Mourabaha MOTO

What is it ?

The bank purchases a new motorcycle or tricycle manufactured or assembled in Algeria and sells it to a customer at a cost price plus a known profit margin agreed upon in advance between the BDL and the customer.

Who can benefit:
Any individual;
Be no older than 65 years old at the date of the financing application;
Any Algerian citizen with an income equal to or greater than one and a half (1.5) times the SMNG (National Minimum Guaranteed Wage);
Employed under a permanent contract (CDI) and confirmed in the position;
Provide sufficient repayment capacity (solvent).
Financing ceiling:
The financing amount cannot be less than 200,000 DA and no more than 1,000,000 DA.
Financing rate:
The financing rate is up to 100%.
Periodicity:
The repayment period must not exceed 36 months.
Availability:
All branches equipped with the EL BADIL window.
Financing cost:
BDL's profit margin is 8.5% per year;
Management fees: 00 DA;
Notice of agreement: 00 DA;
Penalty for early payment: 00 DA.
Required guarantees:
Pledge of the purchased motorcycle;
Life insurance;
All-risk insurance for the motorcycle.
Features:
The bank purchases a new motorcycle or tricycle manufactured or assembled in Algeria and sells it to a customer at a cost price plus a known profit margin agreed upon in advance between the EL BADIL window and the customer;
The monthly repayment is limited to 30% of the net monthly income (Mourabaha motorcycle condition).