Personal Financing - Buyout

The Buyout program by Bank Albilad

​Last update on 19-08-2020

Set your goals, and we will help you achieve them! 


Do you want to settle your personal financing with any other bank and transfer your salary Bank Albilad? Now you can do that with our personal financing buyout program to enjoy our wide range of exceptional services. 




What are the key features of Bank Albilad buyout financing?

Here's what you can expect from our buyout financing service:

  • Sharia-compliant financing services
  • Ability to choose the desired Shariah approved shares from the local market
  • Financing is available to other bank employees with no salary transfer
  • Early settlement is available
  • Execute your financing day or night through our sales centers
  • Financing is executed instantly.
  • Financing period up to 5 years
  • Financing amount up to SAR 2,000,000.
  • Ability to defer one instalment per annum
  • Available for retired customers
  • Available with no salary transfer for Banks Employees

Terms and Conditions 


  • Customer must be 21 years or older
  • Open current account with Bank Albilad 
  • Customer must be an employee of a public or private sector approved by Bank Albilad.
  • Customer's salary should be 5,000 SAR or more 

FAQs

 

 What documents do I require to submit for shares financing?

Customers must have the following documents:

  • Valid ID 
  • ID copy for military employees
  • Fill out disclosure form 
  • Filling "Local Shares Installment Purchase Order" Form
  • A letter from the customer's employer indicating: monthly salary (Basic and allowances), job title, date of employment
  • A statement of salary transfer from employer 


Is there any management fee?

The management fee 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:

Buyout Finance
Finance amountSAR 100,000  
Total profit marginSAR 10,000  
APR
4.31%
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

APR may differ depending on the amount, maturity period and credit scoring of the customer

TERMS AND CONDITIONS APPLY.




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