Al Rajhi Bank

Al-Rajhi Automobile Financing-i

Getting your dream car doesn't mean a bumpy ride - enjoy fast approval and profit cash-back for early ownership

    • Up to 9 years tenure
    • Fixed Islamic financing
    • Flat profit rate
    • Up to 90% margin of finance
  • ConditionOriginMaximum YearsMargin of FinanceProfit Rate
    NewLocal9 years90%4.4% p.a.
    Foreign9 years90%4.4% p.a.

Fees & Charges

There are always fees but how much are they?

Profit Rate for New Cars
from as low as 4.4% p.a., depending on car brand, borrowing amount, and period.
Stamp Duty
Photocopy Charges
Early Settlement Fee
Ibra' (rebates) awarded based on settlement date
Late Penalty Fee
1% p.a. in Ta'widh (arrears)

*inclusive of 6% GST


Do you qualify for this financing?

Minimum annual income
Minimum age
21 years old
Who can Apply
  • Malaysians

Frequently Asked Questions about Al-Rajhi Automobile Financing-i

Things you might want to know

I am 18 years old am I eligible for Al-Rahji Automobile Financing-i?

Sadly, no. You have to be at least 21 years old with an income of no less than RM2000 a month to be eligible for this car loan.

I assume this is an Islamic car loan?

Yes, you're absolutely right. Al Rajhi Bank's Automobile Financing agreement is based on the Islamic Contract of Bai' Bithaman Ajil or Sale on Deferred Price, paid for via monthly installments.

And how are my monthly installments calculated?

As the interest rate is flat, you will be paying a fixed amount over the whole of your tenure until you have paid all of the principal amount plus interest. Your interest charges will be calculated based on your borrowing and the length of your financing period. The longer the time you choose to pay off your car loan, the higher the interest rate you will be charged.

And if I fail to pay for the installments?

If that's the case, you will have to pay a late penalty fee. If you miss payment for two months in a row the bank will have the right to repossess your vehicle. If you think you're going to be late wit a car loan payment: call the bank and let them know.

How about if I want to settle my car loan early?

You are most welcome to if you have the money to do so. When you pay your car loan off before it's due Al-Rahji Bank will NOT charge you any early settlement fees and instead gift you with a profit rebate for early ownership!

What documents do I need to apply for this product?

Below are the basic requirements. Other supporting income documents may be needed, so bring whatever you think is necessary.

A copy of:
NRIC or Military ID or Police ID
Latest 3 months pay slip
Latest 3 months Bank statement
Driver’s license
Dealer/Seller quotation or invoice

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