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Individual ijara – Lease financing product 50% -50%the customer pays 50% down payment, and a final payment (Balloon payment) of 50% that due at the end of the leasing period after two years to own the vehicle, after paying the last payment.
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Key Features
- Sharia-compliant financing of up to 800,000 SR.
- No salary transfer required
- Available to Saudis and residents in the Kingdom
- Available for new and used cars.
- Fast to obtaining approvals and completing procedures
- Flexible 50% down payment and 50% Balloon payment after 2 years of leasing.
- Comprehensive car insurance coverage for the entire rental period
- Multiple options to terminate the contract or own the car during the contract period or at its end
- SFL Mobile application for easy access to the services available in the application
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Conditions
- An employee with a period of service not less than 3 months.
- Fill out a financing request form.
- Total salary of not less than 8000 SR.
- Terms and Conditions applies.
Required Document
| Document | Government Sector | Privet Sector | Saudi | Non-Saudi |
|---|---|---|---|---|
| Salary certificate including basic salary + basic allowances with mention of the job title | ✔ |
✔ |
✔ |
✔ |
| certified by the Chamber of Commerce for the private sector | ✔ | ✔ | ✔ | |
| Valid National ID/Iqama | ✔ |
✔ | ✔ | ✔ |
| Social Insurance Certificate | ✔ | ✔ |
✔ | |
| Account statement for the last 3 months | ✔ |
✔ | ✔ | |
| Account statement for the last 6 months | ✔ | ✔ | ✔ | |
| Valid driver's license | ✔ |
✔ | ✔ | ✔ |