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 Tamkeen Credit Card

 Tamkeen Credit Card

19-07-2023


Why Tamkeen Credit Card is the best credit card for you?


Innovation lies at the heart of Bank Albilad, where products and services are devised to satisfy the needs and demands of our customers. Tamkeen platinum credit card is one such effort from our end to ensure innovation is visible from different echelon of our bank.  

Unlike other credit cards, where making purchases often leads to payment of accumulated interest amount, Tamkeen credit card allows the purchase of any product, anywhere, from any store and then pay back the due amount in an easy installments with no interest or profit margin!
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What are the features of Tamkeen credit card?

  • Sharia compliant credit card.
  • 0% interest rate.
  • Payment of only 5% of amount due or 200 SAR (whichever is higher).
  • Reusable available balance.
  • Cash withdrawals from ATMs (30% of credit limit).
  • Point of Sale (POS) transaction (100% of credit limit).
  • Benefiting of Mukafaat Albilad loyalty Program to earn points and redeem them for exciting rewards.
  • Easy to add to Apple Pay and Mada Pay.
  • Access to lavish airport lounges around the world. For more information click here
  • Numerous seasonal discounts.
  • competitive change rates
  • Early full payment of amount due is acceptable

Terms and Conditions:

  • Monthly payment of only 5% of the due amount or 200 SAR, whichever is higher.
  • Payments are automatically deducted on the 25th of each month.

To view the full terms and conditions Click here
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Tamkeen Card Fees

 

Credit Card Type
 Tamkeen Credit Card
​Issuance fees*
​SAR 400  
Annual fee for main card SAR 388
Annual fee for supplementary card SAR 100
Replacement card fees SAR 34
Fees for issuing an international replacement card SAR 50-148
Cash withdrawal fees
 SAR 20 
​Cash withdrawal ON-US
​SAR 20 + OIF+15% on the OIF  
Additional statement SAR 20 
Transaction dispute SAR 50 
Optional Issuer Fees (OIF) for any transaction other than SAR 1.15%

All Fees are VAT exclusive
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FAQ

 

What is the payment due date on Tamkeen card?

Automatic payment on the 25th of each month. (Gregorian calendar)


Is it possible to pay the full amount due early?

Yes.


What is the limit on POS transactions?

100% of the available credit limit of the card. Taking into account the cash withdrawal limit.


What is the cash withdrawal limit on the card?

30% of the credit limit of the card.

 

Is there any profit margin if I decided to pay the card dues in installments?

No, there's no profit margin:


Month until balance Repaid* Minimum Repayment amount Credit card Monthly Rate** Annual Percentage Rate***
46 Months %5 or 200 SAR which higher 0% 0%

 

* Month until balance Repaid: assuming card limit is SAR 15,000 which is the maximum limit for this product, and customer did not re-use the card credit.

** Credit card monthly Rate: it's not applicable for this product.

*** Annual Percentage Rate: it's not applicable for this product.


If I decided to pay the minimum card due, how long do I need to pay back the full card dues?

Here is a real-life example for a customer purchases with an amount of SAR 15,000 

Ahmed made purchases using his Tamkeen credit card with an amount of SAR 15,000. Then, he decided to pay the card dues in very low monthly payment. 5% of the outstanding amount or SAR 200 whichever is higher. Below is an illustration of the payment process.

Months
 Amount due Automatically deducted Amount (5% or SAR 200 whichever is higher) The amount available in the card for Ahmed to be used again after the monthly payment
Month 1 15,000 750 750
Month 2 14,250 713 1,463
Month 3 13,538 677 2,139
Month 4 12,861 643 2,782
Month 5 12,218 611 3,393
Month 6 11,607 580 3,974
Month 7 11,026 551 4,525
Month 8 10,475 524 5,049
Month 9 9,951 498 5,546
Month 10 9,454 473 6,019
Month 11 8,981 449 6,468
Month 12 8,532 427 6,895
Month 13 8,105
 405 7,300
Month 14 7,700 385 7,685
Month 15 7,315 366 8,051
Month 16 6,949 347 8,398
Month 17 6,602 330 8,728
Month 18 6,272 314 9,042
Month 19 5,958 298 9,340
Month 20 5,660 283 9,623
Month 21 5,377 269 9,892
Month 22 5,108 255 10,147
Month 23 4,853 243 10,390
Month 24 4,610 231 10,620
Month 25 4,380 219 10,839
Month 26 4,161 208 11,047
Month 27 3,953 200 11,247
Month 28 3,753 200 11,447
Month 29 3,553 200 11,647
Month 30 3,353 200 11,847
Month 31 3,153 200 12,047
Month 32 2,953 200 12,247
Month 33 2,753 200 12,447
Month 34 2,553 200 12,647
Month 35 2,353 200 12,847
Month 36 2,153 200 13,047
Month 37 1,953 200 13,247
Month 38 1,753 200 13,447
Month 39 1,553 200 13,647
Month 40 1,353 200 13,847
Month 41 1,153 200 14,047
Month 42 953 200 14,247
Month 43 753 200 14,447
Month 44 553 200 14,647
Month 45 353 200 14,847
Month 46 153 153 15,000



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