Auto Financing (Murabaha)

Auto Financing (Murabaha) by Bank Albilad

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!

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.

Terms & conditions

  • 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 amountSAR 100,000  
Total profit marginSAR 10,000  
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration60 months
Total finance cost**
SAR 110,000
Monthly installmentSAR 1,833.33

*APR may differ depending on the amount, maturity period and credit scoring of the customer
**The Amount includes the VAT when applicable
*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.


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