Refinancing Program

 Refinancing Program by Bank Albilad


Refinancing Program By Bank Albilad, whenever you need it!

The refinancing program from Bank Albilad allows you to pay off any existing Finances instead of Finances if have already paid 20% of this existing finance by getting a new financing with a higher limit and new tenure as per your desire.

What are the key features of Bank Albilad Refinancing Program?

Here’s what you can expect from our Refinancing Program: 
  • Sharia-compliant financing service
  • Available to Saudi and non-Saudi
  • Ability to choose the desired Shariah approved shares from the local market
  • Ability to choose the desired Shariah approved Commodity  
  • 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

How to apply for Refinancing through Albilad App?

  • Login to Albilad App 
  • Click on Finance from Main Menu
  • Choose Finance type
  • Submit the request

Terms and Conditions 

  • 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 3,000 SAR or more for Saudis and 3,500 SAR for non-Saudi



 What documents do I require to submit for the 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:

Refinancing Program
Finance amountSAR 100,000
Total profit marginSAR 16,000
APR6.68 %
Management feesManagement fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration
60 months
Total finance cost
SAR 116,000
Monthly installment
SAR 1,933.33

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


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