FAQs | Tasheel Finance

FAQs

 

General

 
Is this Finance Sharia’h compliant?

Yes, our financial services are sharia complaint, and the Sharia Review Bureau approved all the details and the transactions involved in the process.
Can expats apply for this as well?

Yes, expats can apply.
Is there admin fee?

Yes, there is a 1% admin fee.
Is the profit rate fixed?

Yes, it is fixed.
Can customer prepay the finance early?

Yes, the customer can repay and settle the finance early. However; there will be charges totaling of 3 months profit added to the remaining principal amount as penalty for early closure.
Will my employer need to be listed in the approved company list so I can apply for personal financing or installment sales?

Yes, the company must be listed in our approved company list. If your employer is not currently listed with us, we will review the possibility of listing them.
Why is a promissory note required?

Tas’heel Finance services does not require a guarantor or salary transfer. Promissory note will only be used in an event of default.
Is there any late payment fee?
Yes, there is a SAR 199 fee for every late month.
 

Personal finance


What are the available amounts for personal finance?
Personal finance starts from SAR 15,000 up to SAR 100,000
What are the available tenors?
Finance is available for 36, 48 or 60 months.
 

Installment sales


What are the available amounts for Installment sales?
Installment sales amounts started from SAR 4,000 up to SAR 60,000
What are the available tenors?
Customer can choose from 12, 18, 24, 30, or 36 months.
 

Installment sales with IKEA


How can customers apply for installment sales to purchase from Ikea?
Customers can apply for installment sales to purchase from Ikea through our website or by visiting one of our branches in Ikea Al-Salam Mall in Jeddah, Ikea Tahliah in Jeddah or Ikea Riyadh.
What if the approved finance amount is lower than purchases cost?
Customers can pay the difference using any other accepted payment method by Ikea.
What is the process of payment in IKEA using Tas’heel services?
Simply, communicate with the cashier about your intent to pay using Tas’heel, and give the cashier the phone number you use to register. You will receive OTP on the phone number you registered with in Tas’heel. Give the cashier the password to proceed the process.
Can I use Tas’heel to apply for a purchase request through IKEA website or mobile application?
In the meantime, you can pay using Tas’heel only inside IKEA stores in Jeddah and Riyadh.
Can I return the products I bought from IKEA using Tas’heel?
You can return the products you bought from IKEA according to the IKEA return policy.
How can I return the products I bought using Tas’heel?
You can return the products you purchased using Tas’heel according to IKEA return policy. Simply, return the products to the store you purchased the products from. You can choose between getting a voucher from IKEA equal to the returned product cost or the amount will be deposited back into your Tas’heel account. If you chose to deposit the money into your Tas’heel account, you will receive OTP on the phone number you registered with in Tas’heel. Show IKEA employee the password to continue the process.
Can I use Tas’heel’s credit amount in more than one transaction?
Yes, you can use Tas’heel’s credit amount for multiple transaction in IKEA.
Can I cancel my Tas’heel installment sales program?
You can cancel Tas’heel installment sales program for free in the first 10 days. Cancellation fees and Tas’heel terms and conditions will apply for any cancellation after 10 days. For more information about the fees applied, or to cancel the program please contact our call center.
Can I return the product I bought using Tas’heel to any IKEA store?
According to IKEA return policy, you can return the product you bought only to the store you purchased the products from.
 
* Terms and conditions apply
English