Car Finance Solutions
The bank offers a range of Shariah compliant leasing and financing solutions suitable for all customer segments.
Leasing Product
A product that offers customers facilities that allow them to buy a new car through deferred monthly installments. The new vehicle would be under the ownership of Al Rajhi Bank and then leased to the customer upon receiving his signature.
The customer receives a "car rental contract" in exchange for a monthly payment for a specified period agreed upon by both parties. The vehicle is owned by the bank until the customer pays the full amount owed.
Detailed in the agreed contract include specified payment dates excluding any delays in addition to the agreed upon down payment.
Murabaha Product
The purchase of a car in monthly installments through the bank which is directly registered in the customer’s name, provided the full amount is paid off in a period that does not exceed 60 months
Transfer of Contract
A program that allows customers to transfer their contract/ vehicle to another customer as per the credit terms and conditions set and approved by the bank.
mokafaa is now even more rewarding, as you can earn points across your bank product portfolio! mokafaa points can be redeemed in store or online with leading brands, transferred to your friends, family or charity
Insurance
The bank provides a minimum of three comprehensive insurance offers as per the rules and regulations. The most affordable offer is then chosen.
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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Total Financing Amount Payable
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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.
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 are the requirements for which non Saudi without a salary transfer receive auto leasing?
- Minimum salary of 5,000 SAR .
- Minimum duration of service at the current job should be 6 months to confirm employment status and to transfer 2 salaries to Al Rajhi Bank or the last salary to Al Rajhi Bank and the previous 2 salaries to other banks.
- Eligible customers should be between 21 and 60 years of age.
- Employer must be accredited.
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What are the requirements for which Saudis receive auto financing through Murabaha?
- Minimum salary of 2,000 SAR .
- Minimum duration of service at the current job should be one month to confirm employment status.
- Customers between the ages of 21 and 60 years are eligible for financing.
- Employer must be accredited.
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What are the requirements for which retirees receive auto financing through Murabaha?
- Minimum salary of 1,900 SAR.
- Eligible customers cannot be older than 70 years of age.
- Employer must be accredited.
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What are the requirements for which military personnel receive auto financing through Murabaha?
- Minimum salary of 2,000 SAR.
- Minimum duration of service at the current job should be one month to confirm employment status.
- Eligible customers should not be younger than 21 or older than their required retirement age.
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What are the requirements for which non Saudi receive auto financing through Murabaha?
- Minimum salary of 2,000 SAR.
- Minimum duration of service at the current job should be 12 months to confirm employment status.
- Eligible customers should be between 21 and 60 years of age, subject to employment status confirmation.
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What are the requirements for which Saudis with a salary transfer receive auto leasing?
- Minimum salary of 2,000 SAR .
- Minimum duration of service at the current job should be one month to confirm employment status and to transfer 2 salaries to Al Rajhi Bank or the last salary to Al Rajhi Bank and the previous 2 salaries to other banks.
- Minimum of 3 months’ salaries transferred to Al Rajhi Bank are required by some employees.
- Eligible customers should be between 18 and 60 years of age (financing period + customer’s age = 60)
- Employer must be accredited.
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What are the requirements for which military personnel with a salary transfer receive auto leasing?
- Minimum salary of 2,000 SAR .
- Minimum duration of service at the current job should be one month to confirm employment status and to transfer 2 salaries to Al Rajhi Bank or the last salary to Al Rajhi Bank and the previous 2 salaries to other banks.
- Minimum of 3 months’ salaries transferred to Al Rajhi Bank are required by some employees.
- Eligible customers should not be younger than 18 or older than their required retirement age.
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What are the requirements for which retirees with a salary transfer receive auto leasing?
- Minimum salary of 1,900 SAR .
- Eligible customers should not be older than 60 years of age.
- Employer must be accredited.
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What are the requirements for which retirees without a salary transfer receive auto leasing?
- Minimum salary of 4,000 SAR .
- Eligible customers should not be older than 65 years of age.
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What are the requirements for which Saudis without a salary transfer receive auto leasing?
- Minimum salary of 5,000 SAR .
- Minimum duration of service at the current job should be 6 months to confirm employment status and to transfer 2 salaries to Al Rajhi Bank or the last salary to Al Rajhi Bank and the previous 2 salaries to other banks.
- Eligible customers should be between 18 and 60 years of age.
- Employer must be accredited.
- Customer’s headquarters must be located in the following cities: Riyadh, Jeddah, Dammam, Khobar, and Jubail for military personnels.
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What are the requirements for which military personnel without a salary transfer receive auto leasing?
- Minimum salary of 5,000 SAR .
- Minimum duration of service at the current job should be 6 months to confirm employment status and to transfer 2 salaries to Al Rajhi Bank or the last salary to Al Rajhi Bank and the previous 2 salaries to other banks.
- Eligible customers should be between 18 and the required retirement age.
- Employer must be accredited.
- Customer’s headquarters must be located in the following cities: Riyadh, Jeddah, Dammam, Khobar, and Jubail for military personnels.