Financing amount up to SAR 7.5MM, *without Down payment and admin fees
Al Rajhi Bank provides Fleet Finance product that support enterprises Micro and Small Businesses to purchase multiple vehicles (personal and/or commercial vehicles) through leasing financing
Features and Benefit:
- Finance amount up to SAR 7.5 Million Except for cars for personal / executive use, the maximum limit is up to SAR 2 Million.
- Without Down payment.
- Without admin fees.
- Finance tenure starting from 12 months up to 60 months.
- Equal repayment through Monthly Installments.
- Coverage insurance included.
Al Rajhi Bank Term and Condition applied.
*Without Down payment for specific categories
Specifications for the car displayed and the image may vary for the purpose of advertising only.
Al Rajhi Bank is controlled and supervised by SAMA.
Offer is valid for new requests that executed before 28 April 2022
How to Apply:
- Please visit your nearest Al Rajhi Bank branch.
- Contact SME and POS customer care 920018799
- Apply Online
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 1:
|
Asset Type |
Loan/Finance Amount |
Maturity in Years |
APR |
Down Payment |
Monthly Repayment Amount |
|
Car |
200,000 SAR |
3 Year |
15,56% |
0% |
6,889 SAR |
Illustration 2:
|
Asset Type |
Loan/Finance Amount |
Maturity in Years |
APR |
Down Payment |
Monthly Repayment Amount |
|
Car |
200,000 SAR |
3 Year |
17.51% |
0% |
7,055 SAR |
Illustration 3:
|
Asset Type |
Loan/Finance Amount |
Maturity in Years |
APR |
Down Payment |
Monthly Repayment Amount |
|
Car |
200,000 SAR |
3 Year |
17.51% |
0% |
7,055 SAR |
Illustration 4:
|
Asset Type |
Loan/Finance Amount |
Maturity in Years |
APR |
Down Payment |
Monthly Repayment Amount |
|
Car |
200,000 SAR |
3 Year |
19.47% |
0% |
7,222SAR |
*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.