Tamweel Aloula Frequently Asked Questions

Frequently Asked Questions

Frequently asked questions

Car financing conditions: 

For individuals:

  • Residence of the Eastern province.
  • Age between 21- 65.
  • Total salary min. SR 4,000.

 

Required documents for individual:

  1. Copy of ID / Iqama.
  2. Copy of driving License.
  3. Income proof / Work acknowledgement.
  4. Bank deduction letter.
  5. Bank account statement for the past 3 months.
  6. Housing proof / acknowledgement (copy of home rent contract).
  7. Draft drawing for home location.
  8. In some exceptional cases, additional requirements might be requested.
  9. Filling application form.
  10. Signing SIMAH acknowledgement.

 

Appliance conditions :
For individuals:

  1. Residence of the Eastern province.
  2. Total Salary min. SR 3,000.
  3. Leasing term will be from 6 to 24 months.
  4. Min. loan will be SR 3,000.
  5. Down Payment is %10 of the loan amount.
  6. Interest rate will be %24 to %30 yearly (Whereas corporates will be less depending on the financing amount).
  7. Administrative fees will be %1 of the loan; with a maximum limit of SR 5,000.

 

Required documents for individual:

  1. Copy of ID / Iqama.
  2. Income proof / Work acknowledgement.
  3. Bank deduction letter.
  4. Bank account statement for the past 3 months or print from General Organization of Social Insurance for private sector employees.
  5. Housing proof / acknowledgement (copy of home rent contract).
  6. Draft drawing for home location.
  7. Sponsor for private sector employees & Military sector employees.
  8. In some exceptional cases, additional requirements might be requested.

 

Corporate financing conditions 

  1. Signing SIMAH acknowledgement.
  2. Copy of AoA.
  3. Copy of rent contract or ownership certificate.
  4. Copy of ID / Iqama for the owner & shareholders.
  5. Authorized signatory.
  6. Copy of CR.
  7. Bank account statement for the past 6 months.
  8. Municipality license & industrial licence if there is.
  9. Audited financial statements as requested; if the financial exceeds SR 600,000 then the financial statements of the last 3 years will be requested.
  10. Filling application form.

 

Insurance defray charges:

SR 4,500.

 

Application study duration 

Retail: three days.

Corporate: five days.

 

Internal and international authorization charges:

Internal authorization for 3 months SR 25.

External authorization: 

Bahrain: 

SR 200  geographical expansion for one year.

SR 100 authorization for 3 months.

 

Gulf Countries:

SR 400 geographical expansion for one year.

SR 100 authorization for 3 months.

 

Jordan: 

SR 700 geographical expansion for one year.

SR 100 authorization for 3 months.

 

Istimara renewal charges

*periodical check required. 

Private: 600

Special transport: 900

*The fine is calculated after 60 days

 

Transfer of ownership charges and required documents:

Transfer of ownership charges: 

SR 450.

 

required documents:

Periodical check.

Insurance with the buyer’s name.

Filling Acknowledgment of waiver form.

 

Transfer of application for another person

Administrative fees SR 1,500.

Changing the user SR 200.

 

Required documents: 

Income proof / Work acknowledgement.

Copy of ID or Iqama.

6 months bank statement.

Filling Acknowledgment of waiver form.

 

Account numbers 

Riyadh Commercial SA8820000003020362589940

Al Rajhi Commercial SA3280000508608010077771

Arab Commercial SA0830400108058049380011

British Commercial SA52450000352190888001

French Trade SA5655000000087643900114

American Commercial SA64400000000106922351

Dutch Commercial SA10500000000018000924004

BALAD Commercial SA15000861107120880004

National Bank SA6010000006959906000109

Al Enmaa Bank SA7305000068200666699000

Bank Al-Jazirah SA9560000000204274150001

 

Regions allowed to get finance:

Retails : Eastern Region.

Corporate: In the entire Kingdom of Saudi Arabia.

 

The lowest car model that can be bought from another showroom?

The model must not exceed 5 years from the current year.

 

How to apply for financing application?

Call Customer Care: 920005477

Or via E-Mail: [email protected]

 

Working Hours:

The tower (Head Office): 8 AM - 5 PM.

Branches: 

Morning Session: 8 AM - 11:30 AM.

Evening Session: 4 PM - 8 PM.

 

Interest Rates & Down Payment (Leasing - Installment)

Corporate:

Decided after the credit study.

Retail:

Down Payment around % 10.

Last payment around % 20.

 

For used cars:

Insurance % 5

Interest % 6.5

 

For new cars:

Insurance % 5.5

Interest % 6

 

For sport & luxury cars:

Insurance % 5.5

Interest  % 6

*Terms & Conditions are applied.

 

Approved sectors for installments:

Ministry of Education, Aramco, Sceco, Sabic, Ministry of Health, Royal Commission for Jubail & Yanbu, & Banks.

 

Required documents for financing the last payment:

Filling financing form that is signed by the client.
Filling Acknowledgment of waiver form.
Copy of ID/ Iqama.
Copy of the driving licence.

 

Specifications for financing the last payment:

Interest % 8 yearly.

Insurance % 5 yearly.

Min. financing term: 6 months.

Max. financing term: 18 months.