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
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?
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
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