The Saudi National Bank is one of the largest contributing and supporting financing entities for the small and medium enterprises segment by providing financing solutions that are compatible with the provisions and principles of Islamic law, and in order to enhance these contributions, which are in line with the Kingdom's vision 2030 AD, the Saudi National Bank today offers a vehicle fleet financing product for the small and medium enterprises segments.

Product advantages:


  • Islamic financing compatible with the provisions of Islamic law, based on the principle of Islamic leasing

  • Financing amount: up to 7.5 million riyals

  • Repayment period of up to 5 years

  • Flexibility in choosing the amount of the monthly installments

  • Distinctive and competitive prices

  • Comprehensive insurance coverage throughout the rental period

  • Renting a fleet of multiple vehicles under a single contractual agreement

  • Specialized sales representatives, present in most car showrooms and dealerships

  • Specialized centers to serve leasing customers spread all over the Kingdom

  • Multiple options for terminating the contract or owning the vehicles during the contract period or at its end

Steps to obtain your lease financing:

The first step: choosing the right vehicles

Select the desired vehicles, then obtain a price quotation from the fleet sales representative, explaining the vehicle specifications.

The second step: Visit AlAhli Fleet leasing Sales Officer

Visit AlAhli Fleet Leasing Sales Officer, fill out all the required forms, find out the required documents, and provide them to the fleet sales employee.

Third Step: Obtaining final approval

After receiving the required and signed forms from the client, the application will be studied, and then you will be contacted and notified as soon as the approval is issued to sign the contracts. In coordination with the relevant vehicle agency and the Traffic Department, we will contact you to schedule a vehicle pick-up date.

Product programs:

The fleet product has been classified into three basic programs that are in line with the requirements and needs of our customers.

1-      Financing the fleet of vehicles for personal and executive use

This program is designed to enable the facility to obtain vehicles for owners and employees for personal use, which allows the facility to finance the fleet of vehicles with a monthly payment method.

2-      Financing a fleet of vehicles for commercial use

This product aims to meet the needs of the establishment and contribute to its growth and success by allowing the purchase of a fleet of various vehicles such as (small cars, buses, trucks, etc.) for various commercial uses.

3-      Financing a fleet of vehicles for car rental companies

   Fleet financing program for car rental companies looking to obtain a new fleet of vehicles   with a monthly payment method.


Required Documents:

  • Fleet financing request letter

  • The national identity of the owner / owners / sponsors

  • Commercial register

  • The company's incorporation contract and partners' decisions certified by the Chamber of Commerce

  • Government Certificates (Nitaqat, Saudization, Zakat, GOSI)

  • Financial Statements

  • Account statement of all client's accounts

  • Auto quotation form and purchase acceptance


Example of the annual percentage rate calculation mechanism

Balloon Payment The monthly installment amount Annual Percentage Rate
Maturity in years
Financing amount Vehicle Type
40,000 1,556 9.57% 5 100,000 Car


Balloon Payment The monthly installment amount Annual Percentage Rate
Maturity in years
Financing amount Vehicle Type
16,000 2,247
12.37% 3 80,000 Car


Balloon Payment The monthly installment amount Annual Percentage Rate Maturity in years Financing amount Vehicle Type
42,000 3,080 7.25% 2 105,000 Car


  • The Annual Percentage Rate (APR) is the ratio that shows the cost of financing to the financial organization as an annual percentage of financing. This percentage is usually higher than the nominal commission or what is known as the flat rate because the calculation of its value includes the value of administrative fees, expenses and insurance throughout the financing period. For this reason, it gives a clearer picture of the real percentage of financing than the nominal commission, which includes the profit margin only.

  • The above table and its numbers are an illustrative example only and represent how to calculate the annual percentage rate, which depends on five basic factors (profit margin, financing amount, insurance rate, financing period, car price)

  • The administrative fee is 1% of the financing amount

  • Terms and conditions apply