Waseela Cars
"Waseela Cars" is the new car finance scheme from Al Salam Bank that will enable you to buy your new car through the Islamic way of Murabaha. With its high competitive advantages in the retail financing services market in Sudan, it is designed to suit the needs of all individuals.

Benefits:

  • Covers all kinds of new cars
  • Covers all kinds of 5 years old cars
  • Only 9% Murabaha fixed profit rate yearly
  • Financing period extends up to 72 months (6 Years)
  • The customer may obtain more than one loan
  • First Installment ranges from 40% depending on guarantee (deposit – salary transfer)


The Bank’s terms and conditions

No. Discription Conditions with
Salary Transfer
Conditions without
Salary Transfer
1 Position To be an employee in one of the institutions accredited by the management of the bank (public/private) Staff / Professionals / Businessmen
2 Period of duty 6 months or permanent employee 6 months or permanent employee
3 Place of Work Khartoum State Khartoum State
4 Age From 21 to 56 years (That does not exceed the 60-year-old at the end of the funding period) From 21 to 56 years (That does not exceed the 60-year-old at the end of the funding period)
5 Minimum Salary / Income 3000 SDG (Basic + Monthly allowances) + Additional income - (if any) Average monthly deposits > 5,000 SDG
6 The minimum amount of net financing 30,000 SDG 30,000 SDG
7 The upper limit for the amount of net financing 450,000 SDG 450,000 SDG
8 Downpayment At least 40% At least 40%
9 Percentage deduction to salary / income Maximum 50% 50% Maximum of the average monthly deposits
10 Funding period (Minimum limit) 12 Month (1 Year) 12 Month (1 Year)
11 Funding period (Maximum limit) 60 months for used cars and 72 months for new cars 48 months for used cars and 60 months for new cars
12 Profit percentage (Murabaha) 10% (fixed) in the year for used cars
9% (fixed) in the year for new cars
10.5% (fixed) in the year for used cars
9.5% (fixed) in the year for new cars
13 Guarantee 1- Salary Transfer + car mortgage in favor of the bank + Comprehensive car insurance + pay checks or
2- 100% Booking of investment deposits / Shahama certificate + car mortgage in favor of the bank + comprehensive car insurance + Guarantee checks
1- Statement 6 months (making sure there is no feedback checks) + certificate financial ability of the same source Bank account statement + sponsor solidarity (average monthly deposits > 5,000 pounds) + car mortgage in favor of the bank + Comprehensive car insurance + pay checks or
2- 100% Booking of investment deposits / Shahama certificate + car mortgage in favor of the bank + comprehensive car insurance + Guarantee checks


To calculate your request, enter values for the Murabaha Amount, Number of Months for Loan, and the Murabaha Rate (9%, 9.5%, 10%, or 10.5% depends on your situation), and click the Calculate button. Clicking the Reset button will clear entered values. The results of this Murabaha payment calculator are for comparison purposes only.They will be a close approximation of actual murabaha repayments if available at the terms entered, from a financial institution. This is being provided for you to plan your next murabaha application.

Enter Your Details & Click the Calculate Button
Murabaha Amount SDG
Murabaha Rate %
Number of Years Years
Number of Payments Installment
Monthly Payment SDG
Enter only numeric values (no commas), using decimal points where needed.
Non-numeric values will cause errors.


For more details on "Waseela Cars", visit our branch in Khartoum-Sudan, Al Jomhoria Street, Al Salam Bank Building or call +249 183 747 000.