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 Personal Financing

 Personal Financing by Bank Albilad

17-10-2023

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


We at Bank Albilad are keen to provide you with the best financing solutions. Personal finance from Bank Albilad allows you to request your own personal finance that is compatible with the Shariah Committee’s regulations, with convenient monthly installments and a financing period of up to 5 years!
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What are the key features of Bank Albilad Personal financing? 

 
Here’s what you can expect from our Personal financing service: 
  • Sharia-compliant financing services 
  • Available to Saudi and non-Saudi
  • Financing is available to other bank employees with no salary transfer 
  • Early settlement is available
  • 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 
*Terms and condition are applied

How to apply for Personal Finance through Albilad App?

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

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Terms and Conditions 

  • Customer must be 18 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 3,000 SAR or more for Saudis and 3,500 SAR for non-Saudi

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FAQs

 

 What documents do I require to submit for Personal financing?

  • Customers must have the following documents:
  • Valid ID 
  • ID copy for military employees
  • Fill out disclosure 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:

Personal Financing
Finance amountSAR 100,000  
Total profit marginSAR 8,614 
APR3.86 %
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 1810.23

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

TERMS AND CONDITIONS APPLY.



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All Rights Reserved © 2023 Bank Albilad is a Saudi joint stock company, with National Unified No. 7001473102, Head Office: Al Mutamarat 8229, Building No 2, RIYADH 3952 - 12711, KSA. Under monitoring and supervision of Saudi Central Bank and licensed by Royal decree 48/M on 1425/9/21H (4/11/2004 G).


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