Leasing Motor Bikes
Salary Transferred Customers to alrajhi bank
- *Down payment 10%.
- *Admin Fees 1% or 5,000 SR which is less
- *Balloon Payment Not available
- Term 60 Months.
- Low Annual Percentage Rate (including insurance) starting from 17.40 %
Example 1 : Leasing Motor Bikes Salary Transferred Customers
| Asset Type | Loan/Finance Amount | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
|---|---|---|---|---|---|
| Bike | 50,000 SAR | 5 years | 17.40% | 1.087 | N/A |
Non-Salary Transferred Customers
- Down payment 15%.
- Admin Fees 1% or 5,000 SR which is less
- *Balloon Payment Not available
- Term 60 Months.
- Low Annual Percentage Rate starting from 18.96%
Example 2 : Leasing Motor Bikes Non-Salary Transferred Customers
| Asset Type | Loan/Finance Amount | Down payment | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
|---|---|---|---|---|---|---|
| Bike | 50,000 SAR | 5,000 SAR | 5 years | 9.87% | 1,057 | N/A |
Finance Motor Bikes Salary Transferred Customers
- *Down payment 0%.
- *Zero Admin 1%
- *Balloon Payment Not available
- Term 36 Months.
- Low Annual Percentage Rate (including insurance) starting from 19.66%
Example 3 : Finance Motor Bikes Salary Transferred Customers
| Asset Type | Loan/Finance Amount | Down payment | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
|---|---|---|---|---|---|---|
| Bike | 50,000 SAR | N/A | 3 years | 4.55% | 1,723 | N/A |
Terms and Conditions
- Terms and conditions are applying
- Offer is valid until 17 March 2024
alrajhi bank is controlled and supervised by SAMA
Definitions
Illustration:
| Asset Type | Loan/Finance Amount | Maturity in Years | APR | Monthly Repayment Amount | Residual Value |
|---|---|---|---|---|---|
| Car | 75,000 SAR | 3 years | 7.04% | 1,345 | 37,500 |
*APR may differ depending on the amount and the maturity period different from above and subject to credit scoring of each customer.
The Annual Percentage Rate (APR):
It is the discount rate at which the present value of all payments and installments that are due from the Borrower, representing the Total Amount Payable by the Borrower, equals the present value of all payments of the Amount of Financing available to the Borrower on the date on which the Financing amount or the first payment thereof is available to the Borrower.
Finance Amount:
The contract stipulates the amount of financing you will receive in addition to the period of repayment of the installments, stating their value and the maturity date of these installments. The data also include the cost of obtaining funding in terms of knowing the fixed term cost rate and management fees.
Maturity In Years:
The duration of the contract agreed upon between the parties, which shall indicate the date and expiry of the contract with the parties with the terms of the contract.
Monthly repayment amount:
The last payment is usually to 50% of the car price which you decide to pay at the end of the lease. It makes the monthly rentals that you pay less, but you have to be ready to make a large payment at the end of the lease.
Residual Value:
Not available
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