Bank AlBilad Personal Finance

Minimum Salary needed SR 3,000 per month
Maximum amount available Not mentioned
Length of Loan 5 years
Profit Rate Not mentioned
Upfront Fees ( if any ) Not mentioned
Eligibility The customer must not be less than 18 years of age; The customer, or guarantor if applicable, must be an employee of a public or private sector installation approved by Bank Albilad, with at least three (3) months of services for public sector employees and one (1) year for private sector employees; The customer, or guarantor if applicable, must transfer their salaries to their current accounts with Bank Albilad using the SWIFT deposit system; Service duration may vary from an area to another
Main Features This is a Sharia-compliant financing service sanctioned by the Bank's Sharia Board. The Bank profit is determined in advance. It does not include any increases not agreed upon in case of delay in payment. Shares are bought only after they have been endorsed by the Bank's Sharia Board; The customer can buy any shares as he desires within the credit limit made available to him by the Bank; The customer is required to open a current account with BAB and enjoy all advantages of such account; Financing procedures are completed promptly