FAQ
What is Tamkeen Plus Credit Card?Tamkeen Plus is a high limit sharia compliant credit card allows for flexible repayment. The Card has a profit rate of 1.8% per month
Is Tamkeen Plus credit card compatible with sharia committee?Tamkeen Plus credit card is based on murabaha financing where goods are purchased and sold with the customer's consent to issue the card.
Are there any interest or profit fees on the card?(Tamkeen Plus credit card offers you the one of the lowest profit rates at 1.8% per month as part of your monthly allowance on your card) however, when you pay the full amount due on time, there will be no profit on the card.
What are the payments due date on Tamkeen Plus credit card? Payment is automatically made on the 25th of each calendar month. Cardholder may opt to pay (5 % of the outstanding balance or minimum of 200 riyals, whichever is higher) of the balance.
Can the customer make an early payment for Tamkeen Plus credit card?Yes, the customer can make a payment via Albilad Net or Albilad App
What is the point-of-sale limit for Tamkeen Plus credit card?100% of the credit limit available for the card.
What is the cash withdrawal limit for Tamkeen Plus credit card?Cash withdrawal limit is capped at 30% of the total card limit.
Is it possible to add additional funds to Tamkeen plus credit card? Yes, a balance can be added above the credit card limit.
What is the date of the statement of account? The statement of account is issued at the beginning of each calendar month
Are there welcome points when issuing a Tamkeen Plus credit card?
Yes, there is currently an offer on the new issuance of the card, until 30 November 2024 , according to the following table:
| Welcome Points |
| Tamkeen Plus Infinite Credit Card
| 294,000
|
When will the welcome points be credited?When linking new cards to Mukafaat Albilad Program.
Is it required to register for Mukafaat Albilad Program? Yes, you must register with Mukafaat Albilad Program to get the welcome points.
Is it necessary to make purchase transactions to get the welcome points?It does not require any purchase transactions to get the welcome points.
Is the customer required to link the new issued card to Mukafaat Albilad Program?Yes, the new cards must be linked to Mukafaat Albilad Program.
How many times can I benefit the welcome points offer?
The welcome points offer once per customer.
What are the rewards points earned by type of transaction and type of card?
| Product | Reward Points Earned Per 1 SAR - Domestic Spend | Reward Points Earned Per 1 SAR - International Spend |
| Albilad Tamkeen Plus INFINITE Card | 5
| 6.5
|
After completing the application, will the customer receive a physical card?After completing the application, the customer will be requested to activate the virtual card. In case the customer wants a physical card, he/ she can request one through Albilad App (Delivery and printing fees are applied).
In case customer did not sign the commodity contract or promissory note in time, will his application be cancelled?Yes, if customer did not sign within the time limit, his/ her application will be cancelled, and an SMS will be sent to him/ her
In case customer did not sell the commodity in time, will his application be cancelled?No, the bank system will sell on his/ her behalf, and an SMS will notify him/ her to complete the application through Albilad app
In case there are missing documents from the customer application, will he be required to go to the branch to provide them?Customer should resume the application online and submit the missing documents through Albilad app without the need to visit the branch
How to register in Mukafaat Albilad program?- Login to Albilad App or Albilad Net
- Choose “Mukafaat Albilad” icon from the main menu
- Accept “Terms & Conditions”
- You will be automatically redirected to your account in Mukafaat Albilad program
What are the issuance and renewal fees for the Tamkeen Plus credit card?
Fees (SAR)
| VAT | Tamkeen Plus Infinite | | Annual fees for the Main Card | 15% | 1250
| | Annual fee for Supplementary Card | 15% | 600 | | Replacement Card Fees | 15% | 600 | | International replacement card issuance fee | 15% | USD 287.50 | | Re-issue fees | 15% | 100 | | Cash Withdrawal Fee | 15% | SAR 75 for each transaction | | Alternate Account Statement Fee - Additional | 15% | 20 | | Transaction dispute | 15% | 50 | | Optional Issuer Fee (OIF) for transactions whose currency is different from Riyal | 15% | 2.75%
|
All Fees are VAT exclusive
How does Bank Albilad calculate the profit?
To view the method of calculating the profit margin,
click here
To view the full terms and conditions click here
Terms and Conditions for Welcome Points Offer- Offer is applicable on cards issued from 17 September 2024 to 30 November 2024.
- Offer is applicable on Tamkeen Plus cards for new customers
- The card and account status must be active at the time of crediting points.
- Bank Albilad has the right to stop the offer or amend or change the terms and conditions of the offer at any time the bank deems it appropriate
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