One of the most important advantages of Personal Finance via local shares is the customer's access to cash within 15 minutes of sending the request, through buying the shares then selling them immediately or transferring them to the customer's trading portfolio. All buy & sell /transfer transactions are carried out by a simple push of a button, which gives instruction to the stock-trading system to trade the shares in the market at their direct price. This enables the customer to complete the purchase &sale /transfer operations while being present in the bank branch. Why Local Shares In Particular? It is a Sharia'h compliant financing formula, based on selling local stocks, where the bank buys and owns the stocks and afterward sells them to the customer on credit at the cost price plus the agreed profit margin. The customer shall have the right to dispose those shares by reselling them and getting the fund or retaining them in his portfolio.
- Compatible with the provisions of Islamic Sharia
- Obtaining finance within 15 minutes
- Immediate cash deposit to the customer's account in case of selling
- Freedom to keep the shares for investment or to get cash to meet your needs
- The amount of "Tayseer Alahli" local shares ranges from 5000 Riyal up to half million Riyal
- Easy installments repayment programs for periods up to 5 years
- Possibility of postponing the installment of the month of Ramadan
- Insurance in the event of disability or death
- Financing 2 in 1 (Personal Finance and Residential Finance for maximum benefit)
- The need for a sponsor is not required
- Management fees 1% of the amount of financing and not exceeding SAR 5000 maximum
Additional InformationTerms and Conditions apply Annual profit rate starts from 2.92% for a 5 year term Admin fees at 1% of the finance amount, maximum of SAR 5,000
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