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 

An overview of the Auto lease product


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 6.77%. Including insurance

Requirements for obtaining an Auto lease product

The following table shows each segments with details of income, age, duration, service and required documents:

Customer Segment Civil government employee whose salary is transferred to Bank AlJazira
Income 5000 Riyals Minimum
Duration of service 1 Month Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A valid ID copy.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
Customer Segment Military government employee whose salary is transferred to Bank AlJazira
Income 5000 Riyals Minimum
Duration of service 3 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A valid ID copy.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
Customer Segment Retirees whose salaries are transferred to Bank AlJazira
Income 5000 Riyals Minimum
Duration of service 3 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A valid ID copy.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
Customer Segment Private sector employee whose salary is transferred to Bank AlJazira
Income 7000 Riyals Minimum
Duration of service 6 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A valid ID copy.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
Customer Segment Semi-governmental sector employee salary transfer to Bank AlJazira
Income 7000 Riyals Minimum
Duration of service 3 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A valid ID copy.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
Customer Segment Civil government employee whose salary is transferred to Other Banks
Income 8000 Riyals Minimum
Duration of service 1 Month Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A copy of a valid ID.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
  • Social insurance certificate.
  • Account statement for the last 3 salaries.
  • Active personal current account at Bank AlJazira. To open a current account click here.
Customer Segment Military government employee whose salary is transferred to Other Banks
Income 8000 Riyals Minimum
Duration of service 3 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A copy of a valid ID.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
  • Social insurance certificate.
  • Account statement for the last 3 salaries.
  • Active personal current account at Bank AlJazira. To open a current account click here.
Customer Segment Retirees whose salaries are transferred to Other Banks
Income 8000 Riyals Minimum
Duration of service 3 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A copy of a valid ID.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
  • Social insurance certificate.
  • Account statement for the last 3 salaries.
  • Active personal current account at Bank AlJazira. To open a current account click here.
Customer Segment A semi-governmental sector employee whose salary is on Other Banks
Income 10,000 Riyals Minimum
Duration of service 6 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A copy of a valid ID.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
  • Social insurance certificate.
  • Account statement for the last 3 salaries.
  • Active personal current account at Bank AlJazira. To open a current account click here.
Customer Segment Private sector employee whose salary is transferred to Other Banks
Income 10,000 Riyals Minimum
Duration of service 12 Months Minimum
Age 20 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A copy of a valid ID.
  • A copy of a valid driver's license.
  • Salary certificate from the employer.
  • Social insurance certificate.
  • Account statement for the last 3 salaries.
  • Active personal current account at Bank AlJazira. To open a current account click here.
Customer Segment Sole Proprietorship or Self-Employed
Income An average rate of income of one hundred thousand riyals per month/year
Duration of service 24 Months from the date of establishment of the institution
Age 25 Years Minimum
Required Documents
  • Vehicle Quotation.
  • A copy of a valid ID.
  • A copy of a valid driver's license.
  • A copy of a valid commercial register.
  • Corporation account statement for the last 12 months.
  • Income proof certificate.
  • An audited financial statement for a period of 24 months approved by the Saudi Organization for Auditors and Accountants.
  • Active personal current account at Bank AlJazira. To open a current account click here.

Auto Lease Programs

Programs Description
Flexible The program enables customers to customize monthly payment and select tenure for more convenience. with the possibility of leasing for a lease period starting from two to five years, which allows the customer to reduce the value of the monthly installment to reduce financial burdens.
50% - 50% The program allows customers to pay 50% advance payment and 50% last payment, with the possibility of leasing for a lease period starting from two to five years
Certified Pre-Owned (at accredited showrooms) To be launched soon

Offers

Car Model Monthly Installment Down Payment Balloon Payment Admin Fees APR
Mazda 6 SAR 1,300 0.00% 45% 1% 7.31%
TOYOTA Fortuner SAR 1,615 0.00% 50% 1% 7.19%
Mazda CX-9 SAR 1,807 0.00% 45% 1% 7.31%
TOYOTA HIGHLANDER SAR 1,911 0.00% 50% 1% 7.19%
Offer Duration
Offer starts 01 Nov 2022 subject to availability and is valid through 31 Dec 2022
 
Disclaimers
  • Monthly Installment & APR were calculated based on 2.2% insurance rate and 5 years lease term for payroll customers
  • The offer is for demonstration purpose only, customer may choose the desired down payment amount and design the monthly installment that suits his needs
  • The car specifications are for advertising purposes, they may be different than those available in the dealer showroom as well as the published price
  • The monthly installment was calculated based on the price of the car standard class
  • Terms and conditions of the bank and the dealer are severally applied
  • The bank does not represent the dealer
 

For more information, please call 8002449999 or visit the nearest lease center or any of BAJ branches.

Risk Related to Auto Lease