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Auto Ijarah
Sharia Structure
We, at your request, purchases the desired car from an authorized dealer/seller and leases the car to you for an agreed tenure against a monthly Rental. During the lease period you pay us the monthly rentals and at the end of the lease, we transfers the ownership of the car to you.
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Balloon Payment & Balloon Refinance Option
To make your monthly rentals affordable, we give you the choice to opt for Balloon payment.
You have the option to choose Balloon Payment at the time of applying for lease.
Balloon payment option enables you to pay a lump sum amount with your last rental installment hence this helps you to have lower monthly rentals.
To facilitate you further, in case if you are not in a position to pay the Balloon Payment with your last rental, we give the option to lease the Balloon Payment amount & pay the same in the form of monthly rentals in up to 24 installments .
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Leasing Roadmap
Setting new standards in Auto Leasing
We are committed to constantly developing better products and quality service for our customers. Our competitive and flexible Car Leasing product gives you the freedom to lease a cars in a quick and easy manner while remaining true to Shariah principles.
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Motor Insurance
Comprehensive Motor Insurance throughout the leasing period.
The car leased by you under Auto Ijarah structure is comprehensively insured throughout the lease period hence you need not to worry about the Insurance of the leased car.
Car Lease Calculator
Your Monthly Repayment
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Enter information to calculate your car finance plan
Your Finance Amount
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APR
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* Terms and Conditions
This calculator and is intended for use as a guide only. Results calculated do not constitute an offer and have no legal effect on any contracts signed between you nd Al Rajhi Bank.
Avoid Risks, get the safe finance solution:
Get the most secure finance, Al Rajhi bank customers can obtain refinance at competitive rates, without going to unreliable financers. Avoid risks, and benefit from Al Rajhi bank solutions with the peace of mind that you deserve.
Auto Lease to Own Product Features
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Shariah Compliant
Acquire a vehicle in a Shariah compliant manner. All programs are approved and monitored by our Shariah Board.
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Flexible Finance
We offer relaxed eligibility with a flexible finance tenor period to meet your individual needs.
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High Finance Amounts
We offer a zero downpayment option as well as car financing up to SAR 2 million.
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Uncomplicated Finance
We offer straightforward auto financing with no hidden fees or penalties for early settlement.
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Extended Warranty
Auto lease financing comes with an extended warranty for the entire lease tenor for faults that are not caused due to negligence.
Enjoy Offers with Auto Lease to Own Finance
Leased Cars Come with Vehicle Insurance as Standard
Saudi Arabia records 526,000 road accidents annually
Vehicle insurance covers you against damages to your own vehicle and indemnities to third party vehicles.
How to Apply
Salary Transfer Customers
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SAUDI NATIONALS
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NON SAUDI NATIONALS
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RETIREE
Here are the things that we’ll need from you…
Eligibility & Criteria
- Minimum income requirement starting from SAR 2000
- Maximum age of 65 years
Required Documents
- Quotation
- Completed Application form
- Copy of Valid Saudi ID
- Employment letter
FOR ENQUIRIES CALL:
+9668001241222Here are the things that we’ll need from you…
Eligibility & Criteria
- Minimum income requirement starting from SAR 2000
- Maximum age of 65 years
Required Documents
- Quotation
- Completed Application form
- Copy of Valid Saudi IQAMA
- Copy of Passport
- Employment letter
FOR ENQUIRIES CALL:
+9668001241222Here are the things that we’ll need from you…
Eligibility & Criteria
- Minimum monthly requirement starting from SAR 1900
- Maximum age for Retired Customers: 65 years or less at the time of the lease maturity
Required Documents
- Quotation
- Completed Application form
- Copy of Valid ID for Saudi National
- Bank statements for the last six months
FOR ENQUIRIES CALL:
+9668001241222How to Apply
Non Salary Transfer Customers
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Am I Eligible?
Here are the things that we’ll need from you…
Eligibility & Criteria
- On Job Customers: SAR 2000
- Retired customers: SAR 1900
- On Job Customers: 60 years or less at the time of lease maturity
- Retired Customers: 65 years or less at the time of lease maturity
Minimum income requirement:
Max Age
Required Documents
- Quotation
- Duly Filled Application form
- Copy of Driving License
- Copy of Valid ID for Saudi National
- Copy of Iqama for Expats
- Copy of Residence Visa for Expats
- Employment letter for on job applicants
- Proof of income for Retired applicants
- Last six month bank statement
FOR ENQUIRIES CALL:
+9668001241222Download our Car Lease Guide
Auto Lease to Own Finance
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What is Flexi Auto Finance?Flexi Auto Finance is structured under the shariah principle of Ijara where Al Rajhi Bank buys the car from the seller first and post-acquisition leases it to the customer over an agreed period. During the Lease period the customer pays rent and at the end of the lease period bank transfers ownership of the vehicle to the customer.
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What is the shariah structure of Flexi Auto?Flexi Auto Finance is structured under the Islamic Principle of “Ijara”.
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Are there any administrative fees?We charge an admin fee of 1% of Finance Amount (or SAR 5,000, whichever is lower)