Personal Financing by Bank Albilad

13-04-2023

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!

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

How to apply for Personal Finance through Albilad Net?

Login to Albilad Net
Select " Request for Consumer Finance"
Fill in the Application Form
Review all information and Agree to the Terms and Conditions.
Enter the one-time password received in your mobile
Submitted successfully your consumer finance request

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

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 amount	SAR 100,000
Total profit margin	SAR 8,614
APR	3.86 %
Management fees	Management fees is 1% of the Financing Amount with Cap. of SAR 5,000
Finance duration	60 months
Total finance cost	SAR 110,000
Monthly installment	SAR 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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To call Bank Albilad from Saudi Arabia: 8001230000, and from outside the Saudi Arabia: 00966920001002

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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).

Personal Financing