National Day Offer

Salary Transferred Customers to alrajhi bank

1. *Down payment starting from 0%.
2. Admin Fees 0%.
3. *Balloon Payment up to 45%.
4. Term 60 Months
5. Low Annual Percentage Rate (including insurance) starting from 8.98%.

Non-Salary Transferred Customers

1. * Down payment starting from 0%.
2. Admin Fees 0%.
3. Balloon Payment up to 40%.
4. Term 60 Months.
5. Low Annual Percentage Rate (including insurance) starting from 10.82%.

National Day Offer Terms & Conditions:

1. National Day offer covers the first three installments only.
2. Full installment will be deducted as per the payment schedule.
3. Customer is responsible for insurance cost during the lifetime of financing contract.
4. After deducting the installment, the installment will be refunded within 5 business days from the payment date after deducting the insurance cost, SR 94, and any other costs.
5. Offer including the following car brands from dealers and sub-dealers included in the: Toyota, Lexus, Mazda, Honda, Nissan, Ford, GM, Chevrolet, Isuzu, Hyundai, Kia, Mistsubishi, Chrysler, Dodge, Jeep, Suzuki, Volkswagen, Audi, Mercedes, BMW, Porsche, Range Rover, Infiniti, Citroen, MG, Renault, Seat, Skoda, Feat, Subaru, Opel, Mini Cooper, Ssang Yong, TATA, Volvo, Cadillac, Havel, Chevrolet Corvette & Chevrolet Camaro, Lincoln, Land Rover, Peugeot, Geely, Jaguar, Lucid, Genesis, all other approved Chinese cars.
6. Customer will not be eligible for the offer in case of early paying any of the first 3 installments.
7. Customer will not be eligible for the offer in case of late payment of any of the first 3 installments.
8. Leasing tenure is 60 months.
9. Offer valid from September 15, 2024 until September 30, 2024, and financing contract must be executed within 10 days of end of offer.
10. Pre-owned cars are included on the offer (sayarah website).

Examples: 

Example 1: Salary Transferred Customers 

Example 2: Non-salary transferred

* APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer. *Above examples are for customers of Government and Semi – Government sector

How to apply

1. Please visit your nearest alrajhi bank branch, or visit any dealer’s showrooms. Or call 8001241222
2. Apply online
3. Al- Rajhi Bank Applications (IOS - Android)

Terms and Conditions 

1. Terms and conditions are applying
2.  Offer is valid until 30 September 2024 
3. Financial Calculator.
   

   *alrajhi bank is controlled and supervised by SAMA

   The Annual Percentage Rate (APR):

   It is the discount rate at which the present value of all payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.

   Illustration:

   Asset Type	Finance Amount		Maturity in Years	APR	Monthly Repayment Amount	Residual Value
   car	100,000		5 years	8.61%	1,501	40,000

   *APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.

   Finance Amount:

   The contract stipulates the amount of financing you will receive in addition to the period of repayment of the installments, stating their value and the maturity date of these installments. The data also include the cost of obtaining funding in terms of knowing the fixed term cost rate and management fees.

   Maturity In Years:

   The duration of the contract agreed upon between the parties, which shall indicate the date and expiry of the contract with the parties with the terms of the contract

   Monthly repayment amount:

   These payments are recognized in the contract, and the lessee is obliged to pay them on the due dates. The contract shall also include a schedule of repayment installments, in which the value of the asset's rent and the value of the right of ownership shall be shown separately, provided that the premium for any period shall not be less than the principal's rent for that period in the contract.

   Residual Value:

   The last payment is usually to 50% of the car price which you decide to pay at the end of the lease. It makes the monthly rentals that you pay less, but you have to be ready to make a large payment at the end of the lease.