eligibility.
• Flexible financing Tenor.
• No hidden charges.
• Competitive Profit Rates.
• No Early Settlement Penalty.
• Simple Documentation.
Al Rajhi Bank - Auto Murabaha Finance for Saudi Nationals
Flat Rate
5.59%
Minimum Salary
SAR 2000
Monthly Payment
SAR 1,327
Down payment
NA
Description :
Auto Finance is a tailored made flexible solution designed to enable you to Finance a car you want, Quick Processing time, Salary Transfer not mandatory requirement, Flexible finance tenure, Simple documentationCompetitive profit rates, No insurance hassle, Balloon Payment & Balloon Refinance option available.
Fees & Costs:
• Management fees equal to 1% of finance amount or SAR 5,000 whichever is less.
Requirements:
• Minimum income requirement starting from SAR 2000.
• Maximum age for Civilians 65 years.
• Maximum age for Military: subject to their rank at retirement.
Car Documents:
• Quotation addressed to Al Rajhi Bank and customer .
• Completed Application form.
Eligibility:
• Minimum income requirement starting from SAR 2000
• Maximum age for Civilians 65 years
• Maximum age for Military: subject to their rank at retirement
Documents required:
• Quotation addressed to Al Rajhi Bank and customer.
• Completed Application form
• Copy of Valid Saudi ID.
• National address
• Salary letter attested by the Ministry of Commerce
• Bank statements for the last 6 months for Non Salary Transfer customers
• Location map* Further documents may be required for self employed customers
• Copy of the Chamber of commerce certificate attested by Ministry of Commerce
• Copy of the Article of association attested by Ministry of Commerce
Benefits:
• Quick Approvals.
• Allows customer to acquire cars finanicng in a Shari'a compliant manner.
• Relaxed Eligibility.
• Flexible financing Tenor.
• No hidden charges.
• Competitive Profit Rates.
• No Early Settlement Penalty.
• Simple Documentation.
Al Rajhi Bank - Auto Ijarah
Flat Rate
5.59%
Minimum Salary
SAR 2000
Monthly Payment
SAR 1,327
Down payment
NA
Description :
Flexi Auto Finance is a tailored finance solution that has been designed to enable you to own the car you want, now, Salary Transfer not Mandatory, Quick approvals, Available for new & pre-owned cars.
Fees & Costs:
• Management fees equal to 1% of finance amount or SAR 5,000 whichever is less.
Requirements:
• Minimum income requirement starting from SAR 2000 .
• Maximum age of 65 years.
Car Documents:
• Quotation addressed to Al Rajhi Bank and customer
• Completed Application form
Eligibility:
• Minimum income requirement starting from SAR 2000
• Maximum age of 65 years
Documents required:
• Quotation
• Completed Application form
• Copy of Valid Saudi ID
• Employment letter
Benefits:
• Quick Approvals
• Available for New & Pre Owned Cars both.
• High finance amounts for up to SAR 2 million
• Zero down payment option.
• Balloon payment option available to help you reduce your monthly installments.
• Fully comprehensive insurance for the entire finance tenure..
• Extended warranty on leased car.
• Salary Transfer not a mandatory requirement.
Al Rajhi Bank - Auto Murabaha Finance
Minimum Salary
SAR 1,900
Description :
We are committed to constantly developing better products and quality service for our customers. Our competitive and flexible Car Finance product give you the freedom to own cars in a quick and easy manner while remaining true to Shariah principles.
We, at your request buy your desired car from our partner dealer & finance the amount to you at an agreed profit & tenure. On a monthly basis you pay us the installments while car remain registered on your name.
Features:
Product Details
Salary Transferred Customers
• National ID / Iqama
• Valid driving license
• Duly signed & attested Salary Letter with income breakup from employers.
• Any additional income documents for last 2 years in the form of proof of income & bank statements reflecting such income.
Non-Salary Transferred Customers
• National ID / Iqama
• Valid driving license
• Duly signed & attested Salary Letter with income breakup from employers attested by Chamber of Commerce.
• Last 3 months Bank statements showing salary credits.
• GOSI certificate
• Any additional income documents for last 2 years in the form of proof of income & bank statements reflecting such income.
Benefits:
• Quick approvals
• Allows customer to acquire cars financing in a Shari'a compliant manner
• Flexible financing Tenor
• No hidden charges
• Competitive Profit Rates
• No Early Settlement Penalty
• Simple Documentation
Eligibility Criteria:
• Minimum age 18 years.
• Monthly Income starting from SAR 1,900
Al Rajhi Bank - Used Cars Financing
Flat Rate
11.20% - 13.08%
Minimum Salary
SAR 4000
Down payment
0% - 5%
Description :
At alrajhi bank we are committed to constantly developing better products and quality service for our customers. In addition to leasing new vehicles, we also offer you the unique opportunity of leasing used cars. Used Cars leasing program is tailored as an economical option to meet your requirements & budgets. We strive to offer competitive and flexible products , while ensuring quick & easy access to meet your requirements.
Benefits:
Salary Transferred Customers to alrajhi bank
Down payment starting from 0%.
Admin Fees 1% or SAR 5,000 whatever is lower
Balloon Payment up to 25%.
Lease tenor up to 60 months.
Low Annual Percentage Rate starting from 11.20%
Non-Salary Transferred Customers
Down payment starting from 5%.
Admin Fees 1% or SAR 5,000 whatever is lower
*Balloon Payment upto 20%
Lease tenor up to 60 months.
Low Annual Percentage Rate starting from 13.08%
Al Rajhi Bank - Auto leasing
Minimum Salary
SAR 1,900
Description :
We are committed to constantly developing better products and quality service for our customers. Our competitive and flexible Car Leasing product gives you the freedom to lease a car in a quick and easy manner while remaining true to Shariah principles.
Features:
Documentation Requirement:
Salary Transferred Customers to alrajhi bank
• National ID / Iqama
• Valid driving license
• Duly signed & attested Salary Letter with income breakup from employers.
• Any additional income documents for last 2 years in the form of proof of income & bank statements reflecting such income.
• Vehicle condition assessment report from Agency dealership of vehicle in KSA. (Applicable for Applicant replacement)
Non-Salary Transferred Customers
• National ID / Iqama
• Valid driving license
• Duly signed & attested Salary Letter with income breakup from employers attested by Chamber of Commerce.
• Last 3 months Bank statements showing salary credits.
• GOSI certificate
• Any additional income documents for last 2 years in the form of proof of income & bank statements reflecting such income. (Applicable for Applicant replacement)
Benefits:
• Allows customer to acquire cars leasing in a Shari'a compliant manner
• Quick Approvals
• Available for New & Pre Owned Cars both from our partners Agency & Sub Dealers across KSA.
• Relaxed eligibility criteria
• Flexible financing Tenor between 12 to 60 months.
• No hidden charges
• Extremely competitive Profit rates
• Comprehensive Insurance coverage throughout the lease tenure
• High finance amounts for up to SAR 2 million.
• Zero down payment option available
• Balloon payment option available to help you reduce your monthly installments
• Balloon Refinance option available
• Partial Early payment & Advance payment options available
• Salary Transfer not a mandatory requirement.
• Simple & Easy Documentation
• Ability to consider other / additional provable income if any.
• Ability to add additional driver.
• Ability to transfer your lease facility to another customer.
• If you choose to apply auto lease facility though Al Rajhi Mobile APP, you get rewarded with 30,000 MOKFAA points. These Points can be redeemed across various stores / sites in KSA.
Eligibility Criteria:
• Minimum age 18 years.
• Monthly Income starting from SAR 1,900.
• Length of service starting from 1 month.
Al Rajhi Bank - Leasing Motor Bikes with Salary Transferred
Flat Rate
%17.40
Down payment
10%
Features:
• Down payment 10%.
• Admin Fees 1% or 5,000 SR which is less
• Balloon Payment Not available
• Term 60 Months.
• Low Annual Percentage Rate (including insurance) starting from 17.40 %
Al Rajhi Bank - Leasing Motor Bikes with Non-Salary Transfer
Flat Rate
18.96%
Down payment
15%
Features:
• Down payment 15%.
• Admin Fees 1% or 5,000 SR which is less
• Balloon Payment Not available
• Term 60 Months.
• Low Annual Percentage Rate starting from 18.96%
Al Rajhi Bank - Finance Motor Bikes Salary Transferred Customers
Flat Rate
19.66%
Down payment
0%
Features:
• Down payment 0%.
• Fees Admin 1%
• Balloon Payment Not available
• Term 36 Months.
• Low Annual Percentage Rate (including insurance) starting from 19.66%