Personal Finance

Fulfill your dreams with Tayseer AlAhli Personal Finance.

Finance Your Dreams

Whether you are renovating your home, organizing a vacation, planning your children’s education, or require financing for any other reasons, Tayseer Al Ahli is an Islamic financing process based on Installment Sale and is authorized by the Sharia Fatwa and Supervisory Committee. According to this process, a customer buys a certain quantity of commodities (which are owned by the National Commercial Bank) and pays for them in installments. The customer may then choose to sell them to a third party (the market) through the commodity vendor. All such procedures fall under the Fatwa and Supervisory Committee to ensure compliance with all legal provisions and controls.

Why Local Commodities in particular?

The National Commercial Bank has selected local commodities (rice and barley for example) that are traded daily on the Saudi Market. This makes it easy for customers to resell what they have already bought with a small difference between the price of purchase from the bank & the price of selling to the market.

Fulfill Your Dreams

With Tayseer AlAhli, you can look forward to:

Sharia approved conditions and provisions

No need for a sponsor

Prompt response and fulfillment (instant approval)

Comfortable installments of up to 5 years

The amount of the “Tayseer AlAhli”…Local Commodities ranges from SR 15,000 to SR 1.5million

Possibility of getting additional finance in the form of Top-up finance

Possibility of deferring the installment during the holy month of Ramadan

Family protection program in case of death, full, or permanent disability, as the deemed appropriate by the bank

Repayment period up to 60 months

The customer can call the vendor easily around the clock to choose to sell or collect the physical commodities.

Click on the Question to find our answer

To which mobile number will the text message be sent?

The text message will be received on the number entered when initiating the loan application in the system
Why should the customer update the mobile number? And what shall the customer do in case the text message was not received?

The customer must update the mobile number to enable the bank to send the approval message to the customer. In case the text message was not received, the customer must contact the customer service representative who initiated the application.
When will the text message be sent to the customer?

After reviewing and approving the application from the Finance Center in the Consumer Finance Sector, the text message will be sent. Note that all applications coming to the Finance Center before 3 PM will be reviewed on the same day, but applications coming to the Finance Center after 3 PM will be reviewed the next working day.
Why a customer did not receive the SMS?

The SMS is automatically sent only at the time of final approval of application and following could be the possible reasons for a customer who did not receive the SMS

1.The customer has just applied in the branch and is expecting to get the SMS immediately (which cannot be possible, unless the application is approved)

2.Since, all the applications are processed in a central location therefore applications coming from across the kingdom has to line up in a queue and wait for its approval (that is the reason finance center has a cut off time of 3 pm to apply in order to ensure the same day processing)

3.There might be some delay from SMS company; however, it is automatically generated by NCB immediately after the approval of application
What to do if a customer did not receive the SMS?

The SMS is automatically sent only at the time of final approval of application and in case the customer does not receive his SMS, he should be asked to wait till 4pm of the day (provided he applied well before 3pm of the same day). If the customer applied close to the cut-off time (i.e. 3pm) the chances are he will receive the SMS in 1-1.5 hours.
When should the customer call the dealer’s telephone?

Only after receiving the text message and not before that, because the account will not show the application before the application is approved and text message is received.
Which mobile number should the customer use when calling the dealer?

Customer can call the dealer from any number registered with Al-Ahli Phone.
What will happen in case the customer did not call the dealer at all?

Dealer will have the right to sell the commodity automatically after the specified period in the Undertaking and Authorization (Ta’ahud Wa Tafweed) form. Dealer will inform NCB to credit the selling value in the customer’s account. This is because the dealer cannot store commodities indefinitely.
In case of selling, when will the customer get the selling value (the amount) in his/her account?

The customer will get the amount on the same day in the case of calling the dealer and successfully completing the selling transaction before 5 PM. In the case of calling the dealer after 5 PM, the amount will be credited on the next working day.
How can the customer collect the commodities without selling them?

- When calling the dealer, the customer selects the option of collecting the commodities

- After 3 working days, customer obtains the Commodity Certificate from the same branch where application was initiated

- Contact the dealer’s warehouses as described in the Commodity Certificate to collect the commodities.
Can the customer sell part of the commodities and collect the remaining?

Yes, only in case the loan was a top-up with closing original loan. And in this case, a specific potion of the commodities will be sold equal to the outstanding balance amount which the customer wants to close. And then the customer can collect the remaining portion of the commodities through the dealer. In case the loan was new or a top-up without closing original loan, the customer has no right but to sell the whole commodities and getting the cash, or collecting all of it through the dealer.
What is the duration of obtaining the Commodity Certificate to collect the commodities?

Commodity Certificate can be obtained after 3 working days from the same branch where application was initiated. And in case the customer does not show 10 days after the date of calling the dealer’s IVR, the dealer will have the right to sell it automatically and inform NCB to credit the customer’s account with the selling value.
Who bears the cost of transferring and shipping the commodities from the dealer’s warehouse?

Customer will bear all the costs of transferring and shipping his/her commodities.
In case the customer contacts the dealer within allowable timeframe days after the approval, does the customer pay storage fees?

No, the customer will not pay storage fees.
Where are the physical commodities?

Commodities will be with the dealer (Omar Kasim Al-Esayi Establishment – located in Jeddah, Madinah Road, Al-Boghdadeyya Al-Gharbeyya Dist., telephone: 02/6448282 ext. 125 or 119)
What happens in case the customer enters a wrong number when entering his/her PIN when calling the dealer?

The customer will not be informed of the wrong entry, but will be informed that the application does not exist. Thus, the customer must ensure correct entry otherwise he/she will have to go to NCB’s ATM and reset the PIN again. The customer is allowed 3 attempts to enter the right PIN when calling the dealer.
What happens in case the customer does not have Al-Ahli Phone service activated?

Customer is required to activate the service and the number through NCB’s ATM.
Can NCB sell the commodities on behalf of the customer, in case the customer desires?

No, based on Sharia’a Board requirements, the customer must handle the commodities transaction by him/herself without involving the bank to do so. Therefore, NCB cannot do this on customer’s behalf.
Can the customer sell the commodities through NCB’s web site or ATM?

No, the customer cannot sell the commodities through NCB’s web site or ATM. He has to call the Dealer’s IVR only to register his request.
What can the customer do in case he/she could not contact the dealer and complete the selling transaction through the dealer’s telephone system?

Commodities can only be sold through the dealer’s IVR system. Therefore in case the customer could not contact the dealer, he/she must wait and try again after some time. In case the problem still exists, customer must call the branch’s customer service representative who initiated the application to provide assistance.
Is using the customer’s account number and PIN when calling the dealer secure?

Yes, customer will enter his/her information, and the dealer will verify this information from NCB through encrypted and secured channel.
In case the customer wants to cancel the loan application, shall he/she call the dealer to cancel ordering the commodities?

No, in that case the customer should not call the dealer. However, the customer should complete his transaction first by calling dealer’s IVR and then contact the customer service representative who initiated his/her application.
What happens in case the customer selects to collect the commodities by mistake?

Customer must make his/her decision before calling the dealer’s IVR, and ensure the right choice is selected. The system does not allow for changing the selection after it has been selected and also confirmed after the initial level of selection.

Requirements:

To be an employee of an entity that transfers the salaries of its employees to the National Commercial Bank through “SARIE” salary transfer system.
Net monthly salary as low as SR 2000(for Saudis) and SR 3000(for non-Saudis) **
Employment service as low as 1 month (for Saudis) and one year (for non-Saudis) **
Applicant should be at least 18 years old at the time of application and not older than 60 years at the due date of the last installment (for Saudis) **
Applicant should be at least 22 years old at the time of application and not older than 60 years at the due date of the last installment (for non-Saudis) **

In case of any inquiry or complaint, please call 920001000

** Terms and conditions apply

Required Documents & Actions:

Completed Application Form
A copy of the customer’s ID card or valid residence (Iqama)
An employment letter from the employer, which will include financial and
job-related information and date of joining work
A customer’s monthly salary form supported and certified by the
employer (through “SARIE” salary transfer system)

How to receive your personal finance?

1. Application Phase:

Providing the required documents
Specifying the details of the finance (finance amount, tenure, profit margin, monthly installment)
Signing the application form that is printed from the system
Obtaining immediate approval and signing the Installment Sale contract

2. Application execution & commodity ownership phase:

You will receive an SMS notification to your mobile phone on the same day of your Installment Sale application
The SMS will contain the name & phone number of the vendor to enable you to call them and make the decision of selling or collecting the commodity

3. Vendor call & decision making phase:

Call the vendor on the number from SMS you received.
Use your 8 digit NCB account number and your 4 digit pin number in order for the system to identify the customer in an automated, easy, and simple way
Choose one of the following :
- Selling the commodity and depositing its value in the customer’s account
- Collecting the commodity directly from the vendor

Yes