Auto Lease Financing

Auto Lease Financing by Bank Albilad

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.





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 21 - 65 years of age
  • Available for both Saudis and non-Saudis
  • The deduction ratio is up to 65%
  • Option to get a car without first or last instalment
  • Option to get up to 3 cars
  • Full insurance coverage for your vehicle 
  • 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




Terms and Conditions 


  • 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.

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:

  • 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 at 920001002.


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 to get my car insurance certificate?

To get a copy of your car insurance please click here .

 

How to apply for a claim in case of accident?

For more information on how to submit a claim, click here .

 

How the profit margin is calculated?

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

Auto Lease​
Finance amount
SAR 100,000  
Total profit marginSAR 10,000  
APR4.31%
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration60 months
Total finance costSAR 110,000
Monthly installmentSAR 1,833.33

 TERMS AND CONDITIONS APPLY.


Contact Us

down arrow