Bank AlJazira offers a lease financing product based on the principle of leasing and compatible with the provisions of Islamic Sharia to serve all segments of customers under the umbrella of individual banking products, where Bank AlJazira owns the car according to the customer's choice in proportion to his desire and income to meet and achieve all his needs and lease it for a specified period and wage.

Competitiveness in terms of the flexibility of the down payment, the monthly Leasing installments, the last ownership payment and the promise of ownership.

For more information, please call the AlJazira phone 8002449999 or visit the sales representative for leasing financing in the showrooms of agents, authorized distributors or one of Bank AlJazira branches.

An overview of the car lease finance product

Product features and advantages:
  • Fast initial credit approval.
  • The lease term starts from 12 months and up to 60 months.
  • Comprehensiveness of all car brands.
  • Lease financing up to 500 thousand riyals Per Car Maximum 3 Cars.
  • Comprehensive vehicle insurance covering the Kingdom of Saudi Arabia and the Arab Gulf states throughout the rental period.
  • Driving authorization for additional driver for the duration of the contract.
  • A “competitive” down payment compared to competing products.
  • A sales representative specialized in car showrooms, agencies and authorized distributors.
  • Available to Saudis and residents in the Kingdom.
  • Annual percentage rate starts from 3.67%.

Requirements for obtaining a lease financing product

Employees and retirees:
  • Income starts with a minimum of 8000 riyals, according to the customer segment.
  • Age starts with 20 years for the client.
  • With a service period starting with one month and a maximum of 6 months, according to the customer segment.

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

pdf-icon-70Auto Lease Eligibility
 

Auto Lease Categories

Lease Finance Product

 Properties

Traditional

It provides customers with the possibility of leasing for a period of up to five years, with a financing amount of up to 500,000 Saudi Riyals Per Car, and with wide options for all types of cars.

The Most Flexible

It provides customers with the possibility of leasing for a lease period starting from one to five years.

 

 
  • The sales coverage is (Jeddah – Makkah – Riyadh).
  • We are  serving the BAJ customers with Salary transfer for the time being.

Risk Related to Auto Lease

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Bank AlJazira, A Saudi Joint Stock Company, Fully paid capital SAR 8,200,000,000, Commercial Registration No: 4030010523, Head office: Jeddah – Saudi Arabia, P.O. Box 6277
Jeddah 21442 Telephone: +966 12 609 8888 – Fax +966 12 609 8881, National Address: Bank AlJazira – King Abdulaziz Branch Rd – Ash Shati District Building No. 7724
Zip code 23513, Additional No. 3551, unit No.1 Website: www.baj.com.sa, Bank AlJazira is under the supervision of Saudi Central Bank