Customers must be 18 years of age or older (with proper ID documents and copies available).

Customers must have a current account with Bank Albilad. 

Customers’ field of employment (in private/public) sector must be approved by Bank Albilad.

What documents do I require to submit for auto leasing?

Customers must have the following documents for availing auto lease financing services from Bank Albilad:

Valid ID

Salary transfer slip is required (plus, salary transfer letter by employer). If this is not available, customers can provide their account statement for the last three months salaries.

If salary transfer is not provided, proof of residency is required.

Customers' home and work addresses

Filled auto financing form.

Payment receipt of down payment and administrative fees from the car dealer.

Valid Saudi driving license.

A quotation of the car with specific requirements

Is there any management fee?

The management fee is 1% of the financing amount with cap of SAR 5,000.

How to avail after-sales services?

For after-sales services, you may visit any of our centers located in Riyadh, Jeddah, and Dammam. You may also give us a call Albilad phone within the Kingdom: 8001230000,Outside the Kingdom: 00966920001002

How does the auto lease financing service work?

The auto lease financing process is simple with Bank Albilad. Here's a look at how it goes:

Visit any showrooms/dealers that are approved by the bank.

Fill the ""Auto Lease"" application form and submit documents in the bank.

If your request is approved, you'll be informed. 

Issuance of car registration and plates by the traffic department.

Setting up of vehicle for customer to pick up.

How the profit margin is calculated?

Here is an example of how the profit margin is calculated:

Auto Lease​

Car Price with VAT

80,000 SAR

​Down Payment 

​ 0%

​Finance amount

80,000SAR

Management fees 1% of the Financing Amount 

920 SAR

​Finance duration

​ 60 months

​Monthly installment

​ 1,186.67 SAR insurance is not included

APR*

6.96% insurance is not included

Balloon Payment 32,200 SAR

What are the key features of Bank Albilad auto lease financing in Saudi Arabia?

Here's what you can expect from our car lease financing services:

Sharia-compliant program

No down payments required

Available for customer between 18- 65 years of age

Available for both Saudis and non-Saudis

The deduction ratio is up to 65%

Option to get up to 3 cars

Full insurance coverage for your vehicle with the ability to choose insurance benefits

Ability to choose the desired car based on your credit limit

Early settlement is available

The financing period is up to 5 years

The financing amount is up to SAR 500,000

Customers can transfer the lease to another customer as well

Available with no salary transfer

Having A Dream Car Is Now Easy with Bank Albilad Auto Lease Financing Program

With Bank Albilad auto lease financing, customers who don’t have the budget to purchase a car can also get one. The process is pretty straightforward. You just have to select a car from an approved dealer or showroom and submit the documents. If approved, a few simple steps will lead the vehicle to your home.

Apply Now!

Customer must be 18 or older

Current account must be opened with Bank Albilad.

Customer's field of employment (in private/public) sector must be approved by Bank Albilad.

Customer's salary must be SAR 3,000 or above for Saudi customers and SAR 3,500 or above for non-Saudi customers.

Salary transfer required

What is the required documents?

Valid ID

Copy of the ID for military employees.

Completing and signing a ""Auto financing"" Form

A letter from the customer's employer indicating: monthly salary (Basic and allowances), job title, date of employment

A salary transfer letter from employer

Car price quotation

Is there any management fee?

Management fees is 1% of the Financing Amount with Cap. of SAR 5,000

How the profit margin is calculated?

Here is an example of how the profit margin is calculated:

Auto Financing​ Finance amount SAR 100,000 Total profit margin SAR 10,000 APR*

4.31% Management fees Management fees is 1% of the Financing Amount with Cap. of SAR 5,000 Finance duration 60 months Total finance cost**

SAR 110,000 Monthly installment SAR 1,833.33 

*Annual Percentage Rate (APR) varies based on amount and maturity period, while it is also subject to the customer's credit history 

* *VAT included

The above calculation method is considered an example, and that prices are subject to change due to other factors.

TERMS AND CONDITIONS APPLY.

How the financing works?

The process is simple: we buy the car from desired dealers, sell it to you with an agreed profit margin, transfer ownership to you, and then you can start the car payments as per the agreed terms of the contract.

What are the features of the plan?

Sharia-compliant plan.

Available to both Saudi and Non-Saudi.

No down payment & fast financing execution.

Choose the desired car, according to your credit limit.

Early settlement available.

Financing period up to 5 years, financing amount up to SAR 2,000,000.

Guarantor not required.

Ability to defer one instalment per annum.

Available for retired customers as well.

Own your dream car with Bank Albilad!

Bank Albilad promises to fulfill our customers’ banking needs with the Auto Financing solution, while taking into consideration all Islamic Banking Laws. If you wish to buy a new car, we will aid you by buying the car and selling to you (keeping an agreed profit margin) with a convenient payment method and a financing plan of up to 5 years!

Apply Now!