Details of the personal refinancing program from Saudi Bank Albilad

yousef27 April 2022Last Update : 2 years ago
Details of the personal refinancing program from Saudi Bank Albilad

The Economy website displays the details of the personal refinancing program from Bank AlbiladSaudi Arabia.

Bank Albilad offers a personal refinancing program that allows you to pay off any existing personal financing contract by obtaining a new personal financing with a higher financing ceiling and a new repayment period according to your desire and according to the terms and conditions.

The main advantages of the personal refinancing program from Bank Albilad

Complies with the regulations of the Shariah Committee of Bank Albilad
The possibility of purchasing shares of any company within the list of shares approved by the Shariah Committee and specified by the Bank.
Possibility to postpone an installment every year
The possibility of obtaining a payment deferment at the beginning of the financing installments.
Quick completion of all client financing application procedures.
Flexible repayment period of up to 60 months.
Financing up to 2,000,000 SAR.
The possibility of early repayment at any time based on the controls of the Saudi Central Bank.
The ability to pay in installments commensurate with the customer’s monthly income.
A sponsor is not required to obtain financing.
Possibility of financing retired clients.

the conditions

It is required to pay 20% of the existing contract and there are no outstanding arrears for the contract.
The customer must be working in one of the establishments approved by the bank in the public or private sectors
The customer’s monthly net income shall not be less than 3,000 Saudi riyals for Saudi customers and 3,500 for non-Saudi customers in government sectors or based on the classification of the employer.

Required Documents

To ensure that your application is completed quickly and smoothly, please make sure to provide the following documents when submitting your application:

Valid customer identification document.
Fill out an acknowledgment and disclosure of the client’s personal obligations.
A copy of the work card for employees of the military sectors.
Fill out the entire “Installment Purchase Request” form.
A definition from the employer, including the monthly salary, the job title, and the start date of joining the work.

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