Advantages of the installment program
- Purchase at cash price.
- Fixed monthly installments without a profit margin.
- Flexible installment period starts from 3 months and up to 12 months.
- Sharia compliant.
- Can be used to purchase a new policy or renew a current one.
- This service is available at all sales channels including the website.
Terms and Conditions
Payment must be made using the credit card of one of the participating banks:
- Al Rajhi Bank
- Riyad Bank
- Samba Bank
- Arab national Bank
- Bank AlJazira
- Banque Saudi Fransi
- The value of the policy must not be less than SR 1,000.
- Buy the insurance product from Al Rajhi Takaful channels including the website.
- The customer must contact the bank within two days (48 hours) of purchasing the insurance and inform the bank of his desire to transfer the value paid by credit card to the installment service.
- Al Rajhi Takaful is not responsible for activating this service if the customer does not contact the bank within the specified period.
- Banks participating in the installment service have the right to apply their internal policy regarding the use of their credit card, so the customer must check with his bank to ensure that all terms and conditions are met.
How to?
- Submit your request to any of Al Rajhi Takaful branches or through the website to purchase a new insurance policy or renew your current one to a value not less than SR 1,000.
- Pay with your credit card from any of the bank participating in this service.
- Inform your bank that you want to pay the insurance within two days (48 hours) of the purchase date.
- The bank will verify the process and inform the client if the transaction operation is successfully converted to the installment program.
Frequently asked questions.
Is a service launched by Al Rajhi Takaful to facilitate the payment of premiums to customers who wish to purchase an insurance product using a Credit Card/Visa belonging to one of the participant banks, where the value of the insurance policy purchased is not less than SR 1,000.
- Al Rajhi Bank
- Riyad Bank
- Samba Bank
- Arab national Bank
- Bank AlJazira
- Banque Saudi Fransi
- Submit your request to any of Al Rajhi Takaful branches or through the website to purchase a new insurance policy or renew your current policy with a value not less than SR 1,000.
- Pay with your Credit Card/Visa to a bank participating in this service.
- Inform your bank that you want to convert the policy amount to 0% installment program within (48) hours of the purchase date.
- The bank will verify the transaction and inform the client if the amount converted successfully to installment program.
0%, where the customer does not bear any interest.
No. You can only use cards issued by participant banks.
The installment period varies from one bank to another. The installment period starts from 3 months and reaches to 12 months.
Customer should check the bank in this case.
Yes you can do, according to the cancellation clause which mentioned in the insurance policy.
No, you can’t.
All kind of insurance policies not less than SR 1,000.
Individuals and Small and Medium Enterprises.
No. the installment payment only when using Credit Cards/Visa to the participant banks.