MOURABAHA VEHICLES

What is it ?

Murabaha vehicle consists of the purchase of new vehicles by the Bank and reselling them at a cost price increased by a profit margin known and agreed in advance with the customer.

Category  concerned :

Any natural person of Algerian nationality aged 65 or less on the date of the application for financing.

Mourabaha vehicle financing amount:

The amount of Mourabaha Vehicle cannot exceed three million Algerian dinars (3,000,000 DA)
the maximum amount of Mourabaha vehicle financing must not exceed 80% of the amount of the vehicle to be financed, including all taxes (TTC).

Related products :

Islamic cheque account.

Funded projects:

Passenger vehicles, cycle or motor tricycle.

Profit margin:

The profit margin to be applied is 8.50%.

Duration of payment by instalmnets:

The duration cannot be less than three (03) months without exceeding sixty (60) months.

FAQ

What is Murabaha BDL Vehicle?
Mourabaha vehicle is an operation that consists of buying a new passenger vehicle, cycle or three-cycle motor vehicle from the bank and reselling it to the customer at a cost price with a known profit margin agreed in advance.
What products does Mourabaha Vehicule BDL support?
The Mourabaha Vehicle formula of the BDL is intended for the acquisition of a passenger vehicle, cycle or motor tricycle.
What are the eligibility conditions for the BDL Mourabaha Vehicle?
The customer Mourabaha vehicle (purchasing principal) must meet the eligibility conditions below:

1. Be of Algerian nationality;
2. Have a fixed residence in Algeria;
3. Have reached the age limit of 65 on the date of the request for financing;
4. Be of legal majority and have legal capacity on the date of the funding request;
5. Justify a regular income, greater than or equal to one and a half times (1.5) the SNMG, and domiciled at the counters of the Local Development Bank for non-civil servants.
What is the financing amount of Mourabaha vehicle?
The amount of Mourabaha vehicle cannot be greater than 3,000,000DA taking into account the nature of the vehicle to be acquired.
Are there management fees deducted from the Mourabaha Vehicle BDL file?
No, the vehicle Murabaha management fees are free.
Are there any notification fees deducted from the Mourabaha Vehicle BDL file?
No, the Mourabaha vehicle notification fee is free
What is the debt capacity in Mourabaha Vehicule BDL?
Taking into account the current level of the SNMG, the monthly Murabaha Vehicle payment is limited to:
1. 15% of the net monthly income regularly received by the purchaser of the property, when his income is greater than or equal to one and a half times the SNMG and less than or equal to three (03) times the SNMG;
2. 25% of the net monthly income regularly received by the purchaser of the property; when his income is greater than three (03) times the SNMG and less than or equal to six (06) times the SNMG;
3. 30% of the net monthly income regularly received by the purchaser, when his income is greater than six (06) times the SNMG.

What are the pricing conditions applied in Mourabaha Vehicule BDL ?
1. Profit rate: 8.5%
2. File management fees: 0.00 DZD
3. Notification fees: 0.00 DA
4. Penalty on advance payment: 0.00 DZD
What is the payment duration of Mourabaha vehicle?
The duration of the Murabaha Vehicle cannot be less than three (03) months without exceeding sixty (60) months.
A deferred payment may be granted for a period of one (01) month.