| Minimum Salary | Salary Transfer | Early Settlement Fees | Maximum Term | Flat Rate | Reducing Rate | |
|---|---|---|---|---|---|---|
Bank AlJazira - Auto Lease
|
Minimum Salary: SAR 5,000 | Salary Transfer: Yes | Early Settlement Fees: 1% | Maximum Term: 5 Years | Flat Rate: 6.77% | Reducing Rate: - |
Bank AlJazira offers Auto lease product based on Islamic Sharia under the umbrella of Consumer Finance products.
Auto lease product features:
- Quick approval
- Flexible payment
- Convenient installments
For more information, please call the AlJazira phone 8002449999 or visit the sales representative for Auto lease product in the showrooms of agents, authorized distributors.
* Terms and conditions apply
Product features and advantages:
- Fast credit approval if conditions are met.
- The lease term starts from 12 months and up to 60 months.
- Comprehensiveness of all car brands.
- Lease of up to 500,000 riyals per car, with a maximum of 3 cars.
- Comprehensive vehicle insurance covering the Kingdom of Saudi Arabia and the Arab Gulf states throughout the rental period.
- Driving authorization for additional drivers for the duration of the contract.
- A “competitive” down payment and an unprecedented balloon payment.
- A sales representative specialized in car showrooms, agencies and authorized distributors.
- Available to Saudis and residents.
- Annual percentage rate (APR) starts from 9.73%. Including insurance
** Calculator Definitions
Amount:
The total amount of money borrowed, also referred to as the principal amount.
Rate (%):
This is the annual interest rate on the product which is equivalent to APR, which is going to be calculated in this example.
Years:
This is the original term or length of the product, stated in years.
Effective Monthly Payment:
This is the effective monthly payment, which takes into consideration fees and other costs associated with this product. The effective monthly payment is the basis for the APR calculation.
Calculated Annual Percentage Rate (%):
The Calculated Annual Percentage Rate (APR) is determined using the annual interest rate of the product plus fees and other costs. This rate may differ from bank to bank. APR is useful when comparing two or more products with different interest rates and fee structures.
Representative Example Calculator
