Eligibility criteria and income
To be eligible for digital financing from Bank Albilad, you must be at least 18 years old and be an employee of one of the institutions approved by the bank. Monthly net income requirements vary for Saudi citizens, who must prove at least SAR 3,000, and non-Saudis (expatriates), who must have a minimum income of SAR 3,500 or more.
Remember that, although salary transfer to Albilad is the general rule to maintain the best rates, employees of other banks may also find financing options without this requirement in specific cases.
What is the process in the application like?
The application process for digital financing from Bank Albilad is intuitive: log in to the Albilad application and look for the shopping cart icon at the bottom of the screen. Select “Personal Financing”, choose the desired option (New, Additional or Refinancing) and follow the steps to fill in the information.
The system will request data about your occupation and income, and if you are an employee of an accredited company and already have salary transfer to Albilad, the analysis is usually extremely fast. Therefore, check the list of accredited companies to understand how the process will be.
Author’s advice
Our golden tip is: if you already have digital financing from Bank Albilad and need more flexibility, do not wait until your limit is exhausted. Additional financing can be requested only 3 months after the last disbursement, which is an excellent timeframe for those in a phase of business expansion or home renovation.
Keep your record with SIMAH (Saudi credit bureau) impeccable, because the better your level of financial commitment, the closer you will get to the minimum APR rates, such as the 4.74% mentioned in the previous example.
How to apply for digital financing from Bank Albilad?
You do not need to leave where you are, as mentioned earlier. Download the Bank Albilad application or, if you prefer the traditional method, visit one of the branches or call the contact centre at 8001236666. The future of your finances is just a few clicks away.
Ready to simplify your financial life with the security of a well-established bank? Click the button below to download the app or access the Bank Albilad portal!
