Fleet Finance for Micro, Small and Enterprises..
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 tenure starting from 12 months up to 60 months*.
- Finance amount up to SAR 5M*.
- Equal repayment through Monthly Installments.
- Down payment starting from 5%.
- Coverage insurance included.
Al Rajhi Bank Term and Condition applied.
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.
For more information about the product and the calculation mechanism call 920018799
How to Apply:
- Please visit your nearest Al Rajhi Bank branch
- Contact SME and POS customer care 920018799
- Apply Online
- Offer is valid until Jun 15, 2021.
Terms and Conditions Applied
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: “Private Vehicles”
| Asset Type | Loan/Finance Amount | Maturity in Years | APR | Down Payment | Monthly Repayment Amount |
| Car | 45,000 SAR | 1 Year | 18,15% | 5% | 3,895 SAR |
| Car | 54,000 SAR | 3 Years | 17,33% | 10% | 1,711 SAR |
Illustration 2: “Commercial Vehicles”
| Asset Type | Loan/Finance Amount | Maturity in Years | APR | Down Payment | Monthly Repayment Amount |
| Car | 62,000 SAR | 1 Year | 18,15% | 5% | 5,366 SAR |
| Car | 75,000 SAR | 3 Years | 17,11% | 10% | 2,370 SAR |
Illustration 3: “Rent A Car Businesses”
| Asset Type | Loan/Finance Amount | Maturity in Years | APR | Down Payment | Monthly Repayment Amount |
| Car | 70,000 SAR | 1 Year | 18,15% | 5% | 6,059 SAR |
| Car | 80,000 SAR | 3 Years | 17,11% | 10% | 2,528 SAR |
*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.