Types of Car Loans
Al-Rajhi Bank offers 1 type of car loan:
Al-Rajhi Bank Automobile Financing-i: The Al-Rajhi Bank Automobile Financing-i is a car financing plan that offers you financing for the purchase of a car at attractive profit rates.
Features & Benefits
Let’s take a look at the features and benefits of Al-Rajhi Bank Car Loan:
- The Al-Rajhi Bank Car Loan comes with a high margin of financing for your vehicle purchase that has a maximum limit of up to 80-90% of the vehicle’s price.
- The repayment tenures with this facility are affordable and flexible. You can choose from a range of tenures that has a maximum limit of up to 7-9 years depending upon the package.
- The facility comes with a fast approval.
The profit rates offered with the Al-Rajhi Bank Car Loan are decided upon taking the loan amount and tenure into consideration.
The following are the eligibility criteria of Al-Rajhi Bank Car Loan:
Age Requirement: The applicants must be 18 years or older at the time of Al-Rajhi Bank Car Loan application.
Income Requirement: The applicants must have a basic income of RM3,500 per month or more in order to be eligible for the Al-Rajhi Bank Car Loan application.
In order to get the Al-Rajhi Bank Car Loan, you need to present the following documents at the time of application:
- Driver’s license.
- Pay slips for the last 3 months.
- Bank statement for the 3 latest months.
- Seller/Dealer’s quotation or invoice.
How To Apply
Offline Application: You can directly walk into the nearest Al-Rajhi Bank in order to get the Al-Rajhi Bank Car Loan. You can also fax the required documents along with the filled out application form for the same to the bank. Another way to approach the Al-Rajhi Bank Car Loan application is by putting in your request telephonically via the bank’s customer service numbers
Online Application: You can also apply for the Al-Rajhi Bank Car Loan online at the official website of the bank. You need to fill out the application form available online with required details and submit it along with all your supporting documents.