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 
  
• Available for both Saudis and non-Saudi
• Immediate preliminary approval from the first visit
• Competitive profit rates
• No down payments required
• No Ballon Payment required
• Partial early repayment option
• Available for customer between 60- 70 years of age for the retirements customers 
• The deduction ratio is up to 70%
• Loan tenor to 5 years 
• The financing amount is up to 1,000,000 SAR  
• Comprehensive insurance coverage for the rental car, with the possibility of choosing insurance benefits.
• Option to get up to 3 cars
• Authorization to drive for local and international countries  
• Customers can transfer the lease to another customer as well.
• Reschedule balloon payment up to 3 years 

FAQs

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:

For salary transferase:

For non-salary transferase:

Is there any management fee?

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

What are the stages of obtaining rental financing from Bank Albilad? 

First stage: 

Second stage- Initial approval:

Fill out and provide the required documents to the Bank Al Bilad Agent at dealer or sub-dealer

Third Stage – Final approval & deliver the car:

How the profit margin is calculated?

The profit is calculated through the reducing balance, so that the annual profit is distributed based on the financing amount in monthly installments and based on the value of the remaining balance of the principal amount

Example: The calculation for Salary transfer Customers no down payment

Example: The calculation for Non Salary transfer Customers no down payment:

Example: The calculation for Non salary transfer Customers with Down payment: